Indentured Servitude, Money Laundering, and Piles of Money

[AmberCutie]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

Yeah...

While I am sure it happens SOMETIMES, I am getting a little sick of the propaganda being spewed by one of the models interviewed on that article. I've unfollowed her Twitter due to the incessant ranting going on about it, and I am disappointed that a model I once admired and befriended is so anti-MFC and generally seems anti-camgirl lately. I expect she's going to move on from cam girl to book author soon and that seems to be her single-minded focus at the time.

My heart is saddened, but I must move on...

 

[Nordling]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

What's cool about the internet can also be it's biggest downside. While it gives anyone a chance to voice their opinion, it sometimes lends credibility to people with no real analytical abilities like Perez Hilton or this author.

 

[UncleThursday]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

That tip was also the winning tip for a 'highest tip of the month wins' contest to vacation in Thailand at Mila's place, sleep there and all that might entail. So basically it was the last tip in the contest - all it had to do was beat all the others. It was tipped by the same guy who'd apparently won a previous contest to fly there and meet/sleep with her, which of course prompted many accusations of shenanigans.

Not commenting on whether it was legitimate or not because I have no idea, but I will point out that such a contest IS open to a massive amount of abuse. A person could collect the entire month's worth of entries then just make sure the final self-tip beats them all.

If it was a self tip, then she would have still lost at least $3000 on it, if not more. But a self tip like that in the context of highest tip wins a trip to visit me type thing... well, it does a few things.

1. Ensures that no actual member gets anywhere near the model, so she wouldn't have to worry about some strange dude trying to fuck her or force himself upon her if that's what she feared. (Not saying that whoever won would necessarily try that, but, let's face it, there are some whackos out there... and even non-whackos would definitely be thinking "I just spent $16k+ on you... you're definitely giving me something in return!")

2. Shoots her camscore through the roof the next time it updates, pretty much ensuring she is at the top of the front page for at least a month or more.

3. Throws her higher up in the Miss MyFreeCams contest for the month. Maybe even to #1 depending on how much she made that month in addition to said huge self tip.

So, in a way, I could see it being worth it to a model to spend that type of money on herself, especially since she'd end up getting back close to 80% of what she had spent on herself (since the tokens cost less than 10 cents per when buying that big and the model still gets 5 cents per),

Again, purely hypothetical way of looking at it...

 

[UncleThursday]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I mean, why launder money through MFC/Streammate/etc. when you aren't going to even get all of the money back? The site takes its cut, and then they also have to pay the model. There are far more profitable ways to launder money out there than using cam models.

I think the same as this. Also it doesn't make sense to me. Because to buy tokens you need a credit/debit card, pretty much meaning you need a legit bank account. Unless you fancy also going through bank account fraud. Then you'd buy the tokens on mfcs, completely traceable if the bank wanted to look it up, and you went and tipped said model a large amount. Well you've left a great big fat trail. Yes that model's money is now legit, but the trail will lead back to you, or will watch the model to see what she does with the money.
Personally I cannot see why something so risky would be worth losing 40%+ of your money, not even including what the model would take, when like you said, there are so many cheaper ways to launder money. Usually filtering it into a business that isn't always exact with stock checks.

And in these days of prepaid credit cards, honestly, it's even easier to launder money.

Hypothetical:

I'm an organized crime man, and I have $10,000 in cash I need laundered. Let's say I also own a cam studio that broadcasts on MFC. We'll also say I own a few store fronts that sell actual merchandise.

The article would suggest I could filter the money through MFC tokens. So I buy a prepaid credit card, max it out on tokens (we'll say there is a hypothetical $10k purchase), then spend it on my studio girls. OK... now MFC has close to half of that $10k, and I will never see it. Then I pay my girls their 50% of what comes in from the tokens, so I am now down to only getting maybe $3000 back out of that $10k I needed laundered. So I will lose 70%-75% of what I wanted to clean.

Hardly profitable.

