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Guest Post: How to Prove Benjamin Franklin Wrong About Taxes

Tyler Durden's picture





 

Submitted by International Man via Casey Research,

"In this world nothing can be said to be certain, except death and taxes.”

– Benjamin Franklin

In most cases, Mr. Franklin's statement would be correct. However, as you will see below, there are some countries in the world where you can be certain you won't pay taxes.

With the year 2013 marking the 100th anniversary of the income tax and the Federal Reserve in the US (two of the most powerful tools the government uses to extract wealth), I thought it would be useful to look at when Tax Freedom Day occurs across the world to gain some perspective.

Tax Freedom Day (TFD) is the day of the year that the average person has in theory earned enough money to pay his or her annual tax bill.

If TFD falls on January 1, that means you are a milk cow for ZERO days out of the year for the government. If it falls on June 30, it means you are working 181 days each year to pay off your taxes.

Unfortunately, most of us will spend some time during the year acting as a milk cow in some fashion for a government.

Below is a table showing when TFD hits in the countries within the EU.

The government of Hungary, Belgium, and France are the worst offenders in the EU, keeping their citizens in tax servitude astoundingly until around August each year.

If you are unlucky enough to be in the suffocating grasp of a high-tax jurisdiction, you will likely have only a couple of months of salary (if even that) out of the year that can be potentially utilized as savings after essential living expenses are met.

In the US, TFD comes around April 17. Of course, individual circumstances will vary, and TFD in the US can come a lot later than April 17 for many Americans.

Whether you are American, European, or any other nationality, it doesn't have to be this way. You do not need to be working for the government for a good portion of the year.

It is possible to take steps to internationalize and legally reduce the number of days the government milks you of the fruits of your labor.

Some countries do not have an income tax or essentially any other type of tax that could hit the average individual.

TFD could come on January 1 for you if you have no external obligations and fall under the jurisdiction in any of the countries in the table below.

Countries With No Personal Income Tax
Andorra
Anguilla
Bahamas
Bahrain
Bermuda
British Virgin Islands
Brunei Darussalam
Cayman Islands
Kuwait
Maldives
Monaco
Oman
Qatar
Saudi Arabia
St. Kitts & Nevis
Turks and Caicos
United Arab Emirates
Vanuatu

There are many ways to internationalize and legally structure yourself and your business around these and other low-tax countries.

One possibility could involve an American citizen obtaining a second citizenship, then becoming a resident of one of the countries above, and finally renouncing US citizenship in order to obtain a tax-free existence. Of course, this is but one possibility. There are many options with varying degrees of protection.

You could prove Benjamin Franklin wrong – taxes are not necessarily a certainty.

It is still legal and practical to take steps to internationalize, but if history is any guide, it won't be so forever... especially as governments (particularly in the West) become more desperate.

 


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Mon, 04/15/2013 - 23:03 | Link to Comment otto skorzeny
otto skorzeny's picture

if you add in ALL of the taxes we(the non-47%) in the US pay I'm guessing TFD is about the middle of Aug- or 60% into the year. that is including property tax, sales taxes, utility taxes, taxes on gas, toll road tolls, ad nauseum.

Mon, 04/15/2013 - 23:31 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

Tax Freedom Day is never....We are still paying hidden taxes on December 31th.

Bosten Tea Party II is overdue.

Tue, 04/16/2013 - 03:58 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Tax Freedom Day is never....We are still paying hidden taxes on December 31th.

Tax Freedom Day actually isn't the same day every year. April 15th is chosen as a convenient representation. If your frame of reference begins on January 1st with a zero balance, your Tax Freedom Day would fall on April 15th.....of the following year.

Tue, 04/16/2013 - 05:57 | Link to Comment negative rates
negative rates's picture

You perhaps may, around here we end the old year square with every man. Reducing hidden taxes.

Tue, 04/16/2013 - 09:05 | Link to Comment Dr. No
Dr. No's picture

April 15th was chosen since it is as far away from election day as possible.  If tax day was the first Monday of November, there would be no such thing as an incument.

Tue, 04/16/2013 - 00:01 | Link to Comment toys for tits
toys for tits's picture

 

if you add in ALL of the taxes we(the non-47%) in the US pay I'm guessing TFD is about the middle of Aug- or 60% into the year. that is including property tax, sales taxes, utility taxes, taxes on gas, toll road tolls, ad nauseum.

