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Some can. What would the percentage be, though? 5%?
Permanent move to Poland, then? Good on you, if that's what you want, but it's a bit weird to try and escape "socialism" by moving to a country with government-funded schooling, universal healthcare etc.
hmmm..
However , you can rent a 2 bedroom flat in the middle of warsaw for 700 dollars a month... What does that cost you in the middle of New York or LA ?
You get 4x the money out there for a dollar. The top tax rate is 33% there. Its 37% here.
Well, the US is basically socialistic in its current state. However in Poland , you would get free health care, kids can go to any college for free, and property is fairly cheap.
Its quite affordable, especially on a fixed income. I pay the highest tax rate at the moment. Get 0 health benefits, 0 college for my kids, and property taxes are through the roof? I got nothing for the tax I pay. My health insurance is 1200 monthly for complete garbage.
Poland is completely more affordable. Plus my wife it Lithuanian and her family would be 3 hours north.
I'm a dual US-Cdn citizen, but I hope to soon also get my British passport via ancestry, as both my parents grew up there. I think more and more about retiring in the UK (or Europe), which I never would have even considered when I was younger.
Was it a difficult process?
Not difficult at all, just time consuming and you need to be meticulous with the document requirements.
I had to get birth certificates, death certificates, marriage certificates from 2 countries (US states and Ireland) to their specific requirements...long form vs short form and they all had to have raised seals.
Always baffles me when I hear conservatives in the US complain about liberals in one breath but then talk about moving to Canada, Europe, Australia in another.
The US is basically a socialist state at this point. Look at all the handouts and welfare.
What do you get in return? You get NOTHING.
At least in the places you mentioned. You receive a benefit and pay less in taxes. I know this for Poland.
I think what would push me to seriously consider it is a wealth tax.
I'm following this to see where it's going.
CA and WA are both pushing for a state wealth tax.
Warren is still pushing it in Congress.
It may turn out to be nothing but I will follow it as long as it has some teeth.
A number of years ago Congress held hearings on 401K accounts.
The push was that Americans didn't know how to save for retirement and if the government took over 401K accounts they could manage it better.
You bet I followed that one closely. That would be near $7 trillion that Congress would get their hands on.
And I was fully prepared to liquidate and put all that money into First National Bank of the Mattress.
I think what would push me to seriously consider it is a wealth tax.
I'm following this to see where it's going.
CA and WA are both pushing for a state wealth tax.
You know Sanders and Warren are pushing for a 3% tax on billionaires right?
The California proposal is for 1% on a net worth over 50 million, 1.5% over a billion.
The Washington state proposal is 1% on billionaires, with first billion exempt.
If these really are things that could affect your life then color me impressed.
You know Sanders and Warren are pushing for a 3% tax on billionaires right?
The California proposal is for 1% on a net worth over 50 million, 1.5% over a billion.
The Washington state proposal is 1% on billionaires, with first billion exempt.
If these really are things that could affect your life then color me impressed.
Do you remember AMT....you know that tax on the rich ?
Well over the years AMT hit lower and lower incomes.
I got hit with AMT a few times and I am nowhere near a millionaire.
As they say....fool me once shame on you. Fool me twice shame on me.
I will not be fooled twice.
In 2010 AMT hit middle class people making $75K a year. https://www.kiplinger.com/article/ta...e-minimum.html
In 1987, one year after the last major overhaul of the alternative minimum tax system, only one tenth of one percent of all returns had to pay the alternative minimum tax.
Today, the alternative minimum tax is no longer just for high-income individuals. Now, many middle-income Americans are paying the alternative minimum tax or having their tax credits limited by its hidden effects.
The Treasury Department expects that more and more people will be paying the AMT over the next few years.
After this failed administration is finished destroying America, I believe taxes will be through the roof. The US will be slid off a ledge into full blown socialism and there's no turning back.
They are canceling student debt for deadbeats that signed the line but are financially irresponsible. Who do you think will pay for this ?
Apparently, all the locations around the world to Renounce citizenship are booked full.
It's mainly the wealthy that are renouncing and moving overseas, since there are better countries with lower taxes than the U.S. in today's world. Also, many of these folks can simply tele-work, so there's nothing tying them down to the U.S. anymore.
The wealthy pay for over 75% of all income tax revenue collected by the government, so everyone should be concerned with more wealthy fleeing the U.S. -- the wealthy are basically the main tax base in America.
When most of the wealthy have fled the U.S., the democrats will start raising taxes on the middle class. We'll be like high tax Europe, but without all the amenities and benefits.
Problem with your assessment is that you apply to renounce your US Citizenship, there are several criteria you need prior to it being accepted, including having alternate citizenship. Even then, it can be refused if the USSD determine the purpose of renunciation is to avoid paying US taxes.
I dont hate this country(or democracy), but this country has steered far off course and is declining. The sooner you realize it , the better. Were on our way out being #1 and theres nothing you can do to stop it
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