Or, I could get a prepaid credit card (or, hell, the damn cash itself) and go around to my store fronts and "purchase" items. But I never remove them from stock or take possession of them. Now all I lose is money paid out as normal business expenses (that I already have anyway: rent, paying employees, taxes, etc.) and any sales taxes that may be in place. But, since I never actually removed said items from my stores, I now have extra inventory to sell. So, when I sell that extra inventory, it comes back to me as profit. So, assuming the extra inventory gets sold, all I have lost is my sales tax (if any) on the fake purchases. So I get back at least 85% of what I needed laundered.

Far more profitable, but still losing a little.

Then there's the other ways people launder money, anyway. One of which you mentioned. Hell, some money laundering operations know how to not only clean the dirty money, but turn a profit for those who want it cleaned, as well.

It's asinine to believe people who think studios are there to launder money for organized crime. The return on investment is so small, it's not worth it. The whole idea behind laundering money is to get back most, if not all (or more) of what you needed cleaned; not to get back a small fraction of what you initially had.

If a studio is owned by organized crime, then they're doing it because they know it can make a lot of money for very little investment on their part. Rent a building or use one you already own, get equipment, get tech support/management/etc., hire models. As long as camming isn't considered prostitution in your country, then the whole thing is above board and legit. As long as the books stay clean, it's not even something that law enforcement would even look at. BAM! Instant profit, assuming that your girls pull in tokens.

 

[Jupiter551]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

That tip was also the winning tip for a 'highest tip of the month wins' contest to vacation in Thailand at Mila's place, sleep there and all that might entail. So basically it was the last tip in the contest - all it had to do was beat all the others. It was tipped by the same guy who'd apparently won a previous contest to fly there and meet/sleep with her, which of course prompted many accusations of shenanigans.

Not commenting on whether it was legitimate or not because I have no idea, but I will point out that such a contest IS open to a massive amount of abuse. A person could collect the entire month's worth of entries then just make sure the final self-tip beats them all.

If it was a self tip, then she would have still lost at least $3000 on it, if not more. But a self tip like that in the context of highest tip wins a trip to visit me type thing... well, it does a few things.

1. Ensures that no actual member gets anywhere near the model, so she wouldn't have to worry about some strange dude trying to fuck her or force himself upon her if that's what she feared. (Not saying that whoever won would necessarily try that, but, let's face it, there are some whackos out there... and even non-whackos would definitely be thinking "I just spent $16k+ on you... you're definitely giving me something in return!")

2. Shoots her camscore through the roof the next time it updates, pretty much ensuring she is at the top of the front page for at least a month or more.

3. Throws her higher up in the Miss MyFreeCams contest for the month. Maybe even to #1 depending on how much she made that month in addition to said huge self tip.

So, in a way, I could see it being worth it to a model to spend that type of money on herself, especially since she'd end up getting back close to 80% of what she had spent on herself (since the tokens cost less than 10 cents per when buying that big and the model still gets 5 cents per),

Again, purely hypothetical way of looking at it...

right...yet I remember Mila on twitter in about Sep 2010 talking about how she had several hundred thousand tokens saved up to self-tip when she was having a bad patch, in the same breath as saying CrazySysy (who won that month) and Shyteenn were the result of two romanian studios having a pissing contest. Probably all of it was conspiracy/ranting, but the first part didnt sound so much like it was.

 

[UncleThursday]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

right...yet I remember Mila on twitter in about Sep 2010 talking about how she had several hundred thousand tokens saved up to self-tip when she was having a bad patch, in the same breath as saying CrazySysy (who won that month) and Shyteenn were the result of two romanian studios having a pissing contest. Probably all of it was conspiracy/ranting, but the first part didnt sound so much like it was.

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical. Then again, I think fairly logically, I might be more vulcan than human. But, to me, it would be wiser to save the money over spending it and only getting half or so back from it.

Wasn't Mary still on her GoldenLady account back in 2010? I know her GoldenLady account was a studio account. I don't know if Shy was ever a studio girl, though. As far as I am aware, she's always been on her own account, and is still on the same account. But I could be wrong.

