is it worth it being a US citizen?!?!

10 years ago

I don't know the figures, but if you leave Canada to avoid the "high taxes" (that apparently pay for free healthcare), and move to the US where the taxes are lower, don't forget you'll have to pay for your own healthcare.

As I said, I don't know how that compares, but you might find you'll end up paying far more for your healthcare (plus federal taxes, plus state taxes) than you would in just taxes in Canada.

From this thread http://www.warriorforum.com/off-topi...ing-30-so.html, it was apparent that maths isn't your strong suit, so, as was recommended in that thread, get someone who has expertise in this area to do the calculations for you.

On the other hand, if your father can afford to pay half a mill for you to move to the US, why not get him to pay your taxes in Canada?

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Cali16

10 years ago

Originally Posted by Joshua P

i never fall ill and im not worried about healthcare...

Oh, to be young and so naive. You do realize that health insurance isn't just for illness, don't you? You could have an accident and seriously injure yourself, running up medical bills into tens of thousands of dollars very quickly. And freedom from illness isn't a guarantee at any age.

As for the fee; I'm not sure where you're coming up with the $500,000 amount to become a U.S. citizen. According to the official site - http://www.uscis.gov/citizenship/lea...ly-citizenship, there is a filing fee of $595, plus a biometric fee of $85, for a total of $680. You also have to pass an English test and civics test.

If your only reason for doing this is tax purposes, I'm not sure how much you'll benefit as total taxes you'll owe each year will depend on many different factors.

I suggest you go to the site I mentioned above and read more about the process.

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Joshua P

10 years ago

Originally Posted by Cali16

Oh, to be young and so naive. You do realize that health insurance isn't just for illness, don't you? You could have an accident and seriously injure yourself, running up medical bills into tens of thousands of dollars very quickly. And freedom from illness isn't a guarantee at any age.

As for the fee; I'm not sure where you're coming up with the $500,000 amount to become a U.S. citizen. According to the official site - Apply for Citizenship | USCIS, there is a filing fee of $595, plus a biometric fee of $85, for a total of $680. You also have to pass an English test and civics test.

If your only reason for doing this is tax purposes, I'm not sure how much you'll benefit as total taxes you'll owe each year will depend on many different factors.

I suggest you go to the site I mentioned above and read more about the process.

So anyone with a couple grand spare can become a green card holder...really?!

You need to live abd work there for at least 8-10 long years there...maybe because most people here are US citizens already they dont know about this but this is the fastest way to get a green card ,the 500k way i mean other than marrying a US green card holder.

well why are people asking me to pay taxes from the 500k?

Guess most peole didnt read the whole thread and just jumped on TAXES AND HEALTHCARE
when it is just a factor other than the main concern which the user above mentioned...but he thought its just about plane tickets and stuff...

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Claude Whitacre 10 years ago

Originally Posted by Joshua P

well why are people asking me to pay taxes from the 500k?
.

Where are you getting this figure? Do you really think you have to pay $500,000 to become a US citizen?
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- BigFrank Banned 10 years ago
  
  Originally Posted by Claude Whitacre
  
  Where are you getting this figure? Do you really think you have to pay $500,000 to become a US citizen?
  
  They offered me that much to leave. :-(
  
  Cheers. - Frank
  
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Alexa Smith

Banned 10 years ago

Originally Posted by whateverpedia

From this thread http://www.warriorforum.com/off-topi...ing-30-so.html, it was apparent that maths isn't your strong suit, so, as was recommended in that thread, get someone who has expertise in this area to do the calculations for you.

This.

Very much this.

This is something you need to discuss with a qualified accountant who's familiar with advising people about similar issues. Not something to take advice on in a public forum, where well-meaning people can so easily give mistaken advice and tell you things that aren't quite accurate/applicable to your exact situation. I don't mean it rudely, but "math not being your forte" makes that all the more important, in your case, I think.

.

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fin

10 years ago

Probably one of the weirdest questions I've ever heard in my life.

You know the US is a big place, right?

Surely plane tickets to events/JV meetings won't amount to 500K

Also, you said the big players are in the US, but if you're talking somewhere like SV your living expenses will surely outweigh your Canadian taxes if you're working from home.

Get citizenship for Europe, much nicer place.

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Joshua P

10 years ago

Originally Posted by fin

Probably one of the weirdest questions I've ever heard in my life.

You know the US is a big place, right?

Surely plane tickets to events/JV meetings won't amount to 500K

Also, you said the big players are in the US, but if you're talking somewhere like SV your living expenses will surely outweigh your Canadian taxes if you're working from home.

Get citizenship for Europe, much nicer place.

Well unless im a green card holder or a citizen i cannot conduct any biz stuff in US...so it isnt just about the plane tickets and a nice place to live :!

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yukon Banned 10 years ago

Originally Posted by Joshua P

Well unless im a green card holder or a citizen i cannot conduct any biz stuff in US...so it isnt just about the plane tickets and a nice place to live :!

That's funny considering the millions of illegals doing business everyday & sending their money south of the border.

Stop in at any US gas station that has a Western Union, there's going to be a line.
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fin 10 years ago

Originally Posted by Joshua P

Well unless im a green card holder or a citizen i cannot conduct any biz stuff in US...so it isnt just about the plane tickets and a nice place to live :!

Oh really, well I can do it as a UK citizen living in Asia.

Don't know why you'd run into problems doing it in Canada, but maybe things are different there.

Offline is different, I get that.
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fin

10 years ago

And btw, I heard American girls are easy so I'd go down that route instead lol

Being serious though, unless you plan to live there forever I would seriously consider the ramifications. It's one of the only countries in the world where you need to pay tax no matter where you live in the world and you even need to jump through hoops when opening things like bank accounts, which most countries are making you jump through more hoops to do because of the pressure the US government are putting on them.

If you want to live in US for rest of your life get a green card, but if not you will need to renounce your citizenship if you ever want to escape the hassles and it will be a waste of 500K.

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Tom B

Banned 10 years ago

Coming to America for taxes would be very foolish, imo.

America taxes on worldwide income. Not only that, it also requires foreign banks to report any American accounts to the IRS.

If you want to lower your taxes, move to a low tax country. As far as I know, Canada only taxes you if you are living there.

There are reasons why many American companies are moving to other countries (some of the highest corporate taxes in the world).

