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$2,100 USD rent per month
a steal for the murder capital of the EU
Vilnius: You are more likely to be murdered in the Baltic state of Lithuania than anywhere else in the European Union, according to figures released on Tuesday by the EU's official statistics agency, Eurostat.
Not to mention the damned MAYOR DRIVING OVER YOUR MERCEDES WITH A TANK just for fun !!
Sounds almost as good as the ol' USSA where the cops just kill you in the streets if you look at 'em wrong.
Edit: Oops - looks like somebody already posted this below. Sorry for the dupe ...
The only thing the USA manufactures these days is YOUR OPINION !!!
The writer of this post is obviously a completely self-referential, narcissistic, self-absorbed prick.
The best thing for him would be to have a live-running Husqvarna chain-saw run up his ass.
More insurrection @ http://carolelieffthecuriouscapitalist.co
From 1945 to the year 2000, the share of total income taxes paid by corporations dropped from 35% to 10%, a decline of 71%. Corporations use our roads to transport merchandise. Their children and employees are educated in American schools. They want to be protected by our courts and armies at home and abroad. They just don’t want to pay for it. Tax avoidance has become corporate welfare, an entitlement program for the wealthy and corporations. A congressional study, cited by Cheryl Woodard, found 63% of U.S. corporations paid no income taxes in 2000 while collecting $2.7 trillion in gross receipts.
According to Woodard’s research, between 1990 and 2000, corporate profits rose 93% as CEO pay increased 571%. According to the Census data, between 2000-2004, the median income of the middle class shrank 3.6%.
In 2004, David Evans of Bloomberg News, disclosed that a 5-story, white office building on called Ugland House in the Cayman Islands is the official address of 12,748 companies.
Congress knows it’s not really their home. It’s just a fake address. To cut tax bills.
The largest U.S. companies use tax havens like the Cayman Islands to escape paying billions in U.S. taxes. They’re not doing business there. It’s pretend.. It’s a mailbox address. The IRS is outgunned and outsmarted by the best corporate lawyers money can buy.
HOW TO SHIP JOBS OVERSEAS AND GET A TAX BREAK TOO
April 15, as you trudge to the post office to pay your taxes, big business hatches hundreds of plots to avoid theirs.
Steve Liesman, writing in The Wall Street Journal, illustrates one insidious tax break. “There’s nothing in the tax code entitled Tax Break for Hiring Foreign Workers. But, believe it or not, our tax code allows perpetual deferment of foreign-earned profits of U.S. corporations. The result? Foreign profits of U.S. companies are taxed at a lower rate than their U.S. income, creating irresistible incentive to only invest in factories overseas. And this is why we have no job creation.
The tax code allows companies to avoid the 35% U.S. corporate tax rate on it foreign income if this money remains invested overseas. Here’s how it works before the loophole:
A company earns $100M abroad in “Low-tax-istan” where the corporate tax rate is 20%. The foreign subsidiary pays this ($100M) to the U.S. parent. The parent then pays the $35M to the U.S. government and takes a credit for the 20% ($20M) payment to the “Low-tax-istan” government. Net to the IRS? $15M
Now, for the loophole.
The U.S. subsidiary keeps money offshore, certifying it is invested overseas. It never remits the money to the parent, so doesn’t pay Uncle Sam the $15M. Which is better– a factory in Massachusetts generating $100M in pretax profit & netting a company $65M? Or one in “Low-tax-istan” generating $100M in pretax profit, this one netting $80M ?The company based in Low-Tax-istan adds an extra $15M to its bottom line as a reward for firing American workers.
In 2005, Congress sweetened the deal for corporate job exporters by passing a special law lowering the tax rate to 5¼ % for corporations who brought these earnings home. The pharmaceutical industry alone repatriated $75 billion at these bargain-basement tax rates. In 2004, Eli Lilly alone cleared $3B in profit, yet only paid 1% of worldwide pretax profits to the U.S., according to the New York Times.
The Tax Holiday Provision was camouflaged in legislation called the JOBS Act. May 11, 2004, the Senate voted on Fritz Holling’s bill to kill these tax breaks. This was overruled, resulting in a vote of 74 to 23 in favor of keeping them. Obviously, many voting to keep the tax breaks were Democrats. Corporations brought home $350 billion they’d stashed overseas to take advantage of the 5 ¼ % rate. A $104B dollar tax break.
According to The New York Times, Hewlett-Packard, which has accumulated $14B in foreign profits (and lobbied hard for the tax break) announced on January 10, 2005, it would continue reducing its U.S. workforce. In July, HP announced in would modify pensions and eliminate 15,000 jobs. This amounted to 10% of its global workforce. The story notes, “U.S. corporations announced plans in June to cut 111,000 jobs – the highest monthly total in 17 months. Overall job cuts are on the rise in 2005, reaching 538,274 through June.”
Oracle had $3 billion in foreign profits brought back to the U.S. under the special tax rate. According to The Times, analysts expected Oracle to use this money to pay off its takeover of PeopleSoft. In the meantime, the company eliminated 5,000 jobs.
In January 2006, Ford announced the lay off of 30,000 workers while closing 14 plants. According to The Washington Post, Ford announced the layoffs saying on page 2 that “repatriation of foreign earnings pursuant to the American Jobs Creation Act of 2004 resulted in a permanent tax savings of $250M.” U.S. Senator Byron L. Dorgan Take This Job And Ship It, 2006 (pp73-79)
Congrats Sovereign Man for seeing the reality of your options, and taking one. you are obviously feeling good about yourself, don't let it go to your head.