Truthfully, though, it just sounds like Mila feels that she should be the center of the universe and looks for ways to put down anyone who might be doing better than her at a particular time. Fine, she's got big tits. She's done porn, and maybe still does it. She's earned enough to have at least two places to live. But she seems to, at least from my PoV from what is going on here, still try to play the "woe is me" card and the "well, I know everything about this business" card at the same time. Maybe, just maybe, if she can't find any enjoyment in being a cam model besides the potential income from it, she should just STFU and GTFO. It might just be time for a new career. Maybe her book will do well. Who knows?

 

[SoTxBob]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical.

I know of more than a few girls that have done this in the past.. they view it as an advertising cost and not an 'illogical loss'. The return is closer to 62% also. Remember Uncle, no matter how much you think you know.. you still aren't a camgirl nor can you rationalize like they do. :-D

"well, I know everything about this business"

This is so common in EVERY THREAD OF DAILY LIFE its almost laughable how prevalent it is. Camgirls and members are no different in this respect.

Just remember.. never shine the light behind the curtain of Oz....you might not like what you see.

 

[Paulie Walnuts]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I mean, why launder money through MFC/Streammate/etc. when you aren't going to even get all of the money back? The site takes its cut, and then they also have to pay the model. There are far more profitable ways to launder money out there than using cam models.

I think the same as this. Also it doesn't make sense to me. Because to buy tokens you need a credit/debit card, pretty much meaning you need a legit bank account. Unless you fancy also going through bank account fraud. Then you'd buy the tokens on mfcs, completely traceable if the bank wanted to look it up, and you went and tipped said model a large amount. Well you've left a great big fat trail. Yes that model's money is now legit, but the trail will lead back to you, or will watch the model to see what she does with the money.
Personally I cannot see why something so risky would be worth losing 40%+ of your money, not even including what the model would take, when like you said, there are so many cheaper ways to launder money. Usually filtering it into a business that isn't always exact with stock checks.

The article is ridiculous though.

When you have millions to launder, getting the money clean usually means you end up with 40% or so once all the hands take their cuts. As for bank accounts, and where the money comes from that's fairly easy to with shell corps. and overseas banks. The more money flowing around the less people tend to ask questions about it.

Cleaning dirty money isn't cheap. It's hard to imagine the convoluted ways its done and how many hands it takes. :?

 

[Paulie Walnuts]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

Not if the cards being used are used slowly and erratically. Many stolen CC numbers stay in circulation for a long time before the owners notice the odd charges.
If the card has been tapped for over 90 days and nobody notices the card holder will have a hella time doing any chargebacks.

Not all stolen card and numbers are maxed out in a day. A lot of them are milked slowly over many months, or years.

 

[AllisonWilder]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

This is all very sad and seems pretty silly to me. If someone wants to self-tip, who really cares? It's not illegal and it's not money laundering. It's simply boosting your camscore so that you can have more viewers and ultimately, more viewers usually means more tokens coming your way. It's just an investment, same as a bunch of panties to sell, a fucking machine or a quality cam and internet connection.

It's highly unlikely that there's a bunch of organized crime laundering money via camgirls. Is it a possibility? Sure. Is it happening with every top girl? Absolutely not.

I'm saddened to see this bullshit article getting so much press and publicity. It really is just a bunch of crap.

:twocents-02cents:

 

[LailaBaise]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I really hate it when I pull my jeans out of the washing machine and find a sodden fiver in the back pocket. So annoying.

 

[MakaylaDivine]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

You could do prepaid cards and load them with cash.

All I know is a camgirl on here explained camscore to me as basically $18/hr per 1000 of camscore....so last month I worked like crazy trying to win and I finished #8 on the miss mfc contest and honestly I see some cam score of 25K and 54K ahead of me and Im like WTF does that girl really make 3x or 6x as much as me per hr bc I felt like a rock star with what I was earning and at the same time disheartened that so much more exists and I have no idea of how to get it. I mean even if you spend 1 hr straight in true private thats $240/hr which would leave you a camscore of 13k correct? Maybe I misunderstood how camscore is calculated from whoever explained it....so your talking the 25K camscore girls generate on avg $500/hr per hr theyre online??? Is that correct??? Thats madness if true wow!!!

