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  1. #1 Starve the Beast Campaign 
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    I was just crusing another of my favorite forums and ran into a concept I had HEARD of before, but didn't know much about. I looked it up on Wiki and it just might work.

    At any rate, they are espousing a form of 'Starve the Beast' campaign during the Obama administration, i.e., pay as little in any form of tax as is humanly possible.

    Most people think they're already doing that, but these guys are talking about extreme measures.

    1. Have your house reassessed at current market prices. The assessment will cost you, but your taxes will probably end up lower.

    2. Borrow every dime you can against your 401K and roll it over into an IRA at a local bank (after exploring its financial health). Admittedly, you have to pay it back into your 401K via payroll deductions, but you're paying the interest to YOURSELF, at least, and the amount you have in the IRA will grow. Once the loan is paid off, repeat.

    3. Buy nothing new. Garage sales and rummage sales do not charge sales taxes.

    4. Set your family up as an LLC.

    No. 4 is the one I don't really understand. Do we have any tax lawyers in the group who would be willing to comment on stratagies for tax avoidance (no one is espousing tax evasion) of everyday wage-earning families? Frankly, I don't want to give one penney more to this administration than is absolutely necessary!
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  2. #2  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    I have to admit Milly that at 1st glance this seems very DUish...;)
    May the FORCE be with you!
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  3. #3  
    Senior Member OwlMBA's Avatar
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    "Set up for family as an LLC"

    That makes no sense. LLCs have pass-through taxes, so you still pay the same level of personal income tax. And I would rather throw myself off a bridge than shop at garage sales.
    **** Obama and **** you too.
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  4. #4  
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    Actually, no.

    Why on earth would you think this was from DU? They WANT their boy Obama to collect as much of our money as he can to re-distribute to THEM!
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  5. #5  
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    I might add that a lot of the 57M votes McCain managed to garner were from the working poor with conservative values. Don't sneer at the folks who frequent yard sales - they just might be on your side.
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  6. #6  
    Senior Member OwlMBA's Avatar
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    Quote Originally Posted by Milly View Post
    I might add that a lot of the 57M votes McCain managed to garner were from the working poor with conservative values. Don't sneer at the folks who frequent yard sales - they just might be on your side.
    Oh I am sure they are. And I am glad they are. But I am just not a fan of the yard sales.

    Drunken rednecks with confederate flags flying in their yard also probably voted for McCain, but that doesn't mean I want to hang out with them. ;)
    **** Obama and **** you too.
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  7. #7  
    eeeevil Sith Admin SarasotaRepub's Avatar
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    Quote Originally Posted by Milly View Post
    Actually, no.

    Why on earth would you think this was from DU? They WANT their boy Obama to collect as much of our money as he can to re-distribute to THEM!
    Why? And I don't say it's from DU, it just sounds like something they'd come up with.

    3. Buy nothing new. Garage sales and rummage sales do not charge sales taxes.
    Come on. You have have heard of "Not one more damn dime day", "Buy nothing for a day", "Don't buy gas tomorrow", "Don't ride cabs in NYC to hurt Fox News", etc.,etc...:D
    May the FORCE be with you!
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  8. #8  
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    Quote Originally Posted by SarasotaRepub View Post
    Come on. You have have heard of "Not one more damn dime day", "Buy nothing for a day", "Don't buy gas tomorrow", "Don't ride cabs in NYC to hurt Fox News", etc.,etc...:D
    Actually, not so much. But I live a very insulated life out here in the boonies of rural Indiana.:)

    Obviously, this is not a workable plan. I welcome the answer regarding LLCs, though. It struck me as very odd, too. That's why I asked.
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  9. #9  
    Senior Member Zeus's Avatar
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    #2 is financially a stupid Idea. First off It's doubtful any bank will pay the interest an401K should be garnering. Second taxes & penalties may eat a considerable chunk of the amt borrowed. Thirdly once most folks have access to those funds they will just piss them away.. Sure it's their money to do with as they please but wasn't the intent retirement not instant gratification.

    I agree the whole thing sounds DUish to me.
    Last edited by Zeus; 11-08-2008 at 11:49 PM.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  10. #10  
    Senior Member LogansPapa's Avatar
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    Yep - starve the government that happens to be in power, but don't get saucer eyed when soldiers coming home are housed in mold filled buildings and given bills for the meals while in the hospital in Germany.

    That'll teach the new C of C who's boss.
    At Coretta Scott King's funeral in early 2006, Ethel Kennedy, the widow of Robert Kennedy, leaned over to him and whispered, "The torch is being passed to you." "A chill went up my spine," Obama told an aide. (Newsweek)
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