How is this? Either you directly pay U.S. Personal income taxes or you don't. There is no middle ground according to the IRS.
I've Never Liked Hillary...
- Thread starter Scataphagos
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How is this? Either you directly pay U.S. Personal income taxes or you don't. There is no middle ground according to the IRS.
The IRS gets their pound of flesh before my share of our US earnings makes its way across the border. My salary and bonus are denominated in CAD$, yes, but the latter is heavily dependent on the profitability of our various divisions abroad. As a US citizen I'm also required to file a form 1040 every year.
But none of that matters, anyway, since I'm entitled to my opinion about whether the US should or should not be battling inequality.
of course taxing those who make a living battles inequality.
Why not just give more to those you want to give more... and if you really want to take money take it from those who are gathering in the the assets... the top .05%.
Why not just give more to those you want to give more... and if you really want to take money take it from those who are gathering in the the assets... the top .05%.
You don't pay cap gains here. You don't pay estate taxes here (or wouldn't). No medicare increase for you (assuming you are old enough). Dividend taxes don't apply to you, nor do any real estate transaction taxes.
If, and only if, you still pay US income taxes, you are allowed to go the expat route, which is to declare foreign income tax credit and only pay - what is it now...85,000 of income tax? If you're on an expat package, the company likely picks up your foreign taxes for you. If you're localized, then they don't report to the US and you can essentially pay whatever the hell you want. I used to be an expat and know the system quite well.
So you're really not paying US taxes in anywhere near the manner in which those of us who live here are.
Of course you are entitled to your opinion on the subject. But without skin in the game, it's a view from the cheap seats.
We have Canadian registered operations so I'm not on a foreign worker program. The way I look at it, if business local and corporate taxes were lower in three states where we have our biggest presence, my yearly bonus, which is most of my compensation, would be higher. That's direct enough for me. As for everyone else, most US residents don't pay the taxes on Yannis' list, either.
That's a convenient way to look at it, I suppose, for this argument. I mean, you could argue that if the taxes affected GDP, and GDP was lower because of increased taxation, and your bonus is linked to the performance of the company, and the company is linked to sales in the US, and the hip bone to the thigh bone, etc.
You don't pay US taxes.
As for the folks here, the cap gains and dividend probably affect everyone here. The higher income tax brackets probably too (with the exception of loyek on his couch - although he probably gets medicare). Any who sell their house get hit with the RE transaction tax probably.
So it's very relevant to us.
Actually, I do pay property tax on a house in Colorado. But that tax wasn't on the list.
: )
Noted. Everyone lobby Colorado to raise property taxes. You know, for the children.
LOL