 

[AmberCutie]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

You could do prepaid cards and load them with cash.

All I know is a camgirl on here explained camscore to me as basically $18/hr per 1000 of camscore....so last month I worked like crazy trying to win and I finished #8 on the miss mfc contest and honestly I see some cam score of 25K and 54K ahead of me and Im like WTF does that girl really make 3x or 6x as much as me per hr bc I felt like a rock star with what I was earning and at the same time disheartened that so much more exists and I have no idea of how to get it. I mean even if you spend 1 hr straight in true private thats $240/hr which would leave you a camscore of 13k correct? Maybe I misunderstood how camscore is calculated from whoever explained it....so your talking the 25K camscore girls generate on avg $500/hr per hr theyre online??? Is that correct??? Thats madness if true wow!!!

Yes that is correct, but not necessarily *while* they are online.

 

[MakaylaDivine]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

You could do prepaid cards and load them with cash.

All I know is a camgirl on here explained camscore to me as basically $18/hr per 1000 of camscore....so last month I worked like crazy trying to win and I finished #8 on the miss mfc contest and honestly I see some cam score of 25K and 54K ahead of me and Im like WTF does that girl really make 3x or 6x as much as me per hr bc I felt like a rock star with what I was earning and at the same time disheartened that so much more exists and I have no idea of how to get it. I mean even if you spend 1 hr straight in true private thats $240/hr which would leave you a camscore of 13k correct? Maybe I misunderstood how camscore is calculated from whoever explained it....so your talking the 25K camscore girls generate on avg $500/hr per hr theyre online??? Is that correct??? Thats madness if true wow!!!

Yes that is correct, but not necessarily *while* they are online.

Thanks Amber, you've never personally talked to me, but last month I was going nuts trying to keep up with #4 and #5 I wont post names, and honestly I can only remember 2 or 3 of the girls who finished ahead of me really working like crazy like me.....I mean 1 girl literally had a 54k cam score and would log on like 4-5 hrs a day if that, and her room was always empty....but by the formula i was told 385 tokens x 54 she would be making about $1000/hr how is that truly possible i mean come on

 

[JickyJuly]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

You could do prepaid cards and load them with cash.

All I know is a camgirl on here explained camscore to me as basically $18/hr per 1000 of camscore....so last month I worked like crazy trying to win and I finished #8 on the miss mfc contest and honestly I see some cam score of 25K and 54K ahead of me and Im like WTF does that girl really make 3x or 6x as much as me per hr bc I felt like a rock star with what I was earning and at the same time disheartened that so much more exists and I have no idea of how to get it. I mean even if you spend 1 hr straight in true private thats $240/hr which would leave you a camscore of 13k correct? Maybe I misunderstood how camscore is calculated from whoever explained it....so your talking the 25K camscore girls generate on avg $500/hr per hr theyre online??? Is that correct??? Thats madness if true wow!!!

Yes that is correct, but not necessarily *while* they are online.

Thanks Amber, you've never personally talked to me, but last month I was going nuts trying to keep up with #4 and #5 I wont post names, and honestly I can only remember 2 or 3 of the girls who finished ahead of me really working like crazy like me.....I mean 1 girl literally had a 54k cam score and would log on like 4-5 hrs a day if that, and her room was always empty....but by the formula i was told 385 tokens x 54 she would be making about $1000/hr how is that truly possible i mean come on

She's probably one of the girls that makes bank in the hours she's offline. Offline tips add to the amount you're making without adding to the time you're spending online. So if you're spending double the time online that she is and making the same amount, her score is going to be substantially bigger than yours.

 

[Jupiter551]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I never thought the credit card scam theory made sense either. It was also supposed to be a kind of money laundering - stolen credit cards used to buy tokens, which are then tipped, then the model passes them back? MFC would get every single one of those charged back, and would boot the model.