We have to stop the class warfare as it supports those that want to divide and conquer. They are then able to continually adminster the "boot to the head".

Everyone, which especially includes the poor, pay embedded taxes on all items purchased.  Fair Tax advocates estimate this to be 20% on average, which is added to the taxes that you mentioned.  This embedded cost is an effective tax of 25% on average.

Take for example a person that makes $1,000 a month, who lives paycheck to paycheck. The actual money that their employee sets aside for their wage is ~$1,075 because of the employer match for FICA.

$1,075 - $150 (Total FICA) = $925 - 25% (embedded taxes)  = $693.75 remaining per month. $1,075 - $693.75 = $381.25 paid in taxes = ~35% tax rate.  

Adding in the taxes you listed would easily make the working poor pay +40% in taxes, without paying any federal income taxes directly.

TPTB obfuscate the tax rules so that this class warfare continues 'since you don't pay the taxes that I do'.

 

 

Tue, 04/16/2013 - 07:41 | Link to Comment lolman
lolman's picture

The 47 % percent does not mind using class war against us

Tue, 04/16/2013 - 08:57 | Link to Comment TWSceptic
TWSceptic's picture

--

Mon, 04/15/2013 - 23:04 | Link to Comment toys for tits
toys for tits's picture

Ok smarty-pants, what about the death part?

Mon, 04/15/2013 - 23:27 | Link to Comment Diogenes
Diogenes's picture

At least death doesn't get worse every year.

Tue, 04/16/2013 - 01:16 | Link to Comment Parrotile
Parrotile's picture

Death per se does not get worse annually, but the means to deliver it does.

Along with the very well paid for "employment" of some very smart people whose "job" is to develop increasingly unpleasant means of "death delivery", ostensibly as a deterrent, but the Global reality is somewhat different, isn't it.

Tue, 04/16/2013 - 09:08 | Link to Comment Diogenes
Diogenes's picture

As medical science and living conditions improved since Franklin's day, lifespans have increased, infant mortality and premature deaths due to disease and accident have decreased. So one could argue that death is less of a threat now. Most people have not suffered a near death experience from disease as he did when young, or lost a child to disease. Both were common before 1900.

Mon, 04/15/2013 - 23:40 | Link to Comment zorba THE GREEK
zorba THE GREEK's picture

My accountant is 69 years old and a conservative type. He just told me that back in February he bought an AR-15.

The last time he fired a weapon was back in the early 60s. There is something going on that is causing this kind of

behavior in ordinarily rational people. The aroma of revolution is in the air.

Tue, 04/16/2013 - 05:33 | Link to Comment Gavrikon
Gavrikon's picture

This guy sounds rational to me.  He sees the situation and rightly judges that we are in deep shit.

Tue, 04/16/2013 - 06:40 | Link to Comment Mazeman
Mazeman's picture

Owning an AR-15 is very rational.

Tue, 04/16/2013 - 08:57 | Link to Comment NeedtoSecede
NeedtoSecede's picture

I gave you all greenies today.  There is something in the air...

Tue, 04/16/2013 - 13:10 | Link to Comment Forty Six and 2
Forty Six and 2's picture

and responsible

and patriotic

Mon, 04/15/2013 - 23:07 | Link to Comment Anusocracy
Anusocracy's picture

A better metric is cost of government day.

http://www.costofgovernment.org/announcing-release-2012-cost-government-...

Every year, the Americans for Tax Reform Foundation and the Cost of Government Center calculate the Cost of Government Day. This is the day on which the average American has earned enough gross income to pay off his or her share of the spending and regulatory burdens imposed by government at the federal, state, and local levels.

In 2012, Cost of Government Day falls on July 15.  Working people must toil 197 days out of the year just to meet all costs imposed by government.  2012 marks the fourth consecutive year COGD has fallen in July.   From a different perspective, the cost of government makes up 54.0 percent of annual gross domestic product (GDP).
Tue, 04/16/2013 - 00:03 | Link to Comment flacon
flacon's picture

GDP.... No there's an Orwellian term. GDP = Government Spending = Debt by Fiat.

 

So another way to express GDP is DEBT. That is a four letter word beginning wtih F and ending in UCK!