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

There are reasons why many American companies are moving to other countries (some of the highest corporate taxes in the world).

The rates don't matter. What matters is what they actually pay and NONE pay anywhere near the stated rates. That's a fact.

They have all figured out how to avoid and evade with their army of tax attorneys.

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

The rates don't matter. What matters is what they actually pay and NONE pay anywhere near the stated rates. That's a fact.

They have all figured out how to avoid and evade with their army of tax attorneys.

Cheers. - Frank

And still companies leave this country for more favorable tax rates. That is also a fact.

The US isn't competitive when it comes to business. The tide is shifting and we will see more flight and/or companies being started in more favorable "business" climates.

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

And still companies leave this country for more favorable tax rates. That is also a fact.

Patriots. lol

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

Patriots. lol

Cheers. - Frank

Sorry, bub, but you should be directing those "Patriotic" arguments towards the people in charge, not companies. I for one have no problem reducing taxes since our government can't handle the money in a responsible matter.

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

Sorry, bub, but you should be directing those "Patriotic" arguments towards the people in charge, not companies. I for one have no problem reducing taxes since our government can't handle the money in a responsible matter.

We're all in charge of our own decisions. America - love it or leave it.

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

We're all in charge of our own decisions. America - love it or leave it.

Cheers. - Frank

Yep, and they left it. It's a small world and if America doesn't want to be competitive then more will leave for greener pastures. I don't blame them for a minute. Maybe some day America will wake up and stop treating their citizens as sheep.

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

Yep, and they left it.

Correct. Because they don't love it. Greed will always rule in the mind of big business.

Shameless.

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

Correct. Because they don't love it. Greed will always rule in the mind of big business.

Shameless.

Cheers. - Frank

I don't know Frank. You call it greed, I call it smart. I imagine you think companies relocating to "right to work" states are greedy as well.. or companies relocating to places where doing business is easier as disloyal.

I honestly don't get the mindset.

I don't expect customers to be disloyal if they go to a competitor who offers a better product. I guess it's easier to blame it on greed than look at what is really wrong.

I wasn't born in America to become it's slave. I am not interested in America keeping tabs on me (health care, foreign bank accounts). I hate seeing our Constitutional rights being chipped away under the guise of security. I also don't feel like jumping through too many hoops just to do business here (Internet taxes that will probably be snuck through inside some other non-related legislation).

I guess it comes down to America being worthy of Patriotism. As of right now, it fails in my opinion.

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BigFrank Banned 10 years ago

Originally Posted by Thomas Belknap

I guess it comes down to America being worth of Patriotism. As of right now, it fails in my opinion.

As a totally disabled, combat veteran, I do come at it from a different angle and one which I'm never going to surrender.

I love my country, warts and all and would never change my opinion for any amount of money. I can't be bought.

Our country provides everything for a corporation to be successful and once they become that way they look for every opportunity to do everything they can to lighten their load.

I respect your right to feel about it the way that you do, I just won't ever share that view or agree with it in any way. It's greed, pure and simple.

And you're correct about the 'right to work' states. It's nothing more than granting a company the right to pay slave wages and if they could get people to work for $1 an hour, they would - without compunction.

I won't say anything else on the topic as I generally get these threads shut down, which I take no pleasure in.

Cheers. - Frank
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- discrat 10 years ago
  
  Originally Posted by BigFrank
  
  I won't say anything else on the topic as I generally get these threads shut down, which I take no pleasure in.
  
  Cheers. - Frank
  
  LOL. Not laughing at YOU ,I just like your gumption Frank
  
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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

I guess it comes down to America being worthy of Patriotism. As of right now, it fails in my opinion.

Flights leave for many third-world, toilet nations, all day and night.

Enjoy your trip - and your stay. Oh, wait - that's right - you won't be going anywhere - you'll keep living here, but you'll just be complaining about America, ad nauseam. lol

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

Flights leave for many third-world, toilet nations, all day and night.

Enjoy your trip - and your stay. Oh, wait - that's right - you won't be going anywhere - you'll just be complaining about America, ad nauseam. lol

Cheers. - Frank

Nice Frank, that didn't take you too long to try and make it personal. First you say you don't want to get this thread deleted but couldn't quite stop. haha

America needs good sheep like you bud. Keep up the good work.

No need to live in 3rd world countries. You noticed many companies relocating to the UK/Ireland/Hong Kong/Singapore. I lived in a few countries myself so no problem on the relocation.

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Kay King

10 years ago

Frank -

When your response to disagreement is repeatedly trying to shut down threads where you don't like the comments - it's obvious.

There are a couple people on this forum doing that recently (not just in this section) and it's getting tiresome to the rest of us.

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BigFrank

Banned 10 years ago

Originally Posted by Kay King

Frank - When your response to disagreement is repeatedly trying to shut down threads where you don't like the comments - it's obvious.

I said I DON'T enjoy getting threads shut down.

There are a couple people on this forum doing that recently (not just in this section) and it's getting tiresome to the rest of us.

I am bowing down and begging your forgiveness. lol

Isn't there some button that you can push to ignore my post? Please avail yourself of it. That will make us both very happy.

Cheers. - Frank

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TimPhelan

10 years ago

The issue of corporate inversion is something that can be dealt with if only the two parties could simply compromise. One side wants to deal with it by lowering corporate taxes. The other wants to deal with it by changing tax laws to make it more difficult for corporations to do an inversion. Both would work. I would be in favor of lowering corporate tax rates if we could also have serious tax reform and also close some of the biggest loopholes. If only we didn't have a disfunctional government now where compromise is considered a dirty word.

By the way, you can criticise our country and still be patriotic. I love this country, but still recognize that it has a lot of problems. Guess what? It always has had problems since the day it was formed. Recognizing and admitting the problems is the first step to making it better. Good grief. This country sure as hell is worth being patriotic over.

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Dennis Gaskill

10 years ago

Originally Posted by TimPhelan

The issue of corporate inversion is something that can be dealt with if only the two parties could simply compromise. One side wants to deal with it by lowering corporate taxes. The other wants to deal with it by changing tax laws to make it more difficult for corporations to do an inversion. Both would work. I would be in favor of lowering corporate tax rates if we could also have serious tax reform and also close some of the biggest loopholes. If only we didn't have a disfunctional government now where compromise is considered a dirty word.