Not if the cards being used are used slowly and erratically. Many stolen CC numbers stay in circulation for a long time before the owners notice the odd charges.
If the card has been tapped for over 90 days and nobody notices the card holder will have a hella time doing any chargebacks.

Not all stolen card and numbers are maxed out in a day. A lot of them are milked slowly over many months, or years.

Sure but the whole reason Shyteenn (one of the major girls accused of this) was the postergirl for this conspiracy theory is winning miss MFC at least once (maybe more) and consistently finishing highly for many months after. So the tips that people were questioning were bombs!

right...yet I remember Mila on twitter in about Sep 2010 talking about how she had several hundred thousand tokens saved up to self-tip when she was having a bad patch, in the same breath as saying CrazySysy (who won that month) and Shyteenn were the result of two romanian studios having a pissing contest. Probably all of it was conspiracy/ranting, but the first part didnt sound so much like it was.

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical. Then again, I think fairly logically, I might be more vulcan than human. But, to me, it would be wiser to save the money over spending it and only getting half or so back from it.

Wasn't Mary still on her GoldenLady account back in 2010? I know her GoldenLady account was a studio account. I don't know if Shy was ever a studio girl, though. As far as I am aware, she's always been on her own account, and is still on the same account. But I could be wrong.

Truthfully, though, it just sounds like Mila feels that she should be the center of the universe and looks for ways to put down anyone who might be doing better than her at a particular time. Fine, she's got big tits. She's done porn, and maybe still does it. She's earned enough to have at least two places to live. But she seems to, at least from my PoV from what is going on here, still try to play the "woe is me" card and the "well, I know everything about this business" card at the same time. Maybe, just maybe, if she can't find any enjoyment in being a cam model besides the potential income from it, she should just STFU and GTFO. It might just be time for a new career. Maybe her book will do well. Who knows?

Mary was on goldenlady maybe 2009 or earlyish 2010? She was on Crazysysy by Sept 2010 for sure cos she won miss mfc on it that month. As for the studio theory it was in tinfoil-hat-territory even before you take into account that neither were in studios.

As Bob said - self-tipping a reasonable amount at an appropriate time could easily be written off as a cost of doing business. Depending how much a top camscore model can expect to earn in a week, is it really so unbelievable to sacrifice half of one's weekly earnings to boost the score and therefore attract more traffic? Within reason, it could be seen as an investment.

 

[IsabellaSnow]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

If it was a self tip, then she would have still lost at least $3000 on it, if not more. But a self tip like that in the context of highest tip wins a trip to visit me type thing... well, it does a few things.

More like $7500

250,000 tokens costs $20,000, she would make $12,500.

In that specific high tip comp, if the tip was a self tip she'd have had to have been tipped 150,000 tokens just to break even! Doable for a top model, and if you just break even, you'd have done great things for camscore and not have lost any money! Besides camscore and publicity you wouldn't be gaining much by way of financial reward, except for the hope that more people would tip in future. Risky game to play though. For me rather takes the fun out of it.

As for models saving up tokens etc, my guess is that on their premium account when they're doing very well and have money to spare, they'll buy some tokens, so that when you're having a bad run, camscore goes down etc, you can tip yourself a big tip!

 

[Jupiter551]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

I really hate it when I pull my jeans out of the washing machine and find a sodden fiver in the back pocket. So annoying.

never bothers me, we have polymer bank notes

 

[Jupiter551]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

If it was a self tip, then she would have still lost at least $3000 on it, if not more. But a self tip like that in the context of highest tip wins a trip to visit me type thing... well, it does a few things.

More like $7500

250,000 tokens costs $20,000, she would make $12,500.

In that specific high tip comp, if the tip was a self tip she'd have had to have been tipped 150,000 tokens just to break even! Doable for a top model, and if you just break even, you'd have done great things for camscore and not have lost any money! Besides camscore and publicity you wouldn't be gaining much by way of financial reward, except for the hope that more people would tip in future. Risky game to play though. For me rather takes the fun out of it.