Mon, 04/15/2013 - 23:07 | Link to Comment nmewn
nmewn's picture

Let me just say, I'm shocked...shocked I say!...that Tax Freedom Day comes so late in the year...in Europe ;-)

Mon, 04/15/2013 - 23:14 | Link to Comment FIAT
FIAT's picture

Effective tax rate for the slow boiling frogs is already north of 65% if the frog believes he "owns" property

Tue, 04/16/2013 - 00:37 | Link to Comment Boris Alatovkrap
Boris Alatovkrap's picture

Fortunately, boiled frog is cannot complain.

Tue, 04/16/2013 - 03:58 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Fortunately, boiled frog is cannot complain.

Not after it croaks.

Mon, 04/15/2013 - 23:12 | Link to Comment wee-weed up
wee-weed up's picture

1913...

A year that will live in infamy!

Mon, 04/15/2013 - 23:48 | Link to Comment ghengis86
ghengis86's picture

2013...

A year that will live in insanity!

Mon, 04/15/2013 - 23:21 | Link to Comment Yen Cross
Yen Cross's picture

 Island Nations tend to have higher (PPI's)?

Mon, 04/15/2013 - 23:25 | Link to Comment Manipuflation
Manipuflation's picture

Well, I guess I took a beating on G n A today after the AUAG beatdown?  No?  LOL

Mon, 04/15/2013 - 23:26 | Link to Comment Jim in MN
Jim in MN's picture

So this means that GE, JPM and the global elite bastards who have delegitimized and sodomized our Republic can take their negative tax rates, travel back in time, and fuck their own mothers.  Grandmothers even.

Makes sense to me.

Tue, 04/16/2013 - 00:04 | Link to Comment Manipuflation
Manipuflation's picture

No, it just means that MN consisently elects full retards in certain CDs and sends them to CONgress on the Fed level.  I have been after their arses for years and years now.

My best verbal dissertation was to MN Gov hopeful Tom Emmer in 2010, when, after his speech was done, I was able to directly ask him about the concept of "de-legislation".  He asked what I meant and I quizzed him how many laws are already on the books and asked why he was proposing adding more of them.  How many fucking blue laws does MN already have? Can't buy beer on Jebus day either here.  (unless 3.2 and an establishment)  I am not sure he ever recovered from that question.  OK, why can't we buy a car in MN on Sunday?  The reason why is? 

That is quite the economic stimulus incentive when you can't buy things on certain days of the week because then you would be in violation of the 1800 and what the fuck ever year it was law.  Hudson, WI draws Sunday business.

Your capacity suggests that you have met some our finest professional bullshit club members in MN as well so I will yield my time.

Tue, 04/16/2013 - 10:29 | Link to Comment Jim in MN
Jim in MN's picture

It's....complicated.   But I will remind folks that not only did Ron Paul take the entire MN slate in the primary, but Michele Bachmann herself was only given a seat at the last second when the Paul forces took pity upon her.  Grassroots warfare at its finest.

And, we have the highest voter turnout.  So at least folks are still trying.

Other than that, fire away.

Mon, 04/15/2013 - 23:26 | Link to Comment Anusocracy
Anusocracy's picture

Another quote that needs to visit the trash bin is from a fat, evil, British twit: "Indeed, it has been said that democracy is the worst form of government except all those other forms that have been tried from time to time."

Democracy is the worst form of government as are all other forms of government.

 

 

Mon, 04/15/2013 - 23:44 | Link to Comment Dr. Engali
Dr. Engali's picture

WTF do we need taxes for when we have the Bernank and his magical digital printing press?

Mon, 04/15/2013 - 23:48 | Link to Comment CheapBastard
CheapBastard's picture

"I'm not sure what would be worse," he added, "millions of elderly unable to house and feed themselves ... or the intergenerational strife that surely would erupt if young people are forced to lower their standard of living to pay for our failure to act in a timely manner to avert this crisis."

 

"Our own research at Fidelity shows that nearly 4 in 10 retiree households do not have sufficient income to cover their monthly expenses," O'Hanley said. "Well over half of all Americans have less than $25,000 in total savings, not counting the value of their primary residence or pension plans. And 28 percent have put aside less than $1,000."

 

http://news.yahoo.com/retirement-crisis-looming-catastrophe-boomers-1804...

 

I'm sure this stock market plunge will give these retirees a real kick in the Butt on top of years getting 0.01% interest on their savings. Moar Green Shutz.

Tue, 04/16/2013 - 00:07 | Link to Comment Yen Cross
Yen Cross's picture

  Get some rest BitcheZ. BTFD will be in full force when N.Y. opens.

