4 ms·

Why not just have one extremely low tax regime? They can still keep their cash where they like, but without the effort of evading taxation. Also, why do they ne

by markkat 15y ago

Why not just have one extremely low tax regime? They can still keep their cash where they like, but without the effort of evading taxation. Also, why do they need to live at this place? If they had visa treaties, this citizenship could be essentially digital. Or, if there was a locale, you could just have an address there.

ristretto 15y ago
What makes you think that "keeping their cash there" is beneficial to any society? I am obviously getting political here, but money for its own sake should not be a goal. Money should be invested or taxed.
- markkat 15y ago
  >Money should be invested or taxed. Agreed. But there is what should be done, and what is done. I don't think this is anyway admirable, or of any benefit to society, (it's basically taking wealth harvested within a system out of that system) but I do see that it might be a possible solution for a perceived problem that exists for very wealthy individuals.
  - bd_at_rivenhill 15y ago
    You're ignoring one particularly American problem, which is that Americans who harvest wealth outside the system of their country of citizenship are still required to pay taxes to it. I suspect that these sort of proposals would probably go away if rich Americans who moved to Hong Kong or Singapore were not expected to continue paying into Uncle Sam's coffers.
- dualogy 15y ago
  Why should I make any at all if at the end of a long productive life you jump out from a corner and says how these fruits should be deployed? For kicks? I might, and many more able than me do -- but there's a breaking point for everyone. And I found that the tax-man much more resembles that old cliche about the "greedy", the "rich", the capitalists -- it's the taxman that truly can never get enough, never tax enough, never borrow enough, just to keep their own fairytale reality going another day or decade.

by markkat 15y ago

ristretto 15y ago

What makes you think that "keeping their cash there" is beneficial to any society? I am obviously getting political here, but money for its own sake should not be a goal. Money should be invested or taxed.

markkat 15y ago
>Money should be invested or taxed. Agreed. But there is what should be done, and what is done. I don't think this is anyway admirable, or of any benefit to society, (it's basically taking wealth harvested within a system out of that system) but I do see that it might be a possible solution for a perceived problem that exists for very wealthy individuals.
- bd_at_rivenhill 15y ago
  You're ignoring one particularly American problem, which is that Americans who harvest wealth outside the system of their country of citizenship are still required to pay taxes to it. I suspect that these sort of proposals would probably go away if rich Americans who moved to Hong Kong or Singapore were not expected to continue paying into Uncle Sam's coffers.
dualogy 15y ago
Why should I make any at all if at the end of a long productive life you jump out from a corner and says how these fruits should be deployed? For kicks? I might, and many more able than me do -- but there's a breaking point for everyone. And I found that the tax-man much more resembles that old cliche about the "greedy", the "rich", the capitalists -- it's the taxman that truly can never get enough, never tax enough, never borrow enough, just to keep their own fairytale reality going another day or decade.