Biden wants to Raise Taxes on those making 400k or more !
- Thread starter derektrader
- Start date
Which country would that be?
I don’t think people making significant money from capital gains should be paying lower rates than those from ordinary income. That’s the biggest flaw in the tax code. The actually ordinary income tax rates are already pretty high. What I would like to see to reduce the debt is to cut military spending in half.
Just move to Canada. Their taxrates are lower than the 40% from Biden.
40% is expensive??? Watch these rates. These are not the highest rates, just at what income you reach the 40% barrier. Check also the Scandinavian rates of you want to see what is expensive. Up to 60%.
PS: Switzerland??? What you save in taxes you will pay extra for housing. A small flat can cost you till 6000 euro per month. Live is very expensive too. Don't just focus on taxes, take all costs in account and see what your yearly total cost is. Monaco has no income tax. If that is the only criteria nothing can beat that.
This panic over the 40% proposed by Biden is hilarious and only idiots panic over that. And most of the people who panic will never pay it as their income is far less than 400K.
PSS: Move to Africa, there people pay no taxes at all. But you will have to struggle all your live to survive. And never get very sick because finding a hospital can be a real challenge.
40% is expensive??? Watch these rates. These are not the highest rates, just at what income you reach the 40% barrier. Check also the Scandinavian rates of you want to see what is expensive. Up to 60%.
PS: Switzerland??? What you save in taxes you will pay extra for housing. A small flat can cost you till 6000 euro per month. Live is very expensive too. Don't just focus on taxes, take all costs in account and see what your yearly total cost is. Monaco has no income tax. If that is the only criteria nothing can beat that.
This panic over the 40% proposed by Biden is hilarious and only idiots panic over that. And most of the people who panic will never pay it as their income is far less than 400K.
PSS: Move to Africa, there people pay no taxes at all. But you will have to struggle all your live to survive. And never get very sick because finding a hospital can be a real challenge.
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- Not all people that react live in the US. You think like the typical American: there is no live outside the US.
- I make money but pay a flat fee somewhere outside the US. So you conclusions are like I mentioned in point 1. There are traders that are profitable and live outside the US. Try to understand that the whole world is not just the US. I know that trying that is very difficult for some Americans.
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Interesting. Raising taxes on the rich (Or high earners) is as a sound idea as it can be, but the devil is always in the details. You must close tax loopholes. The wealthy & high earners can easily afford top class tax advice to legally evade or defer taxes, so the real beneficiaries would be tax advisors.
I doubt that those tax advisors actually lobby politicians trying to raise taxes on the rich without really looking at the tax code. Everything has perfect legal loopholes, you just need to know where to find them or hire someone to guide you through them.
I doubt that those tax advisors actually lobby politicians trying to raise taxes on the rich without really looking at the tax code. Everything has perfect legal loopholes, you just need to know where to find them or hire someone to guide you through them.
I am not american.
No OECD country in the world has taxes that are close to being that high so idk wtf you are on, even african countries don't have taxes this high. lol
Edit: to find taxes that high you have to go to India where people open defecate and the elites are fleeing out lmao