Detroit officially declares Bankruptcy

[mrplunkey]

so we would need the government to test for real assets and employees.

Shit its not gonna work

Oh I agree it's a flaw in the plan. We'd have to rely on some ridiculous test like the IRS uses for substantial presence.

For example, we can't put a computer in Dublin Ireland that automatically accepts our US-based purchase orders from customers, marks them up 25% and sends them back to our real business in the US (with the profits remaining in Ireland).

But do not fret. Corporate America has always stayed ahead of the IRS rules on substantial presence -- which is part of what is driving all the white collar jobs overseas these days.

 

[-SD-]

Oh I agree it's a flaw in the plan. We'd have to rely on some ridiculous test like the IRS uses for substantial presence.

For example, we can't put a computer in Dublin Ireland that automatically accepts our US-based purchase orders from customers, marks them up 25% and sends them back to our real business in the US (with the profits remaining in Ireland).

But do not fret. Corporate America has always stayed ahead of the IRS rules on substantial presence -- which is part of what is driving all the white collar jobs overseas these days.

Im trying to figure out a way that could all apply to selling bathtub gear.

 

[mrplunkey]

Im trying to figure out a way that could all apply to selling bathtub gear.

Use bitcoins and don't record the transactions in the first place.

No money changes hands = No taxes = All good.

 

[-SD-]

Use bitcoins and don't record the transactions in the first place.

No money changes hands = No taxes = All good.

whats bitcoins

 

[redsamurai]

Thank you. I needed that kind of visceral laugh this evening.

careful not to laugh too much or you'll upset the delicate balance lunesta requires of you. Talk about a shit life though that you get a "visceral laugh" over the demise of a major American city which could destroy livelihoods. The people that will get the worst of it are the ones that had the least to do with the cities financial mismanagement. I'm starting to laugh now too cause I see how fucking hysterical that concept is. Nothing funnier in life than people getting their lives destroyed. Real talk.

 

[WoodyO]

whats bitcoins

Holy fuq. There's more to the interwebs than EF, ya know.

 

[redsamurai]

whats bitcoins

you don't even want to know. It's definitely an interesting concept, a digital currency the fed doesn't control. But the way the money is actually created reads like a bad acid trip. To create one bitcoin is basically a computer, or multiple computers strung together, working on an insanely complicated mathematical algorithm. It would take one computer like a year or more to make "one" bitcoin. So you then send the result somewhere and they verify what your computer produced is infact a bitcoin and away you go. If it sounds potentially "real" shady it's cause you're brain is still halfway functioning.

 

[WoodyO]

you don't even want to know. It's definitely an interesting concept, a digital currency the fed doesn't control. But the way the money is actually created reads like a bad acid trip. To create one bitcoin is basically a computer, or multiple computers strung together, working on an insanely complicated mathematical algorithm. It would take one computer like a year or more to make "one" bitcoin. So you then send the result somewhere and they verify what your computer produced is infact a bitcoin and away you go. If it sounds potentially "real" shady it's cause you're brain is still halfway functioning.

But, it's great for doing illegal shit online. Something as small as buying a cyberlocker, or some joose, or as big as buying a few hundered kilo's of coke.

 

[redsamurai]

But, it's great for doing illegal shit online. Something as small as buying a cyberlocker, or some joose, or as big as buying a few hundered kilo's of coke.

of course, that's what it was made for. Silk Road ftw!!! lols

 

[redguru]

Use bitcoins and don't record the transactions in the first place.

No money changes hands = No taxes = All good.

Yeah, what's the value of a bitcoin this second, wait a couple millisecs it'll change.