Tue, 04/16/2013 - 00:11 | Link to Comment FIAT
FIAT's picture

Does this gvt understand how much it is openly hated, reviled, and discredited?

Everyone hates them and assumes everything to be a lie.

Will they start a civil war that they will in NO WAY be able to "win" without foreign troops?

Tue, 04/16/2013 - 07:17 | Link to Comment General Decline
General Decline's picture

Yes, yes & yes.

Tue, 04/16/2013 - 00:20 | Link to Comment Yen Cross
Yen Cross's picture

  My powder is dry for the 'Cable' trade in 4 hours.

 

Tue, 04/16/2013 - 00:35 | Link to Comment QQQBall
QQQBall's picture

Tax Freedom Day... January 1st for appx 1/2 the nation

Tue, 04/16/2013 - 03:21 | Link to Comment toys for tits
toys for tits's picture

Way to perpetuate the divide-and-conquer class warfare meme, you tool.

Tue, 04/16/2013 - 06:31 | Link to Comment shovelhead
shovelhead's picture

Yeah,

The Free Shit Army got your back...

Good luck with that.

Tue, 04/16/2013 - 00:39 | Link to Comment Neo1
Neo1's picture

Convincing Congress to Abolish the Fed http://www.silverbearcafe.com/private/convincing.html Use federal reserve notes and incur an Irrecusable obligation. The puzzle is complete!!! A Banksters defeatism (realization of defeat) nightmare, Being forced to Return to Real Money=United States Note=Lawful Money, Use the Remedy within the Federal Reserve Act. Redeemed 12USC411 - http://www.law.cornell.edu/uscode/text/12/411 Refusal Penalty 12USC501a – http://www.law.cornell.edu/uscode/text/12/501a http://savingtosuitorsclub.net Stop being a Slave!!!!!! This is Tax Free Money!!!!!! http://stormthunder.com/ Irrecusable obligation, which according to 'Bouvier's Law Dictionary' (1914 ed.), is "a term used to indicate a certain class of contractual obligations recognized by the law which are imposed upon a person without his consent and without regard to any act of his own." This is distinguished from a recusable obligation, which according to Bouvier, arises from a voluntary act by which one incurs the obligation imposed by the operation of law. The Income Tax succinctly described is an irrecusable obligation. The obligation to make a return of income for using private credit is recognized in law as an irrecusable obligation. The voluntary use of private credit is the condition precedent, which imposes the irrecusable obligation to file a tax return. If private credit is not used or rejected, then the operation of law, which imposes the irrecusable obligation lies dormant and cannot apply. The people have it within their power to strip the Fed of its powers, rescind private credit and get the bankers to pay off the National Debt should Congress fail to act.

Tue, 04/16/2013 - 00:49 | Link to Comment David Wooten
David Wooten's picture

"In this world nothing can be said to be certain, except death and taxes.” - Benjamin Franklin

Let's be fair to Franklin by noting that this quotation was made when he was in his 80s and not far from death and probably a little depressed about it. The statement is also self-contradictory as it states (with certainty) that nothing can be said to be 'certain'. That being the case, proving it false is unnecessary.

There are far better quotations from this truly wise man - like this one:

"Democracy is two wolves and lamb voting on what to have for lunch".

Tue, 04/16/2013 - 01:12 | Link to Comment toys for tits
toys for tits's picture

I like the 'early to bed, etc....' from an old guy who enjoyed the French ladies and night life.

Tue, 04/16/2013 - 07:22 | Link to Comment General Decline
General Decline's picture

"Democracy is two wolves and lamb voting on what to have for lunch".

 

"Liberty is the lamb being armed" - some other guy

Tue, 04/16/2013 - 10:47 | Link to Comment Metal Minded
Metal Minded's picture

"Democracy is two wolves and lamb voting on what to have for lunch"

Anyone else getting tired of seeing this canard(false, deluding statement designed to confuse the listener)?

Wolves and lambs do not possess mind as human(separate, temporal, physical) beings(one,eternal, spirit) do.

It appears we are capable of of something a bit more sophisticated than that of either wolves or lambs.

Tue, 04/16/2013 - 08:44 | Link to Comment spentCartridge
spentCartridge's picture

Why was Benjamin Franklin observing the social makeup of pre/post English revolutionary activity as a guest and agent to the CROWN & king George in England circa 1769?

