“betray the countries that enabled their success.”
Thats slave owner talk, but even the elites running Canada think they have the right to “enable” or “disable” its citizens lives.
Pomperipossa goes to Belgium. Imagine running to BELGIUM for a lower tax rate. For those of us who are planning to not file FBARs and 8938’s—to what countries could one flee with one’s bank piggy bank and checking accounts—who are likely to not report as QFIs, could not be penalized by 30% withholding, and could afford not to honor tax judgements? China, Cuba, North Korea, Iran. can’t think of more. Any rooms left at the Ecuador hotel?
We’re in the first innings of the new international bloodsport known as Eat The Rich (official title, although a less official title might be something like, Eat Whomever You Can Pin The Tail Of The Donkey To).
The slaveowner talk is just going to get louder. Save yourselves and whatever you have while you still can, even if you’re not an expat. Someday you will no longer be able to.
@Mark Twain
Belgium has very high income tax rates, yes, but many rich French expats seem to be moving here nowadays. Besides our income tax rate Belgium is, in general, very tax friendly to these sorts of people for a couple of reasons, especially because we have no capital gains taxes and no wealth tax like the French have. If you are making over a million Euros though our tax rates still pale in comparison to Hollande’s 75% proposal even if you are talking about the income tax rate alone.
The French singer Johnny Hallyday caused a similar storm in the French press a few years back when he filed an application to become Belgian as well. What I don’t understand is why there is always so much fuss in the French press when French expats try to become Belgian as opposed to British or Swiss citizens or tax exiles, of which I think there must be many more than in Belgium. London has something like 400,000 French citizens alone! We only have 10 million people in all of Belgium..
Mr. Pomodoro. I hope you don’t let my sarcasm dig in too hard. I pay 49% – 52% marginal in my chosen workplace and home, respectively, along with self employment social taxes of 14%, 34%. (Unlike Tim Geitner, I have always known that I need to pay self employment social costs wherever I live.) I do similar, choosing to work in Norway due to higher salaries and lower taxation.
Astrid Lindgren singlehandedly brought down the social democrats and created a Swedish tax revolution, that landed with lower business tax than USA and personal tax that is, uh, well, not as bad as the 102% it was previously.
I am still looking to find a country where I can go to be rid of FATCA.
“One of the issues I have been preaching about around the world is
collecting taxes in an equitable manner, especially from elites around
the world,” Clinton said. “It is a fact that around the world the elites
of every country are making money.
“There are rich people everywhere, and yet they do not contribute to their growth of their own countries.”…
“They don’t invest in public schools and public hospitals and other kinds of development internally,”
*ConfederateH, my first reaction to this was that it does not apply to me since I’m not “rich”, in my view. However, I’ve never paid any taxes to the US while living outside of the US, and the “rich” term is relative. As such, she probably meant “Americans abroad” but wrote “rich” since such has a more attractive ring to many in the States. It is interesting how she accuses Americans abroad of not financing public schools or hospitals, even though they all do so. Yet, Hillary has always had a horrible foreign policy which isn’t getting any better even though most Americans abroad will likely vote for her party.
@Swisspinoy: Actually if you listen to all her comments about “tax cheats” they were far more inflamatory, listen to this Peter Schiff Podcast.
IMO most IBS readers fall into the same trap that you do. Petros thinks that because he is part Korean that he cannot be a victim of racism by the Democratic party. You think that because you are minnow you cannot be a victim of a Democratic party tax jihad against “rich” teaparty types. Most expats would not accept that the Democrat party feminists running vast swaths of the government might lump them together with “dead-beat” dads. Most Canadians reading IBS cannot accept that the progressivism/liberalism they so stridently support is the cause of their FATCA despair. Most expats think that this illegal income tax jihad is okay if it leaves the minnows alone and only goes after the big fish.
*ConfederateH, the link to the podcast doesn’t work. It might be encrypted for the session. Do you have another link?
