Re: the future long term financial apocalypse of the USA

On Sun, 26 May 2024, Scott Dorsey wrote:

D  <nospam@example.net> wrote:

In terms of the US, I think the most common thing for the rich is to
incorporate themselves, and that way they avoid the IRS. I imagine that
plenty of US billionaires could also move to the caribbean for inheritance
purposes as well, for a few years, and then return home.

>
This works, but it's better to have multiple small corporations owning your
assets rather than one big one.
>
And yes, we do have plenty of rich Americans who have taken foreign
citizenship (Aruba is very popular and pleasant to visit as well, but
some prefer Panama) in order to avoid taxes.  I am not really sure how
I feel about this.  On one hand it seems an honest solution and on another
it seems not to be.
--scott
>

I don't want to wake the bear that sleeps, but this raises interesting questions around fairness. Personally I feel little sympathy with politicians complaining about rich people paying too little taxes (obviously) since they have the power to increase the taxes should they so want.
I find it an honest method to vote with your feet, and I have moved away from Sweden due to too high taxes and have benefited handsomely from it.
Thanks do our "friend" Putin, sadly they are discussing tax hikes where I live, but money is a liquid asset and there are many other countries to move to, so perhaps it will be time to move again in a year or two. =)