Best Alternative to US Citizenship

Quote from Mom0/pH0x:

and don't forget that we have the highest incarceration rate in the world, both in terms of absolute number and % of the population. over 1% of american adults now live in jail or prison. so much for the "land of the free" huh?
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Well, I don't necessarily have a problem with incarcerating people. I'm far more concerned with WHY they are incarcerated.

"The more corrupt the state, the more numerous the laws" - Tacitus

In the United States far too many people are incarcerated for drug and tax reasons. In the interest of full disclosure, I've never so much as tried drugs in my life. However, the dumbest, most expensive war America as ever fought is the war on drugs. And the result is that I've never met anyone who has not done drugs because the are illegal. Have you? I fail to understand why a government should have jurisdiction over what people choose to ingest.

How much would the incarceration rates decline if drugs were legalized?

As for taxes....that is the only part of civil law where you are guilty until proven innocent. The IRS can literally wreck your life because it can inflict punishment (ruin your credit with liens, freeze your assets) without first proving that you did something wrong. The IRS is truly an organization of government thugs.

No, this is not the land of the free.
 
Quote from Mom0/pH0x:

i don't have a problem with incarcerating people either BUT when you do more of it than anyone else in the world your claim to "the land of the free" moniker kind of evaporates if you ask me...
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I hear ya. Just to go further...I think I've made the case far more people are incarcerated than those who are officially behind bars. The U.S. was such a great country. So sad.
 
Switzerland is your only real choice for all those 3 things. Other alternatives fail on one of the 3 qualities you mention. Monaco and Singapore are authoritarian police states; Cyprus is not a free country and has poor healthcare; UK/Ireland have iffy healthcare by 1st world standards, are unfree in certain important respects (sex, drugs, guns) and the non-dom tax regime has a good chance of disappearing in the coming years. Canada has high taxes, along with most of W Europe. Part of E Europe have moderate personal liberty, lowish taxes (15-20%), and so so healthcare. Australia/NZ have high taxes and crappy timezones for trading. HK is now part of China so personal liberty is an issue even more than under UK control previously.

You don't need citizenship in a low tax country though - just any reasonable 1st world country with enough clout internationally that you will be helped if the shit hits the fan abroad. Since you have Italian background, you should be able to get citizenship there. Then look into Swiss residency requirements, or tolerate the downsides of places like Monaco, E Europe, Ireland/UK, Cyprus etc.
 
Quote from SuperVolatility:

US is the best place to be as far as taxes...if you can manage your money right ... you should be able to to avoid paying huge taxes. You just have to learn what to do.

The only tax hits you pay "immediately" in the US is the payroll tax, US government pulls out Fed. State. SSI, SS, taxes before you know it...even then there is a way avoid paying high Fed. State taxes...BUT SSI and Social/MediCaid you can't avoid simply.

I am not advocating tax evasion but rather tax avoidance.
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YOu can avoid social security taxes with rental income and/or investment income. Futures income not only avoids social security, 60% of the income is taxed at long term capital gains rates.

There are many deductions you can use against rental income. Plus when you sell the property it is either taxed at long term capital gains rates, or you can exchange it for another like property under exchange rules, and defer taxes. Again, no social security tax on rental income.

You only pay social security tax on EARNED INCOME. The above are examples of two forms of income that are not earned income.

OldTrader
 
Quote from Ghost of Cutten:

and the non-dom tax regime has a good chance of disappearing in the coming years.
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Some say the same thing about the Swiss flat tax regime after the Zurich cantonal vote. I doubt it will happen anytime soon though, for neither the UK nor CH. The UK introduced their 30k tax for the long-term non-dom's, anything else would probably drive top many wealthy foreigners out of the country to competing jurisdictions, which would probably do more harm than good net/net to UK tax revenues. Same with Switzerland.

Ireland also has a non-dom regime it seems: http://www.finfacts.ie/irishfinancenews/article_1013363.shtml
 
Quote from Mom0/pH0x:

utter bullshit. like i said previously if you actually make good money, most european nations tax you LESS than the united states because their tax regimes are LESS progressive. on top of that, there is no capital gains tax in most euro nations.

it's getting more and more apparent to me just how few people here actually make good money...
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Would like to break down for us (those who don't make good money as you put it) which European nations, what is the break-down, bracket...etc. It might take some time for you to craft a response...but at least your post will not be considered an utter bullshit.
 
Quote from OldTrader:

YOu can avoid social security taxes with rental income and/or investment income. Futures income not only avoids social security, 60% of the income is taxed at long term capital gains rates.

There are many deductions you can use against rental income. Plus when you sell the property it is either taxed at long term capital gains rates, or you can exchange it for another like property under exchange rules, and defer taxes. Again, no social security tax on rental income.

You only pay social security tax on EARNED INCOME. The above are examples of two forms of income that are not earned income.

OldTrader
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Oldie - you are right on all counts, and by payroll tax on SS, Medicare I meant the earned the income. Indeed you can do hte property a 1031 exchange tax free, or you can do a 1031 form of exchange of proceeds to a certain investment types such as energy exploration/development where sometimes 80% of your investment is deductible the first year. If you need details I'll have to look it up...Eventially you'll pay less or no taxes.
I remember Warren Buffet testified couple years ago in Washington and said something like his seceratary pays more in taxes than many hedge fund managers. I am sure he meant in terms of percentage of income...not necessarily dollar amount.
 
Quote from Mom0/pH0x:

and don't forget that we have the highest incarceration rate in the world, both in terms of absolute number and % of the population. over 1% of american adults now live in jail or prison. so much for the "land of the free" huh?
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I suppose it would be much better if we let out all of the criminals, including tax cheats, so everyone would be, um, free?

LOL--gotta love ET.
 
Quote from Angrycat:

The very fact that I'm not free to work here and pay taxes voluntarily and I'll be hunted down where ever I am in the world by U.S. thugs euphemistically known as the IRS, makes me feel like escaping. When a country has to trap its citizens, what does that say about the country?
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If not familiar with the FairTax, please read about it. I promise, you'll like what you read. There is going to be a huge advertising campaign coming out in 2010 to educate the public. This is EXACTLY what our country needs.

http://www.fairtax.org/site/PageServer
 
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