ULTIMATE Money Glitch : How to Bankrupt the IRS and Profit via /r/wallstreetbets #stocks #wallstreetbets #investing


ULTIMATE Money Glitch : How to Bankrupt the IRS and Profit

So most probably know that you can deduct up to 60% of your taxed income by donating to charities. When donating, if you donate stocks, bonds etc there are ZERO CAPITAL GAINS tax on the earnings from those investments. Another important note is that there are no laws restricting what charities you can donate to, and it does not matter if you are affiliated with the charity.

So, the cost of opening a charity is typically just a few hundred bucks. If you were to open your own charity under your name with a banking business account under your name, each year you can “donate” your stocks to the charity, avoid paying capital gains tax, deduct 60% of your personable taxable income, and still RETAIN OWNERSHIP of your investments!

By doing thus, the IRS’ income will be drastically reduced meaning the government will go bankrupt with this one simple trick. So the plan would be to short GOVT (US Treasury Bond ETF) and because the US would have less money they would default on their bond payments sending this ETF through the floor.

We pay less taxes, and make money while the IRS defaults. WIN – WIN

TLDR

  1. Open Charity under your name with a business bank account in your name.
  2. Donate stocks to charity to avoid capital gains tax.
  3. Write off 60% of your taxable income as a donation.
  4. Retain ownership of stocks since charity is in your name.
  5. Short GOVT (US T-Bond ETF) as the government will default on bond payments since they aren’t collecting as much taxes.
  6. PROFIT!

Positions – YOLO Short position on GOVT

Submitted February 18, 2022 at 12:34AM by Snackers12345
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