By the way, you can criticise our country and still be patriotic. I love this country, but still recognize that it has a lot of problems. Guess what? It always has had problems since the day it was formed. Recognizing and admitting the problems is the first step to making it better. Good grief. This country sure as hell is worth being patriotic over.

Well said, Tim.

I've mentioned a few times I'm an independent. This is how I see several issues, meaning that if elected officials would stop working against each other and start working together we'd all be better off.

The adversarial approach to governing only seems to create wider and wider divisions that compromise problem solving.

Originally Posted by fin

I don't know why so many people underestimate the quality of life in other countries.

I've been to the US and it's a great place, but most of the developed world is of similar standard.

I think it's largely a perspective that's carried over from a time when that wasn't the case. Changes in perception can take a great deal of time, especially on a global scale.

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discrat

10 years ago

Originally Posted by Dennis Gaskill

Well said, Tim.

I've mentioned a few times I'm an independent. This is how I see several issues, meaning that if elected officials would stop working against each other and start working together we'd all be better off.

.

The soundest advice I have heard on this Thread so far !!

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seasoned

10 years ago

Originally Posted by TimPhelan

The issue of corporate inversion is something that can be dealt with if only the two parties could simply compromise. One side wants to deal with it by lowering corporate taxes. The other wants to deal with it by changing tax laws to make it more difficult for corporations to do an inversion. Both would work. I would be in favor of lowering corporate tax rates if we could also have serious tax reform and also close some of the biggest loopholes. If only we didn't have a disfunctional government now where compromise is considered a dirty word.

By the way, you can criticise our country and still be patriotic. I love this country, but still recognize that it has a lot of problems. Guess what? It always has had problems since the day it was formed. Recognizing and admitting the problems is the first step to making it better. Good grief. This country sure as hell is worth being patriotic over.

We really CAN'T "close the loopholes", as that is unfair to ALL local businesses. We ALSO CAN'T "make it more difficult for corporations to do an inversion", as that would be unfair to all local corporations. And if we "make it more difficult for [ALL] corporations to do[, or use,] an inversion [like strategy]" you could watch as the economic structure of the US is quickly DEMOLISHED!

HECK, US companies are buying foreign ones. The foreign ones have stock, and who knows where it may be sold. Sometimes they are bought for the name and business, etc... over there. It would certainly be easier for american companies to change the american side than it would be to change the other side. To say that a person in the US, that really doesn't even EXIST, by the way, can not be free is ludicrous. And it is never that easy. And what if a foreign corp wants to buy a US company? Maybe that US company is large and in trouble, and your STUPID laws prevented it from being saved.

But YEAH, corporation could be translated as making a person. It is basically a person that exists ONLY on paper. That it buys real stuff, and hires real people is another story entirely. Basically it isn't real, and the board makes the initial decisions. Does this mean that such laws must also affect foreign born/resident board members?

Steve

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yukon

Banned 10 years ago

Originally Posted by BigFrank

Flights leave for many third-world, toilet nations, all day and night.

Enjoy your trip - and your stay. Oh, wait - that's right - you won't be going anywhere - you'll keep living here, but you'll just be complaining about America, ad nauseam. lol

Cheers. - Frank

I have to agree, anyone doesn't like where they're at, GTHO.

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Tom B

Banned 10 years ago

Originally Posted by yukon

I have to agree, anyone doesn't like where they're at, GTHO.

Anyone who tries to shut down conversations because they don't like what they hear shouldn't be in said discussions.

That is basically what the whole "leave if you don't like it" crowd is all about.

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

That is basically what the whole "leave if you don't like it" crowd is all about.

Right. You keep telling others what they're all about. But when someone points out any disagreement with you, they're 'bubs' and 'sheep.'

You believe in freedom of speech as long as the speech agrees with your own principles. You are one, great American. lol

Cheers. - Frank

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

Right. You keep telling others what they're all about. But when someone points out any disagreement with you, they're 'bubs' and 'sheep.'

You believe in freedom of speech as long as the speech agrees with your own principles. You are one, great American. lol

Cheers. - Frank

Definition of BUB

: fellow, buddy —used in informal address <come on, bub, get moving>

As for sheep, you wanted to get personal yet cry when you get the same response. I think you are the one telling others what they're all about as demonstrated in your post quoted.

Just look at your patriotic, greed statements. Time to look in the mirror as they say. Me thinks you are projecting just a tad.

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BigFrank

Banned 10 years ago

'Bub' - a term of condescension and everyone know it. lol

As for sheep, you wanted to get personal yet cry when you get the same response. I think you are the one telling others what they're all about.

Well, when the day arrives that I actually care what you think, I'll be sure to inform you.

Just look at your patriotic, greed statements.

As I stated, I stand by my assessment.

Time to look in the mirror as they say. Me thinks you are projecting just a tad.

Zzzzzzzzzzzzzzzzz. Extremely, weak. No surprise, there. lol

Cheers. - Frank

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Tom B

Banned 10 years ago

Frank, you should inform this site that they are wrong. Sometimes I use bud, pal, and mate. I can send you the definitions of those as well if you need them

Bub - Definition and More from the Free Merriam-Webster Dictionary

I'm enjoying your cranky old dude personna here.

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BigFrank

Banned 10 years ago

Originally Posted by Thomas Belknap

Frank, you should inform this site that they are wrong. Sometimes I use bud, pal, and mate. I can send you the definitions of those as well if you need them

Gee, nothing condescending about that post. You just keep making my point for me. lol

I'm enjoying your cranky old dude personna here.

It's early. :-)

Cheers,

Frank

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yukon

Banned 10 years ago

Originally Posted by Thomas Belknap

Anyone who tries to shut down conversations because they don't like what they hear shouldn't be in said discussions.

That is basically what the whole "leave if you don't like it" crowd is all about.

I was talking about countries, not forum threads.

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BigFrank Banned 10 years ago

Originally Posted by yukon

I have to agree, anyone doesn't like where they're at, GTHO.

Gee - when you say that you're Prince Charming. When I say it I'm Attila the Hun. lol

Please tell me your secret.

Cheers. - Frank
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seasoned

10 years ago

Originally Posted by BigFrank

Flights leave for many third-world, toilet nations, all day and night.

