How will the Obama administration react to productive people shielding their wealth as tax rates rise?

Volumes of empirical data show that as tax rates rise, the focus of productive people shifts from tax compliance to tax avoidance. How will President Obama react to this certainty? Will he step on the socialist accelerator even harder, convinced that his rhetoric will reverse the human spirit? Will he hire thousands upon thousands of additional government agents to forcefully confiscate property, facts be damned? Something else?How will the Obama administration react to productive people shielding their wealth as tax rates rise?
A lot of funny answers here, especially by Obama supporters showing their complete lack of understanding of taxes and the question.



Yes, tax evasion is ongoing, doubt you're going to find many people who dispute that (both dem and rep/liberal and conservative do it, not limited to one group).



If anyone has ever known someone really rich (I mean making over a million a year) they do NOT want to part with it. They will use any means necessary to hide, move, get though loopholes and other things to keep their money. As taxes go up, these people look harder for such things to keep their money (key word here s their money, they made it, earned it, it's not mine).



When this happens I think what we'll see is that the Obama administration might add more people to the IRS to catch such people. But this is a catch-22 situation. Many people don't pay taxes, guess what, with more people looking the chances of you being caught went up.



I also think, those tax cuts, forget it, it was just a campaign slogan to get you to vote for him. I say there's a 99% chance everyone's taxes will go up.



Add in an energy crisis that the democratic congress and Obama don't seem to want to do anything about, and guess what, your check you bring home, gets smaller and smaller. Say good by to many to perks you enjoyed and health-care still won't be fixed.
Only a small percentage of rich people who hate America will shield their wealth. So, I'm not too worried about it.How will the Obama administration react to productive people shielding their wealth as tax rates rise?
You have been reading to many Tom Clancy novels!



Silly Republicans!

Even when you try you still sound stupid i.e. George Bush, Sarah Palin, Rush Limbaugh etc.......
BIG YAWN. They will deal with tax policy changes as they always do.How will the Obama administration react to productive people shielding their wealth as tax rates rise?
Hey look at it on the bright side, nobody will ever have to pay bills again.....

http://www.youtube.com/watch?v=381gFG4Cr…
i didn't get the memo=(
No...how will productive people react to ever-increasing profits due to people actually having money to spend again and consumer confidence increasing?
On one hand people say Obama is creating a welfare state and on the other people are complaining he is taking away their money. Both arguments are ridiculous.
obama might bring up the iron curtain on america
He is organizing a paramilitary, like Hitler did.



This is true, you can google it.
He will try to turn them in to criminals, make them join the collective.



“From each according to his ability, to each according to his need” (or needs) is a slogan popularized by Karl Marx



“we need to spread the wealth around” is a slogan popularized by Karl Barack ObaMarx



Obama Bombshell Redistribution of Wealth Audio Uncovered

http://www.youtube.com/watch?v=iivL4c_3p…

Redistributive change



An now we find Obama wants to bankrupt the coal industry

OBAMA TELLS SAN FRANCISCO HE WILL BANKRUPT THE COAL INDUSTRY: http://gatewaypundit.blogspot.com/2008/1…


Too funny.



Apparently you missed the recent article which showed the Bush admin. authorized the IRS to start looking in overseas bank accounts to find American tax cheats.



Seems like when the govt. has money trouble, nobody is going to hide.
They will seek ways to shield their wealth. Most of the rational wealth holders in this country expect to pay a certain amount of taxes (and don't mind doing so) but there is a cutoff at which they say "enough is enough".
Obama is raising the taxes to people making over 250,000 but McCain is decreasing taxes to people making less than 150,000 middle class will still pay less
It is not called "shielding" it is called tax evasion. And, I know you will be SHOCKED to find that tax evasion is ongoing. Have you ever googled how much tax is lost to Swiss/foreign bank accounts - all under an inept Republican administration? That's what I thought,



Hopefully, Obama will audit and incarcerate all tax evaders (perhaps even Joe the Plumber).



Obama 2008
As a good republican and business owner, I shielded my income from as much taxation as possible. The point here is, why shouldn't those making more than $250,000 bear a larger burden for national financial support than someone making less than that? This scare tactic of confusing everyone with "what ifs" applies to the republicans as well -- no one knows what ANY candidate will do after getting elected (the old adage of 'read my lips' holds no bearing in politics!)
There isn't a great deal they can do and its not really shielding, its sheltering, and its perfectly legal. Instead of stocks - buy tax free municipals, start separate foreign investments these are taxed if you bring the money back into US, structure gifts to minors and charitable remainder trusts. Lots of high net worth investors have already done this.
And just when was it in the history of this country that the wealthy DIDN'T hide their money from tax collection?



I'd be a little more worried right now that Bush et al are robbing the treasury of every cent they can before he leaves office. Do you think it was an accident that last Tuesday broke records for the stock market and was followed by Bernanke lowering the interest rate? Who had insider information, people?



WAKE UP - we are being screwed and people just don't seem to care. No, the Conservatives just buy the lies and just trust, trust, trust that those good Christians who they follow would NEVER lie to them. How many lies to you need to have exposed before you realize that these people aren't Christians, they worship money - your money. I know, like beating a dead horse.



Good analysis from The Guardian:
You yourself said that the focus shifts to tax avoidance. So it is somewhat hypocritical of you to say, "Facts be damned." As you pointed out, the fact is that people are trying to hide their true income. So what facts are being damned?



In answer to your original question: Hopefully, Obama will make the Tax Code more simple, and allow for the IRS to operate the system of tax collection more effectively.'