 

Was it because he was perhaps, shall we say, not quite what (official) history describes him as being?

Tue, 04/16/2013 - 00:56 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

So... ppl would rather live in Cyprus or Malta than Sweden, Holland or Germany.  Right?  ;-)  ;-)

Q:  Will the average person really want to live in one of these tax-free, mink-lined, over-heated cages?  What about variety of climate and geology?  Or a vibrant intellectual and cultural life -- when we're not re-re-re-re-counting the depreciating Precious.

Admittedly overt-taxing is paralyzing to free-enterprise, while it is great for a black economy, and flight of taxed and untaxed capital.  But... being untaxed is not exactly the "bee's knees" either, come to find out.  How about a reasonable medium?  Like we USED to have in most/all Western countries -- before the cancer of FRB & over-leverage and toxic assets riddled the body?

Bring back balance, perspective, moderation and compromise.  And bring back Checks & Balances in corporate and political governance, to keep casino/crony capitalism in check, so the system can work properly.  Is that too much to ask?

Tue, 04/16/2013 - 01:00 | Link to Comment Yen Cross
Yen Cross's picture

Kirk2NCC1701 You need to get LAID. Yer over thinking the trade.

Tue, 04/16/2013 - 01:49 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

+1.  [LOL]  That too.

Tue, 04/16/2013 - 01:59 | Link to Comment Yen Cross
Yen Cross's picture

    Self- Humiliation is a plus. ;-)

       US 30    14654.00    14599.20    14657.00    14537.00    54.80    0.38%

Tue, 04/16/2013 - 01:42 | Link to Comment Mark_BC
Mark_BC's picture

The government doesn't extract wealth via taxes. If it did, then it wouldn't be bankrupt. The government has been captured and extorted just like everyone else in the western world. Bankers extract wealth via taxes and insider trading, and government is merely the tool they use to effect this. The government used to be for the people. Now it is for the bankers. Rather than trying to get rid of the government, we should bring it back to the people. This means a bloody revolution through which the wealth of the middle class is forcibly taken back from the elites via a new form of wealth taxation (and elimination of income tax) that strategically targets the ultra wealthy parasites -- the billionaires, not the millionaires.

Tue, 04/16/2013 - 03:05 | Link to Comment alfbell
alfbell's picture

 

 

Not totally accurate Mark_BC

The government uses the tax money to support its infrastructure, pay government workers, pay for defense, education, etc. and all the subsidies and welfare, and foreign aid, etc. etc. Granted the bankers wind up getting a good deal of the money as it channels through all the iines but only that money that becomes INTEREST (or bail outs).

Tue, 04/16/2013 - 02:15 | Link to Comment alfbell
alfbell's picture

 

 

With a red marker, write in big letters on the back of every FRN that you take in and spend, "END THE FED". Keep doing it non-stop until the message is continuously circulating all over the country.

Tue, 04/16/2013 - 10:16 | Link to Comment auric1234
auric1234's picture

Nice idea. Can you think of something similar for Euro bills?

 

Tue, 04/16/2013 - 02:18 | Link to Comment alfbell
alfbell's picture

 

 

DOWN WITH GOVERNMENT.

We were better off with monarchs. The Magna Carta was circumvented.

I'd prefer a benevolent dictator. American citizens are too dumb, lazy and selfish to have a democratic republic.

Tue, 04/16/2013 - 07:23 | Link to Comment Metal Minded
Metal Minded's picture

Go, Machiavelli, Go!

We can create Neo-Feudalism, and finally complete the job of making the 99% Neo-Serfs.

Yes, we can!

Tue, 04/16/2013 - 08:57 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

alfbell, :"

I'd prefer a benevolent dictator. American citizens are too dumb, lazy and selfish to have a democratic republic."

well that's what you got  it's just not discussed in public media..oh and benevolent they ain't

Tue, 04/16/2013 - 09:02 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

seems we have false flags are in a bull market..how can you tell it was a false flag attack?? easy the targets are always the sheep, never the elite wolves,,bomb a few elite and then maybe I am wrong.

Tue, 04/16/2013 - 02:21 | Link to Comment alfbell
alfbell's picture

 

 

Didn't it go something like this...

 

Woman to Benjamin Franklin: "What sort of government have you wrought for us?"

Benjamin Franklin: "A republic madam... if you can keep it."

BF was not only brilliant, he was quite prescient.

