Michael S. Lorrey wrote:
> Legally, only US Citizens who are one or more of the following:
>
> a) federal employees
> b) federal benificiaries (loans, welfare, SSI, fed. retirement, etc)
> c) officers of corporations
> d) maintain accounts in federally insured financial institutions
>
> are actually mandated by the federal tax code to pay income tax. All
> others are not liable for tax, but can volunteer to pay. Under the new
> Taxpayers Bill of Rights Act, since the burden of proof is now on the
> taxman to prove you made $xxxxxx, moving business and financial
> activities is an excellent practical way for you to shelter things.
Of course, if Michael is correct, it's item (d) that's the kickeressentially everyone in America has one or more accounts in federally insured institutions. Where o where can can I get a non-FDIC account?
I betcha all credit unions, savings & loans, banks, etc are required to have federal insurance to be licensed, and without a license they'd get raided and shut down in a heartbeat- so there's your catch-22.
The three laws of thermodynamics as a rigged card game:
1) You can't win 2) You can't break even 3) You can't get out of the game
-- Doug Jones, Freelance Rocket Plumber