Wealthy are leaving New York
- Thread starter wilburbear
- Start date
Wrong.
I'm sure this must be news to you but the DoD budget for 2010 proposed by President Obama is for $663.8 BILLION, with $533.8 BILLION in discretionary budget authority to fund base defense programs.
This is an INCREASE BY 4% over 2009, or 2.1% real growth after adjusting for inflation.
You really don't have any command of the facts, do you?
Typical idiots on ET.
MIDAS....best post of this thread.....live in florida at least 6 months + one day per year and let someone else pay for all the corruption and waste of taxpayer money in NYC!!!!!!!!!....important..............DOCUMENT EVERY DAY OF YOUR PRESCENSE INFLORIDA....DESPARATE NYC WILL PROBABLY CHALLENGE WHATEWVER THEY CAN............LOWLIFES!!!
What specific advantage does america have for rich people, specially those worth between $5M and $30M? What do they get in america that they can't get in most other countries of the world?
Yet I can name the many disadvantages of being worth over $5M and under $30M and living in america, the first and main one; you have no advantage over the average person, you are just another worthless person but with more money, another con; you are a wonderful target for the IRS, your privacy and respect is constantly invaded by the FBI/NSA and DHS/TSA agents, third disadvantage, running a profitable business with a decent return is a pain in the a** in america, because big corporations operate on high revenue but a small percentage of profit, which makes it almost impossible to compete with them.
Yet I can name the many disadvantages of being worth over $5M and under $30M and living in america, the first and main one; you have no advantage over the average person, you are just another worthless person but with more money, another con; you are a wonderful target for the IRS, your privacy and respect is constantly invaded by the FBI/NSA and DHS/TSA agents, third disadvantage, running a profitable business with a decent return is a pain in the a** in america, because big corporations operate on high revenue but a small percentage of profit, which makes it almost impossible to compete with them.
Don't taxes pay for stuff? I thought taxes were a good thing? If Donald and Limbaugh don't want to pay taxes, then they should be banned from driving on public roads, removed from police/military protection, and have to home school their kids.
So here's the question I have yet to hear a very good answer for:
Where do you go? I mean suppose someone were actually open to the idea of heading to another country, anyone who makes good money thinks about these things every so often, seriously what country do you head to?
Real country mind you, not some 3rd world place. Where do you go where you pay little in taxes, have all the comforts of the US or UK like running water and healthcare, and do not have to worry about your kids being kidnapped or you being a target for your wealth? Where does the big money flee to?
Also, question for Brendan R - When people leave the UK and become citizens of another country do they still have to pay UK taxes for some period of time? Such as how if they leave the US they have to still pay US taxes for the next 10 years.
moving countries is a difficult one. It depends what stage you are in your life. If you have a family, you want to go somewhere with low criminality, drug addiction,vice... and good education.
If you don't have a family, a bit vice may not harm.
How course the family reduces your universe of possibles to a few selected places.
Also you need to take into account being far from your elders and friends.
Then, it also depends on your income generation. Are you retired, do you trade for a living,...
All these constraints can dramatically reduce the number of places you can choose from.
What you will not find is a place that is cheap, fun, safe, with good weather and with low taxes.
If I didn't have a family, I would jumping from place to place.
The winter in Asia, the summer in Europe, spending less than 180 days in any country (or less depending on taxation rules) with a permanent residency in a place that doesn't tax offshore revenues, like HK.
With a family, you cannot move around because of school so you need a place that does not tax offshore revenues. There are a few but they may not meet the other criterias you're looking for.
Regarding moving with your guns, you could try more exotic places knowing that places you can carry guns will also tend to be places not deemed safe.
As for leaving the UK and taxation after, well, you just leave and don't come back permanently for 5 years and make sure you don't spend more than 90 days per year in those following 5 years and you'll be ok.
Whatever you earn onshore maybe subject to local taxation. For instance, if you own a house and rent it, you should declare those revenues and pay taxes on them. When you leave, the best thing is to liquidate everything and make sure your position is right, by this I mean pay whatever you own the place and leave a clean slate behind so that you can come back if you want.