Enjoy your trip - and your stay. Oh, wait - that's right - you won't be going anywhere - you'll keep living here, but you'll just be complaining about America, ad nauseam. lol

Cheers. - Frank

Why LEAVE for one, if you can just stay and see the BIRTH of one?

Steve

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Kay King 10 years ago

Not quite - profit rules in the mind of business of any size. Oddly enough - it's the American way and has been touted for generations as a shining light of our society.

If I had that kind of financial backing AND planned to work from home for years to come...I'd be headed for a sweet island lifestyle.
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seasoned

10 years ago

Originally Posted by BigFrank

Correct. Because they don't love it. Greed will always rule in the mind of big business.

Shameless.

Cheers. - Frank

NOBODY EVER LOVES a country with a government that gets more corrupt! HECK, I had a roommate that LOVED IRAN! He LOVED IT! And he was born there, and they were apparently happy to have him.

In the end, he was FORCED OUT, with his WHOLE FAMILY! Had he stayed there, he would likely have been KILLED!

WHY? WHAT CHANGED? It was the SAME land! The country was STILL called IRAN! The language was probably STILL FARSI, though he didn't like how persian had "evolved". So WHAT changed?

******THE GOVERNMENT******!!!!!!!!! It went from a monarchy he liked that seemed to accept ALL, to one run by a cleric that hated ALL that didn't toe the line and associate only with others that did. OH, and they swore death to all like my roomate.

YEP! 1979 was a VERY popular year for iranian emigrants.

So NOBODY can love such a country, even if they always did, were born there, etc.... If they do, it was certainly some other aspect that always kept them there, they are just too $%^&*( to realize it, or they are BEHOLDEN to it in some way.

Steve

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BigFrank

Banned 10 years ago

Originally Posted by seasoned

NOBODY EVER LOVES a country with a government that gets more corrupt! Steve

While I have come to understand that you consider yourself the resident, infallible expert on any topic ever posted on this forum, by anyone, allow me to make you aware of a fact that seems to escape you. I'm talking about AMERICA, Steve. I don't give a hairy rat's ass about Iran. If you believe that your government is getting more corrupt every day, you are entitled to your opinion and you have the freedom of speech to voice it as loudly as you like. That's one of the things that makes America great.

There is absolutely nothing wrong with our form of government. It's about the people that it's comprised of and unfortunately many of them hate this country as much as you seem to and are simply unable to find anything good to say about America or begin to compromise to implement the changes required for it to get better for ALL of us. But you just go on bad-mouthing your country every single chance you get. I hope that it makes you feel good about yourself.

Why don't YOU go to Iran for a little while? Maybe you'll develop an appreciation for the greatest democracy that has ever been conceived on this planet that allows people to tear her down without taking them out to the soccer stadium to have their head lopped-off.

This country does not need to be reborn. It's need to be purged of people that don't appreciate the many blessings that it has to offer. They simply don't deserve to live in as great a nation as ours.

Do me a large favor, please? Ask Kay to show you where that 'ignore' button is so that you can click it and along with her just totally not respond to any of my posts, ever again. I promise you from the bottom of my heart that I will repay the kindness by never, ever responding to any of yours.

Now, doesn't that sound like an excellent plan going forward? I know that it works for me. Unless, of course, your goal is to do nothing more than antagonize others. Let's both give that a shot and see how it works out. We can both just go about our business with the pleasure of knowing that we will never have to engage each other in any way, shape or form. Can you say, Utopia? There are many here that share your views and your disdain for me and they will welcome your contributions more than I am ever going to be capable of. Bless them with your input and leave me alone. Surely that's not to much to ask?

Cheers. - Frank

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seasoned

10 years ago

Originally Posted by BigFrank

While I have come to understand that you consider yourself the resident, infallible expert on any topic ever posted on this forum, by anyone,

NOPE! I don't even post in many cases.

allow me to make you aware of a fact that seems to escape you. I'm talking about AMERICA, Steve. I don't give a hairy rat's ass about Iran. If you believe that your government is getting more corrupt every day, you are entitled to your opinion and you have the freedom of speech to voice it as loudly as you like. That's one of the things that makes America great.

You used the wrong tense. One of the things that MADE....

There is absolutely nothing wrong with our form of government. It's about the people that it's comprised of and unfortunately many of them hate this country as much as you seem to and are simply unable to find anything good to say about America or begin to compromise to implement the changes required for it to get better for ALL of us. But you just go on bad-mouthing your country every single chance you get. I hope that it makes you feel good about yourself.

You can say all you want, but it doesn't make it true. Yesterday, people(NOT WITH ME AT ALL BTW) went marching in the streets for a selfish thing they can never have. ANOTHER group, claiming to be with them, and assisting them in the endeavor, IRONICALLY cut their average pay by 25%! They blame the "rich" on both ends. So they say they want $15/hour but the REAL effective rate is $20/hour!!!!! The real effect to THEM is virtually NOTHING in monetary terms, since they will be working for fewer hours for effectively the same amount of money.

Yet YOU accuse me of all that garbage. I was one HAPPY with what it was, WITHOUT having to worry so much what state I was in, or about healthcare, or education, etc... HECK, Some people offered to accept a package for me, to facilitate a short notice move. In MY state the package is LEGAL. In their state it could be considered a FELONY!

Why don't YOU go to Iran for a little while?

Iran ******WAS****** kind of like this country BUT, as I said, it ISN'T now! I don't even know islam that well, and would certainly not want to be moslem. Why don't YOU go? You, Tim, etc... can go THERE. I mean you want some laws they have, and seem to want it promoted here. It ALREADY is there,

Maybe you'll develop an appreciation for the greatest democracy that has ever been conceived on this planet that allows people to tear her down without taking them out to the soccer stadium to have their head lopped-off.

I know you are trying to say that figuratively for me, but YOU guys did it LITERALLY.

This country does not need to be reborn. It's need to be purged of people that don't appreciate the many blessings that it has to offer. They simply don't deserve to live in as great a nation as this was.

With the one minor change I made, I AGREE!

Do me a large favor, please? Ask Kay to show you where that 'ignore' button is so that you can click it and along with her just totally not respond to any of my posts, ever again. I promise you from the bottom of my heart that I will repay the kindness by never, ever responding to any of yours.

Well, you spoke of freedom of speech earlier. Do you TRULY have freedom of speech if you can't hear?

