While I'm not in the US, it still somewhat applies as I pay a comparable tax rate. I think it makes sense for most people who aren't tied down to move as internet infrastructure is comparable or better in some previously 3rd world countries. You do have to take into consideration visa rules which can be very complex and can change with little notice (as is happening in Thailand now). There is also the lack of any social security net, you'd be very much alone (or with family, who are typically just an obligation).
Successful traders: why don't you move to a 0% capital gains tax country?
- Thread starter pgo1970
- Start date
While I'm not in the US, it still somewhat applies as I pay a comparable tax rate. I think it makes sense for most people who aren't tied down to move as internet infrastructure is comparable or better in some previously 3rd world countries. You do have to take into consideration visa rules which can be very complex and can change with little notice (as is happening in Thailand now). There is also the lack of any social security net, you'd be very much alone (or with family, who are typically just an obligation).
suppose you make good money and want to pay less tax, which of the following places you want to move to?
http://www.forbes.com/sites/kellyph...n-the-world-is-spoiler-alert-its-not-the-u-s/
from least tax burdened to most:
http://www.forbes.com/sites/kellyph...n-the-world-is-spoiler-alert-its-not-the-u-s/
from least tax burdened to most:
- India
- Canada
- China
- Mexico
- Russia
- United Kingdom
- Netherlands
- United States
- Germany
- Australia
- Brazil
- Japan
- Italy
- France
Singapore, Hong Kong : are their taxes much higher than any of the countries on your list? 
Q F T
Seriously, that right there. Trust me, I know. I lived in Mexico for a time. The tax system in Mexico is absolutely unbelievable. No kidding, they give prizes to people who consistently pay their taxes. Friends of ours had their own business in San Juan Del Rio on the border of Estado De Mexico, in Queretaro. And on the floor in their house in Tequis, I see two flat screen TV's.
Knowing they already had four TV's, we asked what was up with the TV's?
Oh, we won those in the tax lottery.
Uh .... Come again?
Yeah, if you pay your taxes consistently, and honestly, you are entered to win prizes
W T H?
So live in a nice place like Queretaro in Mexico, and pay less tax right? Wrong. On two counts. First, moving out of the country as an American citizen does not mean that I don't have to pay US Tax as a US citizen. The old system of moving your money elsewhere is not working anymore. If the Swiss are giving up information to the IRS, heck ... any country is going to give it up to the IRS. And most countries do allow IRS agents in foreign countries to investigate US citizens.
Second, as Richard says, a) I feel I should contribute what I owe, and b) after living for a while in Mexico? The structure that I enjoy here, is off the charts.
First, your question is equivalent to:
Hey residents of NYC, Tokio,Paris,etc. why don't you move out to the countryside where the cost of living is 10- 20% of your current one? The answer is obvious....
Second, the US is taxing on worldwide income so unless you get a new citizenship AND wait for 10 years, the question is pointless.... Of course there are other tricks, but people do appreciate their freedom (as not in prison for not paying taxes)
Hey residents of NYC, Tokio,Paris,etc. why don't you move out to the countryside where the cost of living is 10- 20% of your current one? The answer is obvious....
Second, the US is taxing on worldwide income so unless you get a new citizenship AND wait for 10 years, the question is pointless.... Of course there are other tricks, but people do appreciate their freedom (as not in prison for not paying taxes)
Actually a lot of those things u can get in low tax countries, either because there are first world ( like Singapore, switzerland or nederlands and belgium which are cap gains friendly )or u can purchase most of it privately. I'm surprised u didÅt mention the confort of staying among ur own people or culture\language. It´s worth quite a bit of money
Private international schools also cost quite a bit of money
i think i'lll spend quite a few more years in the far east, among others for tax reasons, but with kids it´s not worth doing the move to save taxes on a 150k yearly income. For single adults, it's much easier.