It seems cash-strapped nations around the globe are leaving no stone unturned in their quest for extra cash and it might mean your privacy and dignity being tossed out the window.
“Show me your papers” has long been a phrase attached to tyrannical governments. But until now, the phrase never meant, “Show me your tax returns.”
We aren’t worried about extra tax scrutiny. We teach how to drastically lower your tax burden while remaining 100% in compliance.
But the growing power of “tax police” around the world does make us wince.
Economic chaos and tyranny tend to show up together, and we hope what is happening in Italy, Spain, Argentina… and even the US isn’t a sign of things to come for nations around the world.
Innocent or Not – They May Be Looking For You
Have you ever felt that sense of relief when you spot a police car too late, but look down to see you thankfully were not speeding?
Well, in Italy, if you drive a nice car that relief may not last.
Even though you weren’t speeding or disobeying any other traffic laws, you may still find the officer in your rearview mirror signaling you to pull over.
What are you suspected of doing wrong? Driving-While-Rich.
Apparently police in Italy have started to pull over people in Ferrari’s – not for speeding – but to check their tax records. If their reported income doesn’t match that of someone who can afford a Ferrari – you may find yourself in trouble with the tax police.
So far this policy has uncovered over 2,800 luxury car owners whose reported income didn’t seem to merit a Ferrari.
Italy’s tax police released a chilling statement on their new policy:
“These people are pushed to defraud by the mirage of easy money, to allow themselves the luxuries that they would otherwise not be able to afford — luxuries that are often the first clue [they’re not paying all their taxes].”
Let’s ignore that this statement implies Italy’s tax policy is aimed at keeping people from enjoying their success, and move right along…
It’s Happening in Argentina and Spain, Too
In Argentina, all credit card transactions must be reported to their tax agencies. So citizens better not spend more money than their income allows, or they may get a visit.
Spain wants to keep tabs on your spending too. And that’s why they’ve outlawed cash transactions over 2,500 Euros.
By ensuring large transactions are made digitally, it’s much easier to track.
Italy, in fact, has also banned cash transactions… of anything over 1,000 Euros! And Greece is on its way to doing the same thing.
And all this is being done to limit privacy in the name of catching tax evaders.
But this could never happen in the United States, right?
It’s Already Reached the States
The state of Louisiana has already banned the use of cash for garage sales, flea markets, Craigslist postings… or any other method of selling “secondhand” property.
According to the law, if you sell used goods more than once a month, you are considered a “secondhand dealer” and are banned from using cash transactions.
Instead you must use checks, electronic transfers or money orders – all forms of payment that leave an obvious paper trail.
Apparently skipping taxes from your garage sale “profits” has become a concern.
And There’s More Where That Came From
…broke governments are going to do all they can to find revenue.
Fortunately, we can teach you how to minimize your tax burden 100% legally, so you never have to fear the IRS.
But just in case your privacy is important to you as well, we’ll be keeping an eye on governments around the world as they hunt for more money.
Just read these books and see how much minimizing your taxes can add to your wealth, go here now: