The Narrowing of the US Tax Base....

Quote from Angrycat:

There is only one upside to this chart. It makes it easier for the few to go "on strike" and send the government scrambling for incentives to actually work and invest (and stop immigrating out of the country!).
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The basic problem with this "Atlas Shrugged" type of idea is that achievers by nature, tend to be individualistic and not easily herded into large group activities, such as a long term strike.

Although I love the idea of pinching the pockets of these hack politicians, consider the effect the FairTax would have on their spending. A retail sales tax of 23% once put in place, would be VERY difficult to raise, considering EVERY person would be effected. It also broadens the tax base way out to include not only every citizen, but illegals and visitors as well.

Its a huge first step, but once you cap the revenue coming in from a broader source, changes to spending can then take place.
 
Quote from hofficita:

My feeling exactly. Where are you looking, and how do you plan to preserve wealth in the interim?

Thanks.
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There are a few ways. Tax free munis. Barter for goods directly (the transaction is not taxed). Start moving your capital out of the U.S. Etc.

The method will have to be specific to your circumstances and I would see an estate and tax lawyer.
 
Quote from AlpineTrout:

The basic problem with this "Atlas Shrugged" type of idea is that achievers by nature, tend to be individualistic and not easily herded into large group activities, such as a long term strike.

Although I love the idea of pinching the pockets of these hack politicians, consider the effect the FairTax would have on their spending. A retail sales tax of 23% once put in place, would be VERY difficult to raise, considering EVERY person would be effected. It also broadens the tax base way out to include not only every citizen, but illegals and visitors as well.

Its a huge first step, but once you cap the revenue coming in from a broader source, changes to spending can then take place.
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I agree with you wrt a consumption tax rather than a tax on production. One should be punished for what one takes OUT of the economy rather than what one puts into it.

Of course, it probably hasn't escaped your notice that the inescapably of the consumption tax is far lower than inflation. Inflation is a way for government to steal.

I can't agree with you completely on the Atlas Shrugged types. While it's true that they (we - I count myself among them) are difficult to herd, libertarians often come together for a common cause.

Individualists are not loners and they certainly are not opposed to collective action. They are opposed to COERCED collective action. If a group of libertarians decides that they are being persecuted, they may very well join together to leave and create a society elsewhere (or an underground economy).
 
America needs revolutionary changes in how we tax and deficit spending.

Without them, we're like "sand through the hour glass".... our days are numbered. :mad:
 
Quote from Angrycat:


Of course, it probably hasn't escaped your notice that the inescapably of the consumption tax is far lower than inflation. Inflation is a way for government to steal.
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Thanks to the Federal Reserve, which imo is also the root cause of the housing bubble.
 
Quote from Angrycat:

There are a few ways. Tax free munis. Barter for goods directly (the transaction is not taxed). Start moving your capital out of the U.S. Etc.

The method will have to be specific to your circumstances and I would see an estate and tax lawyer.
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I was more asking to where in the world you would go to escape the rapid socialist decent of America.

It is quite sad. The US used to be the place to escape to. Not many places for a young motivated entrepreneur these day

That being said, I like Singapore and Ireland (12.5% corp tax) for a friendly business environment. Any other suggestions would be appreciated.
 
Quote from Scataphagos:

America needs revolutionary changes in how we tax and deficit spending.

Without them, we're like "sand through the hour glass".... our days are numbered. :mad:
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Amen


America....as was any other super power.....is about the ability to compete in business.....now on a worldwide basis....


The sole possibility to make this happen lies within the restructuring of taxes....for many many reasons...

Is it possible for the US to undercut BRIC ?

Well now....Let's put it this way....

It can get a lot closer ....than it is now....

Having explained this earlier.....It is elementary math...

And is a yes/no question....

Far away from being vague....
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Those with the podium now have proven themselves to be a failure from countless standpoints....

One would think that when such a system goes to the extreme such that there is literally not enough money in the world to solve its problems....one should have been able to have been a wee bit more clever....
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Included in the replacement of the tax structure and the removal of legal largesse....Is the removal of illegal derivatives....

A majority of the current/existing derivatives are truly fraudulant ....because there is no representative cash market underlying....
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By the way....

THIS IS NOT A DRILL....

THE TRUTH....


FOR THE CURRENT SET OF POLITICOS TO GET IT....

WOULD BE LIKE PISSING IN THE GULF OF MEXICO AND EXPECTING THE TIDE TO RISE....

F'M ALL.....F'N MORONS.....IF THEY ARE NOT....TELL ME WHO IS ....?

WHAT IS EVEN MORE TELLING IS THAT AMERICA HAS GIVEN THE ECONOMIC REINS TO THE VERY ONES WHO CREATED THE PROBLEMS....
 
Quote from libertad:

.............................................................................................

THIS IS NOT A DRILL....

THE TRUTH....


FOR THE CURRENT SET OF POLITICOS TO GET IT....

WOULD BE LIKE PISSING IN THE GULF OF MEXICO AND EXPECTING THE TIDE TO RISE....

F'M ALL.....F'N MORONS.....IF THEY ARE NOT....TELL ME WHO IS ....?

WHAT IS EVEN MORE TELLING IS THAT AMERICA HAS GIVEN THE ECONOMIC REINS TO THE VERY ONES WHO CREATED THE PROBLEMS....
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Atta boy! Get emotional. This is more than we've seen from you. Grinding on you, is it?
 
The US has become what it is at the point of the gun, destabilizing regimes and conducting economic warfare on countries not favoring US multinationals. The US military and industrial complex is the most vile, terrorist organization ever assembled. The robber barons, the founding fathers of US capitalism had no scruples and moral code, they fought tooth an nail and if you got in their way you were dead and buried.
Only idiots on ET idolize America's Industrial history. By the way this immoral and illegal monopolistic behavior is still going on and has been going on since day one.
Quote from bigmoose:

I have come to believe that the current administration has NO idea how wealth is/was generated in this country...

Without that engine of wealth generation to pull the "redistribution train" nothing is going to "trickle down" consistently to the masses. You can divvy up the railroads coal supply, and let the masses tear up the rails... but he end result is the train will run no more.

My friends are mostly entrepreneurs who own their own business, as do I. Almost to a man they are reducing employment, withholding capital improvements and holding cash reserves. One is talking of proactively suspending operations...
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Quote from hofficita:

I was more asking to where in the world you would go to escape the rapid socialist decent of America.

It is quite sad. The US used to be the place to escape to. Not many places for a young motivated entrepreneur these day
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Don't give up yet. Try to change things for the better first.

In the mean time, if needed, look for a low cost of living area. That'll do more to help your bottom line than most other ideas. Maybe pick a state with no income tax.
 
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