Steve

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BigFrank

Banned 10 years ago

Originally Posted by seasoned

Well, you spoke of freedom of speech earlier. Do you TRULY have freedom of speech if you can't hear? Steve

Wow. Too deep for my pea brain. If it's OK with you, I'll just sit here in awe of your superior intellect and ponder the meaning of your messages. The entire world thanks you for blessing us with your greatness. lol

I knew you'd post, again. You have absolutely no self control and you do like nothing more than to antagonize people. I hope whatever it is that has made you so incredibly bitter and sad will one day be lifted from your shoulders. No one should have to live that way. (Now - this is where you say, "Me? You're the one blah, blah, blah." You're so predictable and there is nothing on the planet more boring than that.)

Now - let me teach you what commitment and self-control actually look like so that you will have an example to aspire to. I may never, ever be as smart as you, (I mean - who among us mere mortals is?), but if there is one thing I have learned, it is that people like you are riddled with fear. You fear more than anything else in life, being ignored and made to feel irrelevant. It simply drives you crazy.

Buh-bye. - Frank

P.S. Remember, you'll never be able to love America until you learn to love yourself. :-)

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seasoned

10 years ago

Originally Posted by BigFrank

Wow. Too deep for my pea brain. If it's OK with you, I'll just sit here in awe of your superior intellect and ponder the meaning of your messages. The entire world thanks you for blessing us with your greatness. lol

OKAAAAAAY...

I knew you'd post, again. You have absolutely no self control and you do like nothing more than to antagonize people.

WOW! So you wanted to "antagonize" ME, and simply not get a response. Do you see the IRONY there?

I hope whatever it is that has made you so incredibly bitter and sad will one day be lifted from your shoulders. No one should have to live that way.

THANK YOU! I hope so TOO!

Now - let me teach you what commitment and self-control actually look like so that you will have an example to aspire to. I may never, ever be as smart as you, (I mean - who among us mere mortals is?), but if there is one thing I have learned, it is that people like you are riddled with fear. You fear more than anything else in life, being ignored and made to feel irrelevant. It simply drives you crazy.

Buh-bye. - Frank

WOW! Did you get that from a crackerjack box? BTW I don't believe I EVER used that expression before. Thanks for the memory!

P.S. Remember, you'll never be able to love America until you learn to love yourself. :-)

Well, I tend to love things for the attributes they have. If they lose them, I love them less. Kind of like what I told you about iran!

As for loving myself? I am fine with myself. Am I perfect? NOPE! Could I use work? YEP! Am I trying to improve, YEP! But I don't hate myself.

Steve

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Tom B

Banned 10 years ago

Originally Posted by BigFrank

I knew you'd post, again. You have absolutely no self control and you do like nothing more than to antagonize people. I hope whatever it is that has made you so incredibly bitter and sad will one day be lifted from your shoulders. No one should have to live that way. (Now - this is where you say, "Me? You're the one blah, blah, blah." You're so predictable and there is nothing on the planet more boring than that.)

Frank, you're a hoot dude. You are begging people to put you on ignore because you can't help responding to them and you have the audacity to make that comment on self control.

Hilarious!

Now - let me teach you what commitment and self-control actually look like so that you will have an example to aspire to. I may never, ever be as smart as you, (I mean - who among us mere mortals is?), but if there is one thing I have learned, it is that people like you are riddled with fear. You fear more than anything else in life, being ignored and made to feel irrelevant. It simply drives you crazy.

Being overly sensitive isn't a good way to live either, man.

man noun ˈman, in compounds ˌman or mən
: an adult male human being

http://www.merriam-webster.com/dictionary/man

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whateverpedia

10 years ago

Originally Posted by Thomas Belknap

America taxes on worldwide income.

I believe the US has tax treaties with a number of countries though, including Australia, the UK and others.

For example, let's say I'm an Australian citizen, but work for a US company in their AU branch.

If I spend some time working at the head office in the US, I'd pay tax to the US tax office while I was there. When I return to AU, I have to declare the income I received in the US, but would get a tax credit for the amount of tax I paid in the US. As far as I understand it* the reverse would also be true, ie an American would get a tax credit for any taxes they paid to the AU tax office while there were working here.

* I'm not an accountant, so check with someone who is, especially one knowledgeable in international tax arrangements.

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Tom B

Banned 10 years ago

Originally Posted by whateverpedia

I believe the US has tax treaties with a number of countries though, including Australia, the UK and others.

For example, let's say I'm an Australian citizen, but work for a US company in their AU branch.

If I spend six months of any financial year at head office in the US, I'd pay tax to the US tax office while I was there. When I return to AU, I have to declare the income I received in the US, but would get a tax credit for the amount of tax I paid in the US. As far as I understand it* the reverse would also be true, ie an American would get a tax credit for any taxes they paid to the AU tax office while there were working here.

* I'm not an accountant, so check with someone who is, especially one knowledgeable in international tax arrangements.

Yes, America does have tax treaties with many countries. Still, do you think you should be taxed when not living and using the infrastructure you are paying taxes for?

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Joshua P

10 years ago

Originally Posted by Thomas Belknap

Yes, America does have tax treaties with many countries. Still, do you think you should be taxed when not living and using the infrastructure you are paying taxes for?

Hmm guys wanna know a secret?

Just like the US ,even Canada taxes its citizens on worldwide income...as if we're working for them..heck tax is really taxing me mentally at least atm.

Greedy guberment.

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Claude Whitacre

10 years ago

Originally Posted by Joshua P

Hmm guys wanna know a secret?

Just like the US ,even Canada taxes its citizens on worldwide income...as if we're working for them..heck tax is really taxing me mentally at least atm.

Greedy guberment.

Where are you getting the $500,000 figure? Do you really think you have to pay $500,000 to become a US citizen?

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Joshua P 10 years ago

Originally Posted by Claude Whitacre

Where are you getting the $500,000 figure? Do you really think you have to pay $500,000 to become a US citizen?

Hmm this should help im on phone

EB5 Green Card For Investments Between $500,000 and $1,000,000 | EB1 Green Cards, E2 Visas, L-1-A Visas, O1 Visas and More

or just google ' 500k investment US green card'
Investment is 1mill or more but 500k would do
as long as it generates full time jobs for some
US citizens for those 2 years...
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fin 10 years ago

If tax is a problem I'm guessing you're making a lot of money.

