The US has a lot of tax loopholes for the filthy rich billionaires. Per capita, the US has the most billionaires on the planet. That should tell you how much they are able to game the system and pay as little as possible. Working stiffs with 9-5 jobs probably, pay more taxes as a percentage of their income. A good tax accountant and or attorney probably, can point you in the right direction on how to avoid paying a lot of taxes.
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Yes there are now YouTubes purporting to explain a lot of these ways and means to the average Joe. But i'm coming from the same general school of information as this ex-IRS agent, Joe Bannister. Here he is breaking it down. Starts off with his back ground, and the meat starts at 10:50 I got an A in Business Law in college (so i have some trust in my ability to read law books and grasp it), and after reading/researching the US tax Code myself in the early 90's, satisfied my own demand for understanding that this is indeed the situation. As an individual (not as a corporation), i have not filed since then.
Of course, I'd be happy with that too. Do you have a strategy that is possible 11 out of 12 months by any chance (or know of one)?
Scalpers usually are green +80% of the days. If you want to be green every day. That's the way to go.
It seems to me, a compassionate person ought to be en garde against the potential for federal taxation to go in the direction of: "from each according to his ability, to each according to his needs," which tends to demotivate productive achievement and historically has even led to the starvation and deliberate killing of >60m non-combatant civilians, in multiple countries over various times. Having said that, there's a required set of vital functions of federal government, which must be funded by taxation: i) the police to protect you from criminals; ii) the military to protect you from foreign invaders; and iii) the courts to protect your property and contracts from breach or fraud by others and to settle disputes by rational rules, according to constitutional law. Otherwise, a minority of criminals can more easily run the show, as we see in venezuela, mexico, brazil, and columbia, and the occasional autist leader with narcissism, like lenin, stalin, putin, tends to invade neighbors he perceives as militarily weak. Playground bullies only respect opposing strength. The power of congress to tax income derives from Article 1 of the Constitution ("the congress shall have power to lay and collect taxes..."), rather than from the 16th Amendment. The latter simply eliminated the requirement (in Article 1) that an income tax must be 'apportioned,' i.e., that each citizen pays the same amount, irrespective of relative wealth or earned income. The primary author of the Constitution, Madison, describes the purpose of Article 1 in Federalist No. 42, including the purpose of it to cover not only an external excise tax on imported goods but also a tax on internal commerce: https://guides.loc.gov/federalist-papers/text-41-50 I read Bannister's argument, including his 94 page paper. With my stated sentiment in his direction, I tried but alas didn't find his argument technically correct. His argument relies on distorted interpretation of certain terms in the relevant statutes. But even if we were to grant for the sake of argument that the 16th amendment was not properly ratified: 1) that's not where congress gets its power to tax, and 2), even so, a tax is vital for certain government functions, and we should reluctantly accept it or even welcome it to that extent, albeit no further.
%% YES, long term averages, much more than 12 months. Benchmarks like cash SPY+ QQQ related, , non cash SPY+ QQQ related, combined with a decades home+ commercial service business, combined with Real Estate; combined with cash farm, [combined with cocasional leveraged farms], combined with cash metals business, combined with occasional cash daytrades, combined with occasional leveraged daytrades. Sorry i lost money in my somewhat seasonal egg business; but Rose Acre Farms did $702 million+ Chicago exchange failed in egg contract, so stuff happensLOL Bottom line , may find a group combo that profits