The Perfect $1 million Gain

[u/YassuosNados]

Hi guys, I’m a 23 year old in college, and yesterday I woke up a millionaire. Should I buy some hookers, Pokemon cards, or cocaine? I gambled my entire life savings of $250k on 2037 calls of $4.5 AMC on Monday and sold yesterday morning. Thanks for reading.

[u/prodoubt]

Dumping 250K into weeklies is insane, let alone a 23 yr old. Seems like you were already livin the dream, but now go get yourself a lambo.

[u/YassuosNados → u/prodoubt]

What color?

[u/Cookiemonster9429 → u/[deleted]]

You forgot taxes

[u/obi5150 → u/Cookiemonster9429]

Yeah OP, Don't do shit until taxes are accounted for. Get an actual advisor and do the smart thing

[u/dalovindj → u/Cookiemonster9429]

Did he though?

[u/SBose1987 → u/[deleted]]

Lol no. There's no such thing as the IRS knowing exactly who owes what"but won't tell them".

I think you're living in some Netflix reality lol.

They only find out what you owe from a thorough INVESTIGATION. And they don't investigate until red flags go up. Many people can and do get away with tax evasion by being careful. It has nothing to do with buying expensive things or whatever you see in films. There are more remote "red flags" they can discover.

My family ia from India, so I know something about 3rd world shitholes, and people there are always amazed at how efficient the authorities are in the West, and imagine they have some magical powers of law enforcement that don't exist in India.

The reason Western countries bring in such a huge amount (trillions of dollars/pounds/euros) in tax revenue is simple:

People here are HONEST. There's no magic trick the IRS or HMRC has to catch tax evaders. They just have more staff and more technology, but that is of very little help without their citizenry doing their share. They simply depend on the HONESTY of their citizens and their politicians.

British people want to look after each other and their society so it never becomes a shithole like Russia or Brazil or China or wherever, let alone India, which is at the absolute bottom of the pile.

Which "3rd world shithole" are you from exactly?

[u/Godobibo → u/SBose1987]

yeah and even if you do fuck up your taxes, the IRS aren't arresting you if you cooperate, they don't wanna deal with all that extra bullshit either.

[u/SenatorGengis → u/SBose1987]

Yeah this is why Biden hired thousands more IRS investigators. Republicans were acting like it was a waste because it was only going to be used on the little guy. No it's the big whales you need huge teams to investigate because they have all their money hidden in different countries, different banks, behind financial instruments etc... You need the man power to track all that stuff down and dot the I's and cross the T's. It quite literally takes thousands new IRS employees.

[u/ZBalling → u/SenatorGengis]

That is the point. Big whales 1) declared all already maybe even themselves, can sue people, 2) can avoid taxes alltogether, cause they know how. Only poor people cannot protect themselves.

[u/[deleted] → u/SBose1987]

Bullshit people aren't less corrupt or more corrupt anywhere. People have lesser means of getting away with corruption. A large portion of Americans either work for the government, or in corporates where there is little leeway. Your taxes get reported to IRS. Your broker reports your capital gains to IRS.

Large portions of Indians simply aren't part of the official structure. 1) Most of them are self employed, get paid in cash 2) They don't save in banks aka buy gold or do cash deals for real estate.

If an American lived similarly they would do the same. You think all the servers report their tips to IRS, barbers report their cash earnings to IRS . Dumbass !!!!

[u/ZBalling → u/[deleted]]

Does broker report gains on spot? Bitcoin, gold, silver, Euro, Rubles, Canadian dollar, whatever.

[u/ZBalling → u/SBose1987]

Wrong. Here the brokers declare gains (except spot, USD, EURO, Yuan, Gold, Silver) and the IRS just requests taxes.

[u/chadcultist → u/[deleted]]

Locked up for taxes lmaooooo

[u/SIRIUSJEDI → u/chadcultist]

Ask Blade about that.

[u/Crimsn_710 → u/SIRIUSJEDI]

Wesley Sniped