Just go to Hong Kong and register your company there for about a thousand bucks.

You don't have to pay tax on any income earned outside HK.

Pay yourself a wage as an employee of the company and your tax will be as low as you want it to be.
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Tom B

Banned 10 years ago

Originally Posted by Joshua P

Hmm guys wanna know a secret?

Just like the US ,even Canada taxes its citizens on worldwide income...as if we're working for them..heck tax is really taxing me mentally at least atm.

Greedy guberment.

From my understanding, if you don't live in Canada, aka resident, there is no taxes (in Canada).

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Joshua P

10 years ago

Originally Posted by Thomas Belknap

From my understanding, if you don't live in Canada, aka resident, there is no taxes (in Canada).

Nah as long as ia have a canadian citizenship
I am doomed .
Its the same as the US we have tax credits on worldwide income like someone else
Pointed out before (in case of US)

Lets say i would pay 10bucks as tax if i was in canada
If i went to australia I have to pay 7 bucks to Aus government.
I have to report that to canadian taxman
And pay the renaining 3 bucks to canada!

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Tom B

Banned 10 years ago

Originally Posted by Joshua P

Nah as long as ia have a canadian citizenship
I am doomed .
Its the same as the US we have tax credits on worldwide income like someone else
Pointed out before (in case of US)

Lets say i would pay 10bucks as tax if i was in canada
If i went to australia I have to pay 7 bucks to Aus government.
I have to report that to canadian taxman
And pay the renaining 3 bucks to canada!

Nope, I think you are wrong.

Taxation for Canadians travelling, living or working outside Canada - Travel.gc.ca

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whateverpedia

10 years ago

Originally Posted by Thomas Belknap

Still, do you think you should be taxed when not living and using the infrastructure you are paying taxes for?

That depends on where your citizenship lies. If you're still an American citizen, travelling on an American passport, then yes. If you renounce your citizenship and become a citizen of whatever country you're in, then obviously no.

Remember that American infrastructure extends to its embassies around the world. You can get help from any of them while you're overseas.

If you don't want to pay taxes because you live in another country, you can't expect any help from any of the embassies if you need it.

Fin above mentioned Hong Kong where you pay no taxes. That sounds all very well and good, but remember HK is part of China. If you got into any trouble with the local authorities I'm sure you'd want to have the US embassy/delegation help you out. That's one of the things your US taxes pay for while you're in HK.

So the question is, do you want to use your US passport and avail yourself of the assistance that the US embassies can provide you with, or would you prefer to go it alone?

These are things that seriously need to considered before making any move just to avoid paying tax.

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Tom B

Banned 10 years ago

Originally Posted by whateverpedia

That depends on where your citizenship lies. If you're still an American citizen, travelling on an American passport, then yes. If you renounce your citizenship and become a citizen of whatever country you're in, then obviously no.

Remember that American infrastructure extends to its embassies around the world. You can get help from any of them while you're overseas.

If you don't want to pay taxes because you live in another country, you can't expect any help from any of the embassies if you need it.

Fin above mentioned Hong Kong where you pay no taxes. That sounds all very well and good, but remeber HK is part of China now. If you got into any trouble with the local authorities I'm sure you'd want to have the US embassy/delegation help you out. That's one of the things your US taxes pay for while you're in HK.

So the question is, do you want to use your US passport and avail yourself of the assistance that the US embassies can provide you with, or would you prefer to go it alone?

These are things that seriously need to considered before making any move just to avoid paying tax.

We are talking about US citizenship or at least that was what I thought the OP was eluding too.

Most other countries don't make their citizens pay taxes while being a resident in another country. They still have embassies and such. Have you ever used an embassy? In all my time overseas, I think I walked into an embassy once and the service wasn't so good and it cost me MORE money. I have to pay for embassies through taxes and also fees incurred at the embassy.

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whateverpedia

10 years ago

Originally Posted by Thomas Belknap

I don't know Frank. You call it greed, I call it smart. I imagine you think companies relocating to "right to work" states are greedy as well.. or companies relocating to places where doing business is easier as disloyal.

I'd call all of what you described as Corporatism.

Originally Posted by Thomas Belknap

Most other countries don't make their citizens pay taxes while being a resident in another country.

Yes they do, that's why there are tax treaties in place. A resident is a very different thing to a citizen. If you want to retain your US citizenship, be prepared to pay taxes. Either that or renounce your US citizenship and become a citizen (not resident) of that country.

I honestly don't get the mindset.

I've never understood the mindset of people who believe that less government control means more freedom of the people.

Less government control means more corporate control. More corporate control means less freedom for people.

I'd take a good long hard look at these countries you refer to as being "easier to do business", many of which are third world countries and look at how well off their people are. In a lot of them corruption is rife, and the people have no rights.

Try exercising your "right to free speech" in one of those countries and see what happens to you.

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Tom B

Banned 10 years ago

Originally Posted by whateverpedia

Yes they do, that's why there are tax treaties in place. A resident is a very different thing to a citizen. If you want to retain your US citizenship, be prepared to pay taxes. Either that or renounce your US citizenship and become a citizen (not resident) of that country.

That makes no sense. If you are a non resident, in most countries, you are not paying taxes to your home country. That has nothing to do with paying taxes or not paying taxes in the country you are a resident in.

For example, if I pay less taxes in a country I am resident in, I pay the difference in US taxes. If I pay more as a resident, I don't pay US taxes.

Most other countries has taxation based on residency. I could pay nothing and still not pay taxes to my country of origin (unless I am a US citizen).

As far as I know, most countries are like that. Tax treaties are important when it comes to retaining residency in your home country (like resident in Canada or UK). So there would be tax implications if I was still a resident in Canada while working in Hong Kong. None if I was a non-resident in Canada and a full time resident in Hong Kong.

Only, in America, does being a non-resident at home still requires you to pay worldwide income.

So if the home country isn't collecting taxes, it isn't using those non taxes for embassies.

I've never understood the mindset of people who believe that less government control means more freedom of the people.

Less government control means more corporate control. More corporate control means less freedom for people.

There needs to be a balance. You can't allow total freedom for corps or they will abuse that in major ways. We have seen it time and time again.

With that said, if business is overly difficult because of more governmental controls, companies could go bankrupt or leave for better environments.