As for models saving up tokens etc, my guess is that on their premium account when they're doing very well and have money to spare, they'll buy some tokens, so that when you're having a bad run, camscore goes down etc, you can tip yourself a big tip!

Yeah it totally depends on the amount of tokens during the month leading up but I wouldn't discount it being well more than 150,000 - an all expenses paid trip to Thailand, sex with a top MFC model and keeping in mind she was (I think) often in the top 5 Miss MFC around that stage - she would have had bomb tippers for sure. Besides, she wouldn't have self tipped 250k unless the preceding high tips were at least approaching that figure right?

 

[Paulie Walnuts]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

The laundering thing if you think about it can go something like this:

Eastern Euro/Asian country crook has a fuck ton of illegally obtained cash. They set up a large studio sweatshop, tip their own models huge amounts of tip money. Cam site XYZ takes the funds, pays the Models a cut. The studio crooks take most of that money back off the models if not all of it. Add to that pile the legit token earnings the models got from being on can site XYZ's top 20 list or, on the most popular room list.

Camsite XYZ pays out though online services or banks in the US or the EU, in dollars or Euros.

The crooks end up with about a 35-40% yield in clean money in many model's clean bank accounts that they promptly bleed dry and start over. From where the dirty drug/crime money started as cash deposits into many 3rd party "clean" bank accounts, paid out to several cam sites often to the same model, working several sites at one time being put into the models bank accounts and then transferred again into the studio crooks accounts as expenses or debt payments....

I can see where cam sites would be a really quick and barely traceable way to launder money.

My old man had a fortune when he left my mom, and by the time a court wanted to know where it was he has "lost it" all in dozens of complicated "investments". Years later when he was ready to retire he suddenly became fairly wealthy again.

Now, he's a self absorbed idiot, so I think any slick greaseball crook could use the interwebs and cam sites/studios to clean a lot of dirty money, and harvest even more along the way from the studio workers.

 

[UncleThursday]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical.

I know of more than a few girls that have done this in the past.. they view it as an advertising cost and not an 'illogical loss'. The return is closer to 62% also. Remember Uncle, no matter how much you think you know.. you still aren't a camgirl nor can you rationalize like they do. :-D

True... but I'm also thinking as a US citizen here... Where, basically, a model who tips herself gets taxed twice for the same money.

She pays her taxes (quarterly, every 6 months, yearly, however she does it) on her earnings. Then she tips herself out of those earnings. As far as the IRS is concerned, though, the money she gets back from the self tipping is new earnings. So, she gets taxed twice (essentially) for the same money.

So, using small round numbers as an example: Let's say she earned $1000. She then takes $200 of that and buys tokens to self tip later. Eventually self tips, so she gets back roughly $100 of it. According to the IRS, though, she earned $1100, even though she paid herself with part of the $1000. So now her income tax is higher and she has less money to show from the initial $1000, overall. Basically, she pays the taxes on $1100 while only keeping $800 before getting taxed on it.

It might be different in other countries. And, you're right, I can't rationalize how a cam model would think in that regard. But, myself? I'd hate to be taxed at a higher rate than what was really earned, while not having the full amount of what was initially earned.

 

[RedHerby]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

The laundering thing if you think about it can go something like this:

Eastern Euro/Asian country crook has a fuck ton of illegally obtained cash. They set up a large studio sweatshop, tip their own models huge amounts of tip money.

How can I transfer my "illegally obtained cash" that's now in a shoe-box under my bed to my MFC account in a way that's not traceable by the authorities?

 

[UncleThursday]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

The laundering thing if you think about it can go something like this:

Eastern Euro/Asian country crook has a fuck ton of illegally obtained cash. They set up a large studio sweatshop, tip their own models huge amounts of tip money.

How can I transfer my "illegally obtained cash" that's now in a shoe-box under my bed to my MFC account in a way that's not traceable by the authorities?

Buy prepaid cards with cash?

