
Tax-Free Storage Wars - fourmii
https://longreads.com/2018/05/29/tax-free-storage-wars/
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mxuribe
As impressive as digital hackers might be at wielding systems with their
mastery over tech dark magic...that pales in comparison to the impact that of
the hackers who hack legislation and tax avoidance. I'm constantly astonished
(and often saddened) by stories such as these relevant to the 1%-ers.

~~~
hkmurakami
impact is just leverage. Leverage is not just financial.

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extra88
Planet Money did a show about freeports and art storage.

[https://www.npr.org/sections/money/2018/02/09/584555705/epis...](https://www.npr.org/sections/money/2018/02/09/584555705/episode-823-planet-
monet)

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gowld
TL;DR: overcomplicated international tax laws lead to deadweight loss for non-
productive work in the tax avoidance "industry". Municipalities grant property
tax exemptions so that local politicians can hobnob with billionaires.

~~~
schoen
I think your summary misses a main point of this article.

Entrepreneurs set up a very high-security art warehouse in Harlem (New York)
with a main selling point that it enjoys a formal exemption from Federal
import taxes on fine art. However, no such taxes exist in the U.S. The author
believes that the tax exemption provides a kind of cachet for the warehouse
even though there is no practical benefit, and that customers may not even
realize that they don't get any financial benefit from storing artworks there.

~~~
dsfyu404ed
Relevant xkcd

[https://xkcd.com/641/](https://xkcd.com/641/)

~~~
bmpafa
This reminds me of something I read once about pain reliever marketing. 'no
other pain reliever acts faster' == 'they all act exactly the same speed'

Lies, damn lies, damn damn lies, and marketing.