You have to remember we are competing on a global scale now. It isn't like we are competing locally here were we all have to deal with the same restrictions.

I'd take a good long hard look at these countries you refer to as being "easier to do business", many of which are third world countries and look at how well off their people are. In a lot of them corruption is rife, and the people have no rights.

UK, Ireland, Singapore, Hong Kong to name a few are not third world countries and the people are living pretty damn good lives.

Try exercising "your right to free speech" in one of these countries and see what happens to you.

You don't have freedom of speech here either. There are certain things you cannot do and the list is growing. I bet there isn't a law you didn't break every day. Hell, just being accused of a terrorist totally takes away any Constitutional rights afforded to citizens.

They can hold you indefinitely.

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whateverpedia

10 years ago

Originally Posted by Thomas Belknap

That makes no sense. If you are a non resident, in most countries, you are not paying taxes to your home country. That has nothing to do with paying taxes or not paying taxes in the country you are a resident in.

OK, a bit of a misunderstanding. When I mentioned that residents of a country do pay tax to their home country, I meant non-permanent residents. For permanent residents, of course its different.

I apologise for any confusion that caused.

Now, back to the discussion as I'm finding it fascinating, as I hope you are.

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Tom B

Banned 10 years ago

Originally Posted by whateverpedia

OK, a bit of a misunderstanding. When I mentioned that residents of a country do pay tax to their home country, I meant non-permanent residents. For permanent residents, of course its different.

I apologise for any confusion that caused.

Now, back to the discussion as I'm finding it fascinating, as I hope you are.

Yeah, I find this stuff interesting as well. Too bad this thread will probably get nuked. No need to apologise, for the most part, it's a good discussion.

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whateverpedia

10 years ago

Originally Posted by Thomas Belknap

UK, Ireland, Singapore, Hong Kong to name a few are not third world countries and the people are living pretty damn good lives.

The UK has seen better days, and is probably going to be the place where home-grown jihadists will develop.

Ireland was devastated by the GFC, and is still a long way off recovery, however I agree, the citizenry have it pretty good still.

Singapore is effectively a one party state though. Hong Kong, as a part of China, is a definite one party state. Still providing you conform to some pretty narrow principles, and are prepared to give up on some of the rights you're accustomed to, life is good.

Then again, life was pretty good for the Iraqi people prior to 2003. They were well educated, had a decent health system, were well fed and unemployment was virtually unknown. Of all the Arab nations, Iraq was probably the most advanced.

What you gain on the swings, you lose on the roundabouts I guess.

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Tom B

Banned 10 years ago

Originally Posted by whateverpedia

The UK has seen better days, and is probably going to be the place where home-grown jihadists will develop.

Ireland was devastated by the GFC, and is still a long way off recovery, however I agree, the citizenry have it pretty good still.

Singapore is effectively a one party state though. Hong Kong, as a part of China, is a definite one party state. Still providing you conform to some pretty narrow principles, and are prepared to give up on some of the rights you're accustomed to, life is good.

Then again, life was pretty good for the Iraqi people prior to 2003. They were well educated, had a decent health system, were well fed and unemployment was virtually unknown. Of all the Arab nations, Iraq was probably the most advanced.

What you gain on the swings, you lose on the roundabouts I guess.

Every place has it's positives and negatives. It really comes down fitting your personality and interests than anything else.

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positivenegative 10 years ago

Originally Posted by Thomas Belknap

Every place has it's positives and negatives.

Really! You mean I've got relatives elsewhere that I'm unaware of?
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seasoned

10 years ago

Originally Posted by Joshua P

I can become a US citizen in 2 years from now provided I pay at least $500k to the US economy...some might know how this works some might not.

I will be working from home as an internet marketer and stuff...but i think being in the US will help me immensely...

And yes my dad can pay and is willing to pay the amount if this helps in some way or many ways!

Currently im in canada and taxes here are very very high...i never fall ill and im not worried about healthcare so please dont come on me saying those taxes are for free healthcare

Is it worth it?
I would be able to conduct meetings and stuff with potential JV patrnes and whatnot...

You say i can do that in canada as well?
Well you know US is where the big or medium sized players are...i tell from my experience here..in the internet marketing circle.

So do you think its worth the $500k to get a US citizenship?

That will be a citizenship forever...so its pointless to just wait if its totally worth it.

Plus i can start some offline business there as well ...where else can i make more money offline than innUs provided other parameters are same?

Help required

You CAN do biz stuff in the US if you are a canadian citizen. You just can't setup a business in the US, etc... without getting "ON THE GRID".

And america actually has a relationship with canada that at least WAS growing. For one, americans can get a passport card that I guess allows them the same kind of passage a canadian would get, if going by car. Of course, marketers would probably get passports easily to go to canada in other ways.

Canada is prasctically next door to some parts of new york.

As for taxes, have you been watching the US? I guess not. There is talk of taxes even well exceeding 100%! You might wonder how that is possible. Well, disregarding inflation, there is the idea of going into IRAs and 401Ks and doing with they SPECIFICALLY said they would never do! TAKE that money! Never mind that inflation has done much of that already.

AND, OC was such a DISMAL failure that more and more people are ADMITTING there is a back dioor and claiming this is a cloward piven strategy! Basically, they create a demand, and specify it as a needed RIGHT! (DONE) THEN, they get acceptance of a plausible solution that is somewhat acceptable.(DONE) Then, they shoehorn a "fix" in that nobody would have agreed with.(they are working on it). This WON'T be good for the tax rate!

HECK, a large group of those that would SUPPOSEDLY benefit with OC aren't, because of a quirk in the law. The courts are fighting it out. Bear in mind that this law affects EVERYONE in the US. Some of the really poor get thrown into medicaid or medicare, but basically, if you make money, THEY WANT IT!

If I were you, I think I would wait before becoming a US citizen.

Steve

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Mark Singletary

10 years ago

Sounds like he's talking about this: EB-5 Immigrant Investor | USCIS

You won't be a citizen - you'll have a green card. You should start with research about the difference between the two along with requirements, benefits, etc.

Mark

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Joshua P

10 years ago

Originally Posted by Mark Singletary

Sounds like he's talking about this: EB-5 Immigrant Investor | USCIS

You won't be a citizen - you'll have a green card. You should start with research about the difference between the two along with requirements, benefits, etc.