Tue, 04/16/2013 - 03:24 | Link to Comment toys for tits
toys for tits's picture

Reminds me of the one zh article themed, 'invented by genuises, now run by idiots'.

Tue, 04/16/2013 - 03:36 | Link to Comment AnAnonymous
AnAnonymous's picture

'Americans' and their fabled myth.

The question was republic or monarchy. Which matters quite a lot these days since clearly, Ben Franklin opposed a private form of government vs a public form of government.

It matters most as 'americans' today blame the public sector, while claiming that their private sector has properties it obviously has not.

Once again, it shows how 'americans' are obsessed with power, leading everything for them to be a matter of situations.

They have no other option than domination and therefore cant not be governed. Meaning they can not govern themselves. They can only dominate. Which makes any rule of law a moot point. No rule can hold up when it is a matter of situation. 'Americans' cant afford being on the wrong side of a law since it would mean being governed.

Welcome to an 'american' world. The state of the art in terms of civilization. So 'americans' say.

Tue, 04/16/2013 - 04:46 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymousitizens and their fabled myth.

The quest was history rewritingness arbitrarily, which is the mattering thing quite a lot these days when somehow telling that under other forms of whatever. AnAnonymous Chinese citizenism citizenry told that Ben Franklin inventioned time traveling flying rickshaw give flying kitestring lightning the powered. Facilitationed George Washington to go back in time to sink the Easter Islanders with pouring of US 'american' citizenism before 1776,July,4th.

That matteringest most as AnAnonymousitizens today follow path to glorify Chinese citizenism steadfastly while blaming US citizenist 'americanism' on the behalf of humanity, to hide behind the group in order to dilute their Chinese citizenism responsibility.

Once again, it shows facts are only facts when they are acknowledged by Chinese citizenism citizens.

They have no other option than flagrant roadside defecation and therefore can't not be smelled. Meaning they will not restrain themselves. They can only defecate. Which makes any side of road a pooped point. No rule can hold up when it is a matter of insanitation. Chinese citizenism 'AnAnonymous' citizens can't afford being on the wrong side of a road since it would mean being constipationed.

Welcome to an AnAnonymist world. It is a smelly place, so hold your nose, you'll see.

Tue, 04/16/2013 - 06:37 | Link to Comment shovelhead
shovelhead's picture

Mao-Mix.

Your cat will love it.

Same great taste, in or out of the cat-box.

Tue, 04/16/2013 - 07:28 | Link to Comment General Decline
General Decline's picture

"They have no other option than flagrant roadside defecation "

 

Just thought I would re-post that.  it made me chuckle.

Tue, 04/16/2013 - 07:41 | Link to Comment DangerClams
DangerClams's picture

Awesomeful.

Tue, 04/16/2013 - 08:46 | Link to Comment Lebensphilosoph
Lebensphilosoph's picture

As opposed to China, where the people have for some 5000 years been mindless slaves of the collective headed by an absolutist order that have put every king, emperor, dictator and despot in the rest of the world to shame in terms of the power they have wielded and the cruelty they have shown. Don't tell Americans about being obsessed with power, you racist control freak.

Tue, 04/16/2013 - 02:31 | Link to Comment Yen Cross
Yen Cross's picture

  F/X is Bi-Polar. I'm staying flat.  Fucking POMO in the middle of the night. DOW cfd's are up 60 points?

Tue, 04/16/2013 - 03:28 | Link to Comment AnAnonymous
AnAnonymous's picture

Since 'Americanism' is a success story of the State, since Ben Franklin is a founding father, taxes must be as certain as death for him. It cant be otherwise.

As an 'american', it was clear for him that 'americanism' is as certain as death, there can not be other way than 'americanism'.

As 'americanism' is a success story of the State, it makes taxation as certain as 'americanism', which is as certain as death.

There is no way 'Americans' can get rid of the State. 'Americans' built their success on the State, crushing stateless societies. As long as there will be 'americans', there will be State societies. The twos go together and cant be separated.

Tue, 04/16/2013 - 03:55 | Link to Comment Harrison
Harrison's picture

One of the nice things about Taiwan is that at a 12% (or lower) tax rate for the vast majority of the population, TFD is around February 15. You have to earn quite a bit (compared to the median) to get hit with the 20% rate.