@ConfederateH I never said that I could never be a victim of racism. Look, I believe that Asians in North America are regularly victims of racism, starting with the requirement that Asians and Jews have to be smarter than whites because the quota system allows fewer people from over-achieving groups to get into universities. The “women and minorities are encouraged to apply” notices in academia are never meant for Asians. Also, I believe that we need to protect the whales more than anyone else in this battle. The last thing I want is for Geithner to get his grubby hands on the money of Canadian billionaires and millionaires just because they have some nominal or redefined relationship with the United States.
A wealthy Canadian resident who has put his money in a Canadian financial instution has committed no crime, and all Canadian residents need to reject FBAR, FATCA, and extra territorial taxation. It is a travesty of justice. I don’t care if you are a billionaire or only a thousandaire.
Economic Patriotism. Global elite. These are code words for eliminating the foreign tax credit and exclusion. Pray that the House of Reps maintains its majority now and in 2014
@Petros: When I made very strong cases for racism being one reason why expats are being “persecuted” (as geeez said) your response was that you were part Korean and that therefore you were not a racist.
@ConfederateH, I said that my reason for leaving the US wasn’t “white flight”.
I don’t believe that the narrative that Obama administration is persecuting expats because they are white is compelling. A better case can be made for class warfare based on the Marxist belief that the wealthy should pay their fair share. Obama is an avowed redistributionist.
White flight was only one of my later arguments. Previously you tried to nix my argument by stating that as an asian american you weren’t racist. I don’t have access to any search possibilities at IBS, but I am pretty sure that is what you wrote.
“Obama is an avowed redistributionist.”
And a serial racist who has come to power largely based on race politics. Every lie he tells, every policy he proposes drips with leftist racism. You seem to think that for some special reason his tax jihad against expats is devoid of this ever present racist spinning. You won’t even accept my contention that by punishing expat white flight he plays to his rock solid black voter base.
“betray the countries that enabled their success.”
Thats slave owner talk, but even the elites running Canada think they have the right to “enable” or “disable” its citizens lives.
Pomperipossa goes to Belgium. Imagine running to BELGIUM for a lower tax rate.
For those of us who are planning to not file FBARs and 8938’s—to what countries could one flee with one’s bank piggy bank and checking accounts—who are likely to not report as QFIs, could not be penalized by 30% withholding, and could afford not to honor tax judgements?
China, Cuba, North Korea, Iran. can’t think of more. Any rooms left at the Ecuador hotel?
Soon to be reduced by about 3%?
http://www.680news.com/news/national/article/405130–majority-of-canadians-a-happy-bunch-survey
We’re in the first innings of the new international bloodsport known as Eat The Rich (official title, although a less official title might be something like, Eat Whomever You Can Pin The Tail Of The Donkey To).
The slaveowner talk is just going to get louder. Save yourselves and whatever you have while you still can, even if you’re not an expat. Someday you will no longer be able to.
@Mark Twain
Belgium has very high income tax rates, yes, but many rich French expats seem to be moving here nowadays. Besides our income tax rate Belgium is, in general, very tax friendly to these sorts of people for a couple of reasons, especially because we have no capital gains taxes and no wealth tax like the French have. If you are making over a million Euros though our tax rates still pale in comparison to Hollande’s 75% proposal even if you are talking about the income tax rate alone.
The French singer Johnny Hallyday caused a similar storm in the French press a few years back when he filed an application to become Belgian as well. What I don’t understand is why there is always so much fuss in the French press when French expats try to become Belgian as opposed to British or Swiss citizens or tax exiles, of which I think there must be many more than in Belgium. London has something like 400,000 French citizens alone! We only have 10 million people in all of Belgium..
Mr. Pomodoro. I hope you don’t let my sarcasm dig in too hard. I pay 49% – 52% marginal in my chosen workplace and home, respectively, along with self employment social taxes of 14%, 34%. (Unlike Tim Geitner, I have always known that I need to pay self employment social costs wherever I live.) I do similar, choosing to work in Norway due to higher salaries and lower taxation.
