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re: .
Posted on 1/26/17 at 10:00 am to teampick
Posted on 1/26/17 at 10:00 am to teampick
quote:
Certainly you understand the black market and how it works. We've had bootleggers, cocaine cowboys, gun runners, etc, etc. if people want to avoid the remittances, a new economy will take root to make it happen. It's inevitable.
Just because your net doesn't ensnare every fish doesn't mean it doesn't ensnare a lot of them.
1
Posted on 1/26/17 at 10:01 am to SlowFlowPro
Not to mention that a card issued in the US and used exclusively in Mexico might throw up some red flags.
Posted on 1/26/17 at 10:01 am to cahoots
quote:
Well that's a poor case because most Mexican workers aren't getting cash advances because it's a bad deal.
It's an analogy. I'm sure you can figure out the parallel reasoning.
Posted on 1/26/17 at 10:01 am to cahoots
quote:
There are a million ways around the tax. You know I'm right. No one is going to pay a 25% tax. It's just not gonna happen.
most of these methods can be attacked
plus
if the mexican government is taxing these remittances, this hypothetical underground economy will completely buttfrick the government
Posted on 1/26/17 at 10:01 am to cahoots
quote:
A Mexican worker can open a Chase account in the US, mail the debit card to Mexico, and draw cash out of an ATM in Mexico.I just got cash out of an ATM in Mexico City last month.
the mail system in mexico is horrific.
I feel confident there will be ways to avoid the remittance tax. And once they are figured out, they will spread like wildfire. I think the easiest would be to use green dot money packs. Its pretty easy to do this via text.
Posted on 1/26/17 at 10:02 am to PillageUrVillage
quote:
Not to mention that a card issued in the US and used exclusively in Mexico might throw up some red flags.
Chase isn't opening up a debit account for an illegal immigrant for a deposit of $23. It just isn't going to happen. Trust me.
Posted on 1/26/17 at 10:02 am to PillageUrVillage
quote:
Not to mention that a card issued in the US and used exclusively in Mexico might throw up some red flags.
exactly. that would be easy as shite to regulate
now there is one angle: cartels. they could basically set up their own underground banking system for this ($25B/year is a lot of money)
Posted on 1/26/17 at 10:03 am to SlowFlowPro
quote:
now there is one angle: cartels. they could basically set up their own underground banking system for this ($25B/year is a lot of money)
If you think a tax is expensive, wait until you see the price the cartel charges.
Posted on 1/26/17 at 10:03 am to Hawkeye95
quote:
I think the easiest would be to use green dot money packs.
it's not the wild west when these weren't regulated/monitored
you have to enter in all your personal information to use these cards these days
Posted on 1/26/17 at 10:04 am to therick711
quote:
If you think a tax is expensive, wait until you see the price the cartel charges
i think that for the illegal immigrants, it's more about moving money "back home"
Posted on 1/26/17 at 10:04 am to SlowFlowPro
Dude the point is that there will be an underground way to transfer money. Mexicans cross the border illegally. Drugs cross the border illegally. Money will cross the border illegally in large quantities.
Give it up.
Give it up.
Posted on 1/26/17 at 10:06 am to cahoots
Yep, no tax has ever been collected. Too hard. Taxing authorities should just give up.
Posted on 1/26/17 at 10:06 am to therick711
Hard to use that money to pay for a wall when it cost you more to catch the money smugglers and launderers than the money you seize. That too is inevitable. History lessons will have to be re-learned here as well. God, our public schools are awful.
Posted on 1/26/17 at 10:07 am to SlowFlowPro
quote:
most of these methods can be attacked
plus
if the mexican government is taxing these remittances, this hypothetical underground economy will completely buttfrick the government
Plus, it seems a lot of these hypothetical measures to get around the tax would effectively cost more than the tax itself.
Posted on 1/26/17 at 10:07 am to cahoots
American Express Travelers Checks.
Anyone can walk into the AAA office in Murfreesboro, TN, and buy them and mail them anywhere in the world. Completely liquid and untraceable. Completely refundable if lost or stolen. Absolutely untraceable. No card. No bank account. Nothing online. Zero ability of Uncle Sam to get a penny.
That's why taxing remittances more than 10% is foolish. A Mexican in McMinnville, TN, isn 't going to drive an hour one way to Murfreesboro to save $50 on a $500 transaction. But if the tax is exorbitant, they absolutely will find an alternative.
Traveler's checks. Most people on this board probably never used one if they never owned a cassette player. But someone tell me why traveler's checks wouldn't be an easy way around the tax.
Anyone can walk into the AAA office in Murfreesboro, TN, and buy them and mail them anywhere in the world. Completely liquid and untraceable. Completely refundable if lost or stolen. Absolutely untraceable. No card. No bank account. Nothing online. Zero ability of Uncle Sam to get a penny.
That's why taxing remittances more than 10% is foolish. A Mexican in McMinnville, TN, isn 't going to drive an hour one way to Murfreesboro to save $50 on a $500 transaction. But if the tax is exorbitant, they absolutely will find an alternative.
Traveler's checks. Most people on this board probably never used one if they never owned a cassette player. But someone tell me why traveler's checks wouldn't be an easy way around the tax.
This post was edited on 1/26/17 at 10:09 am
Posted on 1/26/17 at 10:08 am to cahoots
quote:
Dude the point is that there will be an underground way to transfer money.
not via US banks or credit cards
you're going to have to either physically move cash to Mexico, use BTC, or rely on the cartels forming an underground banking system
quote:
Drugs cross the border illegally. Money will cross the border illegally in large quantities.
drugs are moved across the border with large near corporate structures analyzing and studying how to do this efficiently. remittances are not organized, nor are the people who would be sending money back be on that level of sophistication
now will regulations "catch" ALL remittances? frick no. there is still online poker in the US
will it drastically slash them to the point of death? likely (there isn't that much online poker in the US)
Posted on 1/26/17 at 10:09 am to Y.A. Tittle
quote:
Plus, it seems a lot of these hypothetical measures to get around the tax would effectively cost more than the tax itself.
yeah like dealing with cartels and their juice
or sending a $50 Fedex package for a $100 (?) payment?
Posted on 1/26/17 at 10:09 am to Iosh
quote:
Smartphones are exotic rarities in Mexico!
I mean, are they not? Middle class there is <$1,000/month. I know purchasing power is significantly larger, but would still think it's a hitherto vastly underpenetrated market.
Posted on 1/26/17 at 10:10 am to SlowFlowPro
They will charge less than the remittance tax or they won't be smuggling cash back to Mexico on behalf of others. That's really not too complicated.
Posted on 1/26/17 at 10:10 am to SlowFlowPro
quote:
you're going to have to either physically move cash to Mexico, use BTC, or rely on the cartels forming an underground banking system
Ever used a traveler's check? Unlike cassette players, they are still out there.
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