Quote from Max E. Pad:
I think about this all the time, and am currently actively engaged in finding a way to avoid taxes, just for 10 years atleast, before i start a family.
Here are all the cons i have faced so far from moving around, and not having a stable place where to live.
1.) Hard to find a girl who is willing to give you ten years to amasse a fortune before you settle down for the family thing. Only girls i have met so far willing to do this with me are girls who have no intention of having a family, and very little intention of even having a job. Though i once met a quality chick at a brothel in argentina who definitely seemed to want a relationship..... She had the marriage papers all ready to sign before i even went home, now there is someone who is commmitted, hard to deny she wanted me for my personality, and nothing more.
2.) Almost any area you go to has drawbacks which you wouldnt think of that basically eliminates the pros of being able to live a tax free life. For example i went to Panama for a bit and was thinking about incorporating for 0 income tax, but over the time i spent there the internet and power outages were almost enough to elminate the tax benefit, and there is no way in hell i could ever trust the place enough to settle down and start a family.
3.) This one is huge for traders, if you trade through a U.S. firm, and you move to a place like Belize, the U.S. will still try to tax you if you trade through an american company, even without u.s. citizenship. The tax treaty whereby the u.s. will allow you to go tax free as a foreigner only applies if you live in a place where you pay taxes to someone and they have a tax treaty with the u.s.
I.E. most of these places you can live in where taxes are zero, if you have a trading account in a u.s. company, the government is going to figure out a way to get something out of it. So your only option is to find a company that has the same quality access to u.s. markets, without actually being in the u.s.
I worked for one based out of cyprus, and as you can imagine, look what just happened to cyprus. I was very lucky not to have much tied in with them.
I'm not really just thinking about taxes, although if i was making real money i would probably feel differently. Bottom line is any country that is even remotely safe needs tax revenue to, at a bare minimum, defend the place. So I can accept that, what i can't accept is seeing the whole place change around me into something it was never supposed to be. Reality is I'm probably not going anywhere, this country 'could' be awesome again, we just need a good housecleaning.