 

[Jupiter551]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

The laundering thing if you think about it can go something like this:

Eastern Euro/Asian country crook has a fuck ton of illegally obtained cash. They set up a large studio sweatshop, tip their own models huge amounts of tip money.

How can I transfer my "illegally obtained cash" that's now in a shoe-box under my bed to my MFC account in a way that's not traceable by the authorities?

Buy prepaid cards with cash?

I've never seen pre-paid plastic credit cards that don't require ID, I can't imagine Visa/Mastercard etc would endorse it.

Any way you look at it the idea of money laundering in this way is far too easy to trace. Forensic accountants can trace transactions across international borders, through shady tax havens, businesses used as fronts...etc. If it's CASH we're talking about it doesn't even need to be laundered, and certainly not at a 40% loss, leaving a trail. The only reason they would have to launder such money is if it were already in bank accounts or credit, in which case it would take a Forensic accountant about 5 minutes to trace the money to a pre-paid virtual card, subpoena the issuer to divulge where it was charged to, subpoena MFC for the member who used that card to buy tokens and the model who recieved them.

 

[LadyLuna]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical.

I know of more than a few girls that have done this in the past.. they view it as an advertising cost and not an 'illogical loss'. The return is closer to 62% also. Remember Uncle, no matter how much you think you know.. you still aren't a camgirl nor can you rationalize like they do. :-D

True... but I'm also thinking as a US citizen here... Where, basically, a model who tips herself gets taxed twice for the same money.

She pays her taxes (quarterly, every 6 months, yearly, however she does it) on her earnings. Then she tips herself out of those earnings. As far as the IRS is concerned, though, the money she gets back from the self tipping is new earnings. So, she gets taxed twice (essentially) for the same money.

So, using small round numbers as an example: Let's say she earned $1000. She then takes $200 of that and buys tokens to self tip later. Eventually self tips, so she gets back roughly $100 of it. According to the IRS, though, she earned $1100, even though she paid herself with part of the $1000. So now her income tax is higher and she has less money to show from the initial $1000, overall. Basically, she pays the taxes on $1100 while only keeping $800 before getting taxed on it.

It might be different in other countries. And, you're right, I can't rationalize how a cam model would think in that regard. But, myself? I'd hate to be taxed at a higher rate than what was really earned, while not having the full amount of what was initially earned.

First of all, she gets to keep $900 of it ($800 from the original $1000, and $100 from the self-tip).
Second of all, she gets to claim $200 as business expense under "advertising". $900 + $200 = $1100 so no money lost at all.

 

[Just Me]

Re: Indentured Servitude, Money Laundering, and Piles of Mon

So, she would spend some of her earnings on tokens, to tip herself when she was having a bad month? Doesn't sound logical.

I know of more than a few girls that have done this in the past.. they view it as an advertising cost and not an 'illogical loss'. The return is closer to 62% also. Remember Uncle, no matter how much you think you know.. you still aren't a camgirl nor can you rationalize like they do. :-D

True... but I'm also thinking as a US citizen here... Where, basically, a model who tips herself gets taxed twice for the same money.

She pays her taxes (quarterly, every 6 months, yearly, however she does it) on her earnings. Then she tips herself out of those earnings. As far as the IRS is concerned, though, the money she gets back from the self tipping is new earnings. So, she gets taxed twice (essentially) for the same money.

So, using small round numbers as an example: Let's say she earned $1000. She then takes $200 of that and buys tokens to self tip later. Eventually self tips, so she gets back roughly $100 of it. According to the IRS, though, she earned $1100, even though she paid herself with part of the $1000. So now her income tax is higher and she has less money to show from the initial $1000, overall. Basically, she pays the taxes on $1100 while only keeping $800 before getting taxed on it.

It might be different in other countries. And, you're right, I can't rationalize how a cam model would think in that regard. But, myself? I'd hate to be taxed at a higher rate than what was really earned, while not having the full amount of what was initially earned.

Actually, if you have a halfway decent tax person, I am pretty sure this could be done as a business expense, or reinvestment in the business. There are tax breaks for regular business's doing this, not sure if it would work for private contractors.