Successful traders: why don't you move to a 0% capital gains tax country?

[smallStops]

Well, what you most succeed in convincing me is to keep my kids away from public sector influence (teachers and students alike);.. It is (worryingly) hard to fathom for you but in some circles it is seen as very nefarious - and kids are to be educated from kindergarden to A levels in private schools.
Now roughly what percentage of the kids in Henri IV have parents working in the private sector ? It's basically 100% in some right bank private schools.

hmmm I remember someone saying :"I would not like my kid to go to M.I.T Engineering School". Till someone asked : "could your kid get in ?" Now I understand what the question really meant.

I guess in countries like the UK, going private is a minimum for any parent who can,
But in countries like France, seriously it is about the kid capability : the problem is not about "wanting", but being able to be taken in and most importantly not being booted out.
As I am very glad not to have fallen into the traps of non-planned/wanted parenthood, in good conditions ( partner choice,... ), I do not have to deal with these issue. So that is me done here. And I am skipping this thread. Take care

 

[luisHK]

I understand you are very proud of the school you graduated but obviously this public education taught you to be very liberal with the facts if that help state apologism and self satisfaction.
Again in the list below your beloved henry IV comes in the 8th spot only behind a bunch of private high schools.


http://classement-lycees.etudiant.lefigaro.fr/academie-paris

You are misleading so many times in this thread, hinting that private education is for students failing in the public system.

http://www.ourkids.net/private-schools-versus-public-schools.php

"Private schools are allowed to expel students and can choose not to allow certain students admittance. In fact, many private schools are difficult to get into. Public schools allow all students, regardless of religious creed, academic abilities or any other factor. - See more at: http://www.ourkids.net/private-schools-versus-public-schools.php#sthash.7m2U3Y3J.dpuf "

Actually in Paris secular private schools, the rejection rate is probably higher than in catholic schools (from memory it's 1 out of 4 accepted in Jeanine Manuel kindergartens, and it's much less afterwards)

Public schools have to accept students, you're misleading taking the example of a few public schools in France which have a tough selection process like they are the norm. There are only few and far between, the norm beeing they have to accept students living nearby. Public education system, especially in elementary schools loath not only at expelling children but also at having them fail, hence bad pupils just go up the ladder and mess up the classes, which is one of the reason parents chose to switch to private education.

Now you didn't reply to me, do they offer prepa HEC, and how many students from Henri IV end up in HEC (coming back to Dealmaker's last post, the most influential business school, called the Harvard of Europe in the forbes newsclip below ). From what I hear not many, I'm afraid you're taught the wrong mindframe there. Henri IV is mostly a litterary school, which makes it worse when it comes to wrong mindframe.

http://www.forbes.com/sites/mattsymonds/2013/07/09/leadership-lessons-from-the-harvard-of-europe/


As of your mention of pushing underpriviledged kids in top public high schools and unis, for many it is seen as a dent to a meritocratic system, as better students from well to do families lose their spot to students with lesser results.

More than the excellence of your education, through your posts I read what's wrong with it.

 

[luisHK]

Actually the figaro listing is presented a little strangely, usually Henri IV LLG and Jeanine Manuel are in the top five , and actually if one presses Henri IV it shows First if french lycees. More in tune to what i'm used to read . Would feel more confortable to have kids in l'école alsacienne or Jeannine manuel and probably some of the top catholic school than in HIV though, i think HIV is a nice acronym btw, parents should be wary to have their kids under the influence of public sector teachers and the kind of family who feel confortable there.
You're totally oblivious of reality if you think parents care little about values a kid might get from school.
Which reminds me of another issue regarding this Thread :
Upon living overseas one has far less choice with schools than in their home country and probably won't be able to select social circles for themselves and their kids the way the could back home

 

[luisHK]

I smell BS...

You make Henri IV look pretty bad, have you actually been there, at least for a visit ?
You claim they change 25% of the students yearly , which is quite surprising as this is the sign of a subperforming school.
They come year after year in the top 5 High Schools in France actually because they switch very few of their students. 95% who enter 2nd there will graduate in Henri IV 3 years later according to the link below,



Taux d'accès de la seconde au BAC
Année Taux brut (%) Variation
2013 95 -
2012 95 -1%
2011 96 -

http://classement-lycees.etudiant.lefigaro.fr/academie-paris/paris/paris-03/lycee-henri-iv/

 

[d08]

those islands iwth 0% income tax , you have to live in some gated community. like a prison. the rest of the country is wild west. and

Cayman Islands is wild west? You have no idea what you're talking about yet you keep going.
Plenty of places don't have 0% income tax for everyone yet do have that option for people receiving income abroad.

 

[markettimer]

I hope folks know the rule.. IRS.. if you are a US citizen and live abroad.. after 365 days or 183. days or some # you become an expat.. so u dont have to pay taxes on the first 90K of your WORLD WIDE income..

http://www.irs.gov/Individuals/Inte...oreign-Earned-Income-Exclusion---Requirements


so if u r in this boat, u dont really need to renounce your citizenship.

You can exclude earned income, but not passive income from trading. I suppose you could characterize your trading as earned income from a small business, but in that case you'd still be on the hook for Social Security (employee + employer contributions) and Medicare.

 

[laocoon]

Are there any traders living in Switzerland on ET?
Reason I'm asking is because I'd like to find out about your experience with the tax authorities.
In Switzerland, capital gains are tax free unless they're your main (sole) source of income. In this case you qualify as a professional trader and pay normal income tax on your gains. I'd be very interested to hear about a few real-life examples.

 

[zdreg]

hmmm I remember someone saying :"I would not like my kid to go to M.I.T Engineering School". Till someone asked : "could your kid get in ?" Now I understand what the question really meant.

I guess in countries like the UK, going private is a minimum for any parent who can,
But in countries like France, seriously it is about the kid capability : the problem is not about "wanting", but being able to be taken in and most importantly not being booted out.
As I am very glad not to have fallen into the traps of non-planned/wanted parenthood, in good conditions ( partner choice,... ), I do not have to deal with these issue. So that is me done here. And I am skipping this thread. Take care

"So that is me done here. And I am skipping this thread. Take care "
why limit yourself to one thread? why not all threads?

 

[jk90029]

Hey [pgo]

You should tell us which country will be that kind of tax system.

 

[bone]

Hey [pgo]

You should tell us which country will be that kind of tax system.

And where security and freedom to enjoy your life outside the confines of a security compound doesn't come at a steep price.

Look at the steep escalation in crime rates in recent years for Puerto Rico for example.

The cost to live either in the financial district of Puerto Rico or in a suburban gated community with 24 hour security isn't exactly cheap either. I was looking at some listings out of curiosity after this post originally appeared.

Many countries with spotty infrastructure and law enforcement and property rights have worrisome issues - and kidnapping wealthy foreigners and wealthy nationals is a lucrative business.

Look at how common kidnapping and corruption is in many countries. Even if you had full time bodyguard(s), they can be bribed or their own families can be kidnapped forcing them to betray you.

Lots to think about. IMHO, you would have to be making ALOT of money to offset the security costs and to compensate for the lifestyle restrictions. And from year to year, the IRS has no problems changing rules about repatriating assets and tax treatment for all kinds of situations - including US territories in terms of tax status. And 90% of the time those changes are made to generate more income into the Treasury in order to feed the beast.

I think the better bet is to relocate to a State with more friendly tax treatment on income and capital gains. Which means you will be in the South.