Tue, 04/16/2013 - 04:22 | Link to Comment kedi
kedi's picture

Those countries with no taxes are either little toy countries with no economy other than tourism and tax haven, or oil producers run by dictators. They are tiny. Powerless. They exist on greed and selfishness. They are independant countries only because the rich of other countries keep them as pets, secret money stashes and places to relax. So not independant at all. You want something real, of value, you pay for it. People who don't want to pay taxes in their country are thieves. People who keep little pretend tax haven countries live off the thievery. People who do not pay taxes are like squatters who sneak into and live in a house that someone else built. 

Tue, 04/16/2013 - 04:33 | Link to Comment Hobbleknee
Hobbleknee's picture

What are these countries with no taxes that you speak of?

Tue, 04/16/2013 - 07:06 | Link to Comment howenlink
howenlink's picture

"People who don't want to pay...are theives"
Actually governments who steal are theives.

Tue, 04/16/2013 - 07:42 | Link to Comment Lebensphilosoph
Lebensphilosoph's picture

You want something real, of value, you pay for it.

I'm quite prepared to pay for anything and everything I want that someone is selling to me. I'm even quite prepared to pay for public services and whatnot insofar as I use them and in proportion to the use I make of them.

What I am not going to do is pay for you.

And if you or anyone else is forcing me at gunpoint to hand over my property then that is theft and they are the thieves.

People who do not pay taxes are like squatters who sneak into and live in a house that someone else built.

No, that is every newly-elected cabal of politicians. And benefits scroungers are literally living in a house someone else paid for.

Tue, 04/16/2013 - 04:35 | Link to Comment Hobbleknee
Hobbleknee's picture

The data on this table needs to be updated.  The average Swede pays 70% of their income in taxes, and Danes pay even more.

Tue, 04/16/2013 - 05:02 | Link to Comment the tower
the tower's picture

Tax Freedom Day in Europe? There is no such thing. You pay income tax on every euro you make in a given year, unless you live in Monaco or Andorra. 

The Middle Eastern countries that don't charge income tax WILL ask you for a portion of your income as they DO want you to contribute a part of your income to the country. It's just not official and therefor you won't find statistics about it.

There are way too many people on this site given the space to show off their google/wikipedia skills, but who obviously have no clue about reality.

Tue, 04/16/2013 - 06:48 | Link to Comment auric1234
auric1234's picture

If you're thinking Andorra, you're out of luck. You can't get a citizenship in Andorra unless you can prove Andorran bloodline.

Tue, 04/16/2013 - 10:02 | Link to Comment the tower
the tower's picture

True, Monaco is easy though, you just need property and/or a business, which will both set you back a million or so. I guess you can rent too.

Naturalisation takes 10 years.

Tue, 04/16/2013 - 05:08 | Link to Comment Zola
Zola's picture

@kedi You obviously didn't read the other ZH article posted today on that very same topic. Don't fall for the Stockholm syndrome please...

Tue, 04/16/2013 - 05:18 | Link to Comment willien1derland
willien1derland's picture

My sincere & heartfelt condolences to "Bank Guy From Brussels"...Though the beer selection is amongst the finest, if not THE finest, in the world - perhaps this is some correlation...

Tue, 04/16/2013 - 05:44 | Link to Comment Satan
Satan's picture

What is this tax you speak of? Here in Italy we choose how much tax we pay!

Tue, 04/16/2013 - 05:59 | Link to Comment world_debt_slave
world_debt_slave's picture

One can become a "'99'er", get food stamps, then go on disability.

Tue, 04/16/2013 - 06:48 | Link to Comment auric1234
auric1234's picture

.

Tue, 04/16/2013 - 07:46 | Link to Comment fijisailor
fijisailor's picture

I lived in the Caymans for 2 years.  Sure there is no import or income tax but there are high import duties and everything is imported except crappy rum cakes and local beer.  So as long as you don't consume anything you pay no tax.

Tue, 04/16/2013 - 07:49 | Link to Comment fijisailor
fijisailor's picture

correction:  no property or income tax.  There is an import tax

Tue, 04/16/2013 - 09:56 | Link to Comment jjsilver
jjsilver's picture

There is no law that requires an American National(non U.S. citizen) not engaged in a trade or business within the U.S. to pay an income tax. If you read the law you would know this and stop volunteering to gift money to the government.

Read the law for yourself, not legal advice

 

this site can help with your education

http://stopfedtaxliens.com/

Do NOT follow this link or you will be banned from the site!