USD 2,100 for 1000 sqf - i guess that is big(?) to slaves of NYC - even if its furnished and swank is high compared to peers in vilinus, or in tallin, warsaw, budapest. i guess you're paying a night rate, not monthly or quarterly. get some of your staff to relocate you to a super fly pad of ~250 sqm for the same money - they know better than some english-speaking agent
but, the odd thing is, why would you, an expat, living life in his penthouse office party pad, want to advertise your fortune? to be flamed as a traitor? or to have your little paradise swamped with zerohedge readers who would complain about the lack of twist-off beers while they fumble around a foreign language, go postal on the first girl who dumps their lame asses and catch the next plane back home to mommy?
give it a few years. you'll have a nice run-in with some tough guys, get pulled through the ringer by the tax police, have your lack of rights demonstrated to you in crushing frustration by some social element to which americans have been de-sensitized over the course of their lives. you might lose your mind for a while in the midst of partying in a foreign la la land.
or, you might swim like a fish, love it and prosper. regardless, i think you'll find that its better to avoid the expat masses and keep your victories quiet.
I kinda prefer living where there's a 1st Amendment, and that 2nd one is pretty nice too...
Vilnius? Isn't that on Baltic Ave. at the asshole of the Monopoly board.
LOL with "asshole of the monopoly board". Nice.
As for the original article, all I can think about is that movie, 'Hostel'.
I've been hearing great things about Eastern Europe for years when it comes to prices and the beaches. However, everytime I see their pornagraphy, it makes the German and Japanese stuff look puritanical...and that worries me.
Crap. Double post. Those scumbags at goldman sachs made me do it.
"I kinda prefer living where there's a 1st Amendment,"
Agreed. Though it seems the constitution is getting lost in space with Ms. Piggy lately.
"and that 2nd one is pretty nice too..."
You ping me, I'll shoot you. Which caliber do you prefer? ; )
Although it's not exactly in the constitution, they seem to have the gun thing covered.
Holders of the Right of Ownership of Weapons and Ammunition
The holders of the right of ownership of weapons and ammunition may be the State, permanent residents of the Republic of Lithuania, foreigners and legal persons registered in the Republic of Lithuania.
Full text, if anyone cares...
you must have a license there to possess any type of firearm. pffft.
the swiss have the right idea. firearms ownership is REQUIRED by every male over 18.
Agree, C.H. Our culture has gotten used to the 'licence and monitor' powers that be. My right to defend myself, my family and my community is a Natural/Organic/God-given right, it is not 'given' to me by our incompetent central planners. It's absurd that I am required to be licensed to own a gun and to conceal carry.
"My right to defend myself, my family and my community is a Natural/Organic/God-given right, it is not 'given' to me by our incompetent central planners."
ditto here too by God !
To paraphrase someone re: the swiss -- a well armed society is a polite society.......
Also mandatory callup in the military in Switzerland ..
it's a militia there
Count me in that group as well. Never leave home or visit without it.
Why would I live, contribute to the whole and pay my taxes like a good little boy in a place where government does not trust me to defend myself against the criminal element?
In fact government makes it harder for me to legally carry than the criminal. Its easier to just be a criminal for the "crime" of personal defense it seems...lol.
Its a bizzar set of memes to juggle to justify statism sometimes ;-)
The 2nd Amendment:
1st Amendment's big brother.
How is the weather? Beer? The important stuff? Europe can be very spendy,. Might be time to have a little former east block vacation. Screw France.
ladies are rather cheap, in price I mean.
what do you call cheap ?
What was that phrase?
A two-bit Whore?
Believe that meant $.25 back in the day.
Sorta like $4000. now, eh Spitzer?
"Spendy" you must be from the Fargo area
Upload speed faster than download, huh?
Not so sure what to make of that....
Actually is much faster
Download: 29.546 kbs
Upload: 20.618 kbs
Simon Black is starting to remind me of RobotTrader. Has anyone ever seen them in the same place at the same time?
if i could click the green up arrow 100 more times i would.
This is reflective of Lithuania’s substantially lower standard of living
This is reflective of Lithuania’s substantially lower standard of living
Health care sux there. Lithuanians think its one of the worst in the EU.
What a surprise.
Yes, is it better or worse than the US?
Go read Cassandra Does Tokyo about French health care costs. Live in Lithu, medical tourist in france. A free country looks better all the time.
AH, you has teh fast megabitz!!1
You are being ripped off. If it was west facing and an ocean view i could understand. 100$ a week for some potatos and cabbage? LOL.
You need to hire a local to shop for you so you dont spend more then 30$ a week. Local may charge 10$-20$ still a savings.
Internet? How about good wine good beer good hotdogs, lol.
Rights are only as good as there enforcement. If nothing is enforced they you have infinate rights.
The thrust here being..... ?
The usual - abandon America, or at least consider doing so.
Brazil is looking good. Maybe not for a family man like your self but for others without tiies...Not so bad.
That ping looks pretty high.
You would die alot in online games and might get screwed in a flash crash.
Only thing ill give this article is that Lithuanian women are simply stunning. Even though its not mentioned..
they have mixed saunas...
You need to prove that statement with a link :P.
Great. You just cost me five minutes googling "Lithuanian women..."
The average Lithuanian women are no better or worse looking than the average women in any other country.
If you believe otherwise, you are self-delusional.
Maybe the author doesn't like girls!
Kad prisivirei košes, tai ir srebk!
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