Co-operative tax avoidance - posted in Million dollar ideas Ideas

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Co-operative tax avoidance
Posted 03/01/2011 by wilystoat in Million dollar ideas | Submit idea in this category

You know how the Bank of America doesn't pay any tax, and Barclays Bank, despite being owned by the British taxpayer, doesn't really pay any tax... well, here's a thought. What if you and I and everyone we know who got together and paid the same accountants the banks use to find the same loopholes for our wages? After all, big companies are just groups of people who earn money. The only difference is that when big companies don't pay tax, the profits go to a small number of shareholders, not the workforce. It might be expensive to hire an accountancy firm, but would it be as expensive as paying tax? Of course not – just look at how much the banks are saving!

Any accountancy firm would jump at the chance - if there were enough people willing to pay for the service, it would be a huge new market for them. And governments would be left with a choice: take no tax revenue from the middle classes, or start taking it from the upper classes, too.