Living on a boat and avoiding taxes

Quote from Ripley:

Don't you plan to have kids and send them to public school etc one day?

For that and for many other reasons, I think taxes are healty for a society, a necessary evil.
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10% is healthy. 40% isn't anymore...

When I look at the statistics of the federal budget in my country, I can see that :

- 20% is going to elderly people (who aren't rich enough nowadays...in case you don't know...)
- 14% is spent just for the administration that collects taxes !!!!
- 8% is given to agriculture (why not to another profession ? we'll never know why...)
- 10% for the army, which doesn't serve to anything

That's already 50% of taxes going nowhere...
 
US brokers do not report any tax information to foreign governments. They only report 1099 info to the US. So theoretically (of course), your government will never know what you made or lost in the US markets unless you tell them. I think you see where I'm going with this...
 
science_trader:

>Croatia : no capital gain taxes, and very low cost...

I took a closer look at Croatia and it is true that they currently dont have trading taxes. Not for very long i guess. But even not paying taxes for about five years would be enough for me to reach my goal.

>40% of your income going to the state ? How horrible !
>Why work then ?

People work till May for governments who then spents it for us on stuff we dont like.
The people dont muck because everyone else is suffering the same.
Only some individuals, who see through herd mentality, try to get rid of this 3000 year old bloodsucker.
Monarchies for example dont have taxes because they dont need to permanently pay interests on their non existent debts or financing wars.

Just21:
>Andorra has 0% tax. Do a search on this site for the Andorra thread.

I did and know all about Andorra. It is very small and over 80% of the people are foreigners living there to hide from taxes.
Thing is they want to reduce the 80% foreigner level to 20%.
S this might get complicated. Still a possibility.
Its about 4th place on my personal tax avoidance list.
1st Croatia ( currently no tax for trading gains )
2nd Switzerland ( no Tax on capital gains but expensive )
3rd Italy ( 12,5% taxes on trading gains )

syrre:

I was more thinking of something like this.
wentworth3-houseboat.jpg


Luke24.5:

Thanks for the link.
 
There is a way to compound your gains legally without paying any taxes for as long as you wish. It is like a 401 K for all your assets.

And it doesn't involve moving away to another country or anything... nothing in your life changes and it is perfectly legal.

But, it isn't a complete tax avoidance but you move the taxes off to a much later date so that you can use what you would've paid out in taxes to accumulate even more capital.

You are a foreign citizen and is interested? Pvt me and we will talk.
 
Quote from bronks:

Just throwing this out there. Is it possible to belong to no country at all?
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Yes, if you have a U.N passport. You either have to work for the U.N or be a refugee from a UN recognized warzone.

I agree, high taxes are a undue burden. Slovaks have 15% flat tax. Open an account with a Slovakian brokerage and go rent a cheap room in some village as a permanent slovak address. In these times of high speed internet, you could live in Tibet and trade your Slovakian account. Offcourse the Bahamas or Caymans would be preferable.
 
You should sit down and pencil it out. I'd bet you'd spend about as much on the boat and maintenence as you'd spend on taxes. Between upkeep, gas, and forgone risk-free returns on the purchase of the boat, it would likely be a wash after a while (if not a loss), plus it would be less than luxerious living. Also, keep in mind that trading returns are not guaranteed; these costs are.
 
The Principality of Sealand is a micronation (i.e. a self-declared, unrecognised state-like entity) that claims as its territory Roughs Tower, a derelict man-made structure located in the North Sea six miles (10 km) off the coast of Essex, United Kingdom, at 51° 53′ 40″ N 1° 28′ 57″ E. It is occupied by the family and associates of Paddy Roy Bates. The population of the facility rarely exceeds five, and its inhabitable area is 550 m².

http://en.wikipedia.org/wiki/Sealand
 
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