Astrid Lindgren singlehandedly brought down the social democrats and created a Swedish tax revolution, that landed with lower business tax than USA and personal tax that is, uh, well, not as bad as the 102% it was previously.
I am still looking to find a country where I can go to be rid of FATCA.
*Here is an interesting article on the topic:
“economic patriotism”
Barack Obama, September 2012.
Going down, in history.
Talk about betrayal, look what this marxist has to say:
Clinton calls on elites to pay more tax
*ConfederateH, my first reaction to this was that it does not apply to me since I’m not “rich”, in my view. However, I’ve never paid any taxes to the US while living outside of the US, and the “rich” term is relative. As such, she probably meant “Americans abroad” but wrote “rich” since such has a more attractive ring to many in the States. It is interesting how she accuses Americans abroad of not financing public schools or hospitals, even though they all do so. Yet, Hillary has always had a horrible foreign policy which isn’t getting any better even though most Americans abroad will likely vote for her party.
@Swisspinoy: Actually if you listen to all her comments about “tax cheats” they were far more inflamatory, listen to this Peter Schiff Podcast.
IMO most IBS readers fall into the same trap that you do. Petros thinks that because he is part Korean that he cannot be a victim of racism by the Democratic party. You think that because you are minnow you cannot be a victim of a Democratic party tax jihad against “rich” teaparty types. Most expats would not accept that the Democrat party feminists running vast swaths of the government might lump them together with “dead-beat” dads. Most Canadians reading IBS cannot accept that the progressivism/liberalism they so stridently support is the cause of their FATCA despair. Most expats think that this illegal income tax jihad is okay if it leaves the minnows alone and only goes after the big fish.
*ConfederateH, the link to the podcast doesn’t work. It might be encrypted for the session. Do you have another link?
@ConfederateH I never said that I could never be a victim of racism. Look, I believe that Asians in North America are regularly victims of racism, starting with the requirement that Asians and Jews have to be smarter than whites because the quota system allows fewer people from over-achieving groups to get into universities. The “women and minorities are encouraged to apply” notices in academia are never meant for Asians. Also, I believe that we need to protect the whales more than anyone else in this battle. The last thing I want is for Geithner to get his grubby hands on the money of Canadian billionaires and millionaires just because they have some nominal or redefined relationship with the United States.
A wealthy Canadian resident who has put his money in a Canadian financial instution has committed no crime, and all Canadian residents need to reject FBAR, FATCA, and extra territorial taxation. It is a travesty of justice. I don’t care if you are a billionaire or only a thousandaire.
Economic Patriotism. Global elite. These are code words for eliminating the foreign tax credit and exclusion. Pray that the House of Reps maintains its majority now and in 2014
@Swisspinoy: Listen to his Sept 27 podcast at http://schiffradio.com/
@Petros: When I made very strong cases for racism being one reason why expats are being “persecuted” (as geeez said) your response was that you were part Korean and that therefore you were not a racist.
@ConfederateH, I said that my reason for leaving the US wasn’t “white flight”.
I don’t believe that the narrative that Obama administration is persecuting expats because they are white is compelling. A better case can be made for class warfare based on the Marxist belief that the wealthy should pay their fair share. Obama is an avowed redistributionist.
White flight was only one of my later arguments. Previously you tried to nix my argument by stating that as an asian american you weren’t racist. I don’t have access to any search possibilities at IBS, but I am pretty sure that is what you wrote.
“Obama is an avowed redistributionist.”
And a serial racist who has come to power largely based on race politics. Every lie he tells, every policy he proposes drips with leftist racism. You seem to think that for some special reason his tax jihad against expats is devoid of this ever present racist spinning. You won’t even accept my contention that by punishing expat white flight he plays to his rock solid black voter base.
OBAMA HAS MY VOTE, HE GAVE ME A FREE PHONE…