The difference is you only need to transfer enough money to your personal bank a... | Hacker News

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		nodamage on May 13, 2021 \| parent \| context \| favorite \| on: Uber used 50 Dutch shell companies to dodge taxes ... The difference is you only need to transfer enough money to your personal bank account to cover your annual expenses. So if you make $500k/year but only spend $100k/year, then the other $400k will continue to grow tax free.

fighterpilot on May 13, 2021 [–]

That's a pretty big difference. Makes the idea of a sales tax only kind of attractive since it doesn't disadvantage income over capital gains.

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