Posts tagged "tax the wealthy"

What Are White Collar Crimes?


Usually, we associate the word “crime” with people killing other people, robbing banks, or stealing money from another person or establishment because these are the types of crimes that we hear and see on the news from day to day. “White collar crimes”, on the other hand, may be known but are usually unidentified. Simply put, people may be familiar with examples of white collar crimes but don’t actually know that these are classified as “white collar”.

White collar defined

The term white collar crime was first coined by Edwin Sutherland in 1939. In one of his speeches, he defined such crimes to have been committed by a person of authority in the course of his term. He further theorized that these criminals are different from street criminals when taking motives and attributions into consideration. Today, however, the definition of white collar crime is still a subject of contention among experts of law. In a general sense, though, these crimes are nonviolent and are committed for financial gain.

Examples of white collar crime

There are many examples of white collar crime, some of which are the following:

 1.       Blackmailing

This is an act in which a person threatens to expose secrets, pose physical harm to people or their properties, in exchange for money.

 2.       Bank fraud

This is when people engage in a scheme wherein the aim is to illegally obtain money from a bank.

 3.       Extortion

This happens when a person or a group of persons engage in unlawful acquisition of somebody else’s property, money, or other assets by violent force – either actual or threat.

 4.       Embezzlement

This occurs when a person who is in charge of handling money uses it for personal reasons.

5.       Racketeering

When people establish and operate illegal business for financial profit.

 6.       Tax evasion

When people or an individual intentionally commits errors in filing income tax in an attempt to refrain from paying higher taxes

The above mentioned examples of white collar crime are only few of the actual number of white collar crimes existing today. Aside from these, there’s also money laundering, securities fraud, cellular phone fraud, and many others. People who are charged with white collar crime must seek the services of a professional white collar crime lawyer in order to be duly represented in court.

Looking for a white collar lawyer

Just like in choosing a doctor, you have to choose a white crime lawyer with care. Remember, this is the person who holds your chances in his hands. If you wind up with someone whose knowledge is direly limited and has only been practicing since recently, then your chances of winning at court will likely be lower. Here are some considerations for choosing a white crime lawyer:

1.       Is he someone you are at ease with?

You will have to expose all the details of the incident to your lawyer – imagine doing that to someone with whom you are not even comfortable just starting small talk with. Make sure your lawyer makes you feel at ease and unthreatened.

 2.       Does his rate fit your budget?

During consultation, clarify whether charges are hourly or flat. This should help you get the right expectations in terms of budget.

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Cedric Loiselle is a passionate and versatile writer specializing in a wide range of niches. It would help you a lot if you read his articles especially when you are looking for the best white collar crime lawyer New Orleans can offer, such as those under Ben Bagert Law Firm.


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Posted by Taxmaster - May 11, 2013 at 6:50 pm

Categories: Tax Evasion, Tax Law   Tags: , , , , ,

The Fairness of Taxes and the Wealthy

At the center of the confrontation between leaders over the fiscal cliff lies one particular question, is the federal income tax system fair? And in particular are those in the wealthiest income brackets paying their fair share. And while there seems to be consensus, at least to some degree, between President Obama and Speaker of the House John Boehner that federal income taxes should be raised for the wealthy, there is still debate over the amount the increase should be. There are many who would argue that the wealthy currently pay a disproportionate portion of federal income taxes, which is supported by recent data from the IRS. What seems to be missing, however, is an understanding of how the data does not accurately depict what the wealthiest Americans truly make.

Recently an analysis of the 2010 federal tax returns was released by the IRS, showing the different income groups allocation of federal income taxes. According to the analysis, the highest earners (individuals with an adjusted gross income of at least $369,691) were paying approximately 37% of all federal income taxes, even though they accounted for less than 19% of total income. When looking at this statistic alone, it would seem that there is validity in saying that the wealthy do pay a disproportionate amount of federal income taxes.

While statistics are best for interpretation of data, they are only as good as the information they are based on, and in this case the data is inherently misleading. The amount individuals pay for federal income tax are based only on what the federal government defines as income. In the case of the richest Americans many other sources of income are not included (e.g. inheritances, distribution of trusts, ect.). This shows that while the richest of Americans pay a disproportionate amount of the federal income taxes, much of their income goes tax-free.



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Posted by Taxmaster - January 20, 2013 at 11:05 pm

Categories: Federal Tax, Income Tax, Tax Law   Tags: , , , , , , , ,

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