this post was submitted on 20 Oct 2024
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Explain Like I'm Five

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ELI5 How do rich people just hide their money in offshore bank accounts? Do they just call up the bank and say I want transfer such and money? How come the original bank doesn't catch on? (lemmy.world)
submitted 3 weeks ago by Don_Dickle@lemmy.world to c/explainlikeimfive@lemmy.world
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[–] YurkshireLad@lemmy.ca 6 points 3 weeks ago (1 children)

I believe they also write off as much as they can as income losses to reduce their tax bill. Minimal or no income? No taxes.

[–] sunzu2@thebrainbin.org 2 points 3 weeks ago (1 children)

A lot of the expenses are NOT substantiated but limp dick IRS won't do their fucking job. Same with SEC...

Useless regime whores

[–] Gaspar@lemmy.dbzer0.com 3 points 3 weeks ago (1 children)

The IRS only has a limp dick because Repubs won't allow Congress to pay for their Viagra.

[–] sunzu2@thebrainbin.org 1 points 3 weeks ago

Amazing how party for the "working people" never deliveres anything for them as if it was designed that way by a regime