Death and taxes

I am not commenting on the so called "big story" of the day, the tax cuts for the rich. Why?

Because:

A. I know nothing about economics

B. Anyone rich enough and smart enough to make money probably hides their income in overseas tax shelters (legal or illegal) so they don't have to pay taxes anyway. Panama Papers anyone? Anyone?

C. Companies facing a high tax will move elsewhere to make a profit. Low tax states already know this in the US, But it also means maybe moving overseas.

I haven't read this being discussed anywhere, but then I haven't bothered to read the blather on the news anyway.

when we moved here, we filed taxes for years, until Lolo's IRA died so our income was just below the level to pay (we filed to get a refund of the automatic deductions).

Do you know a couple years ago, they passed a bill requiring us to pay taxes on our bank accounts here?

Luckily for Lolo, he reverted to Philippine citizenship when he moved here, so only paid local taxes on his savings. (I kept my money in the US so no problem.)

Now, if my husband did that to save double paying taxes, why do the blather mouths think that huge corporations with smart lawyers won't do the same thing?

just wondering...