Mark

Well yes but a green card holder benefits are all I need..sorry ive been using the word citizen so far...my ignorance.

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Mark Singletary

10 years ago

He won't be a citizen - he'll have a green card.

Mark

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Tom B

Banned 10 years ago

Originally Posted by Mark Singletary

He won't be a citizen - he'll have a green card.

Mark

Still taxed on worldwide income.

U.S. Citizens and Resident Aliens Abroad

If you are a U.S. citizen or resident alien, the rules for filing income, estate, and gift tax returns and paying estimated tax are generally the same whether you are in the United States or abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside.

I remember reading articles of people born outside of America but where considered Americans because of one parent. They never even set foot in American yet were suppose to pay taxes. It's the perfect pyramid scheme. I want to start my own country and whomever is born will automatically be a citizen and pay me taxes.

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fin

10 years ago

You don't pay taxes if you live outside the UK, but you pay $100 to get a letter stamped (that they didn't even print out) from a UK embassy.

They always get you somewhere lol

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whateverpedia

10 years ago

Here's some food for thought for you.

At the moment a lot of people are flooding into America by fair means and foul.

A lot of corporations are flooding out of America.

A lot of the countries that the corporations are moving to are the same ones that people are flooding out of.

Ever wonder why that dichotomy exists?

Also, take a look at the life expectancy for citizens of the countries that corporations are moving to.

As I said, some food for thought.

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fin

10 years ago

Originally Posted by whateverpedia

Here's some food for thought for you.

At the moment a lot of people are flooding into America by fair means and foul.

A lot of corporations are flooding out of America.

A lot of the countries that the corporations are moving to are the same ones that people are flooding out of.

Ever wonder why that dichotomy exists?

It would be interesting to learn more about this.

Do you have any examples?

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whateverpedia

10 years ago

Originally Posted by fin

It would be interesting to learn more about this.

Do you have any examples?

How about the obvious one - Mexico.

American corporations are moving there to take advantage of the cheap labour, while the cheap labour is moving to America.

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fin

10 years ago

Originally Posted by whateverpedia

How about the obvious one - Mexico.

American corporations are moving there to take advantage of the cheap labour, while the cheap labour is moving to America.

Maybe not the best example because Mexicans have been trying to sneak their way into the US forever.

I know people who go to Mexico for the quality of life, in safe places near the beach with as many taco stands as you can imagine

We're all internet marketers here (although I'm sure there are a few offliners), so you could argue someone making 5K per month and living in a safe, quality Mexican beach resort would have a MUCH higher quality of life than someone earning 5K in New York because of the price of living.

I agree with you about normal people messed around and some of it has to do with big corporations (even Amazon screws people over in the UK), but as internet marketers we're above all that because our money just drops out of the sky and magically appears in our bank accounts.

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whateverpedia 10 years ago

Originally Posted by fin

but as internet marketers we're above all that because our money just drops out of the sky and magically appears in our bank accounts.

You forgot to add "at the push of a button".
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yukon Banned 10 years ago

Originally Posted by whateverpedia

A lot of corporations are flooding out of America.

You might be exaggerating tax evasion with leaving a country, those are usually two different things.

Look at how the BIG US tech companies stash money in multiple countries, they're not there for the quality of life.
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- Tom B Banned 10 years ago
  
  Originally Posted by yukon
  
  Look at how the BIG US tech companies stash money in multiple countries, they're not there for the quality of life.
  
  The money stashed overseas is still taxable. It's only when they bring it back that taxes are paid.
  
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fin

10 years ago

It's pretty easy to pick out the people who don't have passports in threads like these

I don't know why so many people underestimate the quality of life in other countries.

I've been to the US and it's a great place, but most of the developed world is of similar standard.

Even some of the less developed countries have a similar quality of life if you make your living on the internet and don't have to live like a local or become a victim to corruption.

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Alex Blades

10 years ago

is it worth it being a US citizen?!?!

Will the Sun come out tomorrow?

Not sure where you get the 500k to become a citizen from, but if you don't want to pay taxes, move to Papua New Guinea.

The U.S has many advantages, especially when you make a ton of money. The more money you make here, the less it is taxed. If you're looking for loopholes move here, if you're looking to avoid paying taxes, go somewhere else.

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seasoned

10 years ago

Originally Posted by Alex Blades

Will the Sun come out tomorrow?

Not sure where you get the 500k to become a citizen from, but if you don't want to pay taxes, move to Papua New Guinea.

The U.S has many advantages, especially when you make a ton of money. The more money you make here, the less it is taxed. If you're looking for loopholes move here, if you're looking to avoid paying taxes, go somewhere else.

ACTUALLY, it could be argued here that the more money you make, the MORE it is taxed! The lowest tax rate is ZERO, for those that make UNDER a certain amount!!!!!!! The IRS CLAIMS 10%, but last I knew there were given deductions, etc... So hopefully it is still ZERO.

The HIGHEST is SUPPOSED to be 39.6% for those making OVER $457,600. AGAIN, some things could add onto it.

So NOPE! The tax rate goes UP as you make more! So WHY do people like Bill gates and Warren buffet pay such a low tax rate? Is it because they make more money? NOT REALLY! If you listen CLOSELY to warren buffet, even HE admits that isn't the case. Warren Buffet buys a LOT of companies, and he starts by buying LOADS of stock. And he deducts many things, like his JETS, because they are a BUSINESS EXPENSE. He runs NET JETS! In 1998, he bought the company: NetJets History: The history of fractional Aircraft Ownership ALSO, MANY of the companies pay him dividends that have a lower tax rate for EVERYONE! Of course, warren buffet got rich doing this, is still doing it, and created a company, berkshire hathway, to do it, so he might be one of the ones most affected by the lower tax rate.

Let's say that WB made $500,000 in his companies. I DOUBT he does, since he lives modestly, and doesn't need it. And let's say he took NO deductions! OK, that is $198000 in tax. With dividends, MOST pay 5%! But WB has a tax rate over 25%, so HIS dividend rate is 15%. Suppose he purchased $10,000,000 worth of stock, and gets a dividend averaging 4%. He probably has more, but iet;s say this is it. OK, he made $400000. His tax on THAT is $60000 SO, $900,000 income, and he paid $258000. That got the tax rate down below 29%! $1,300.000 income($20 million stock), $318000 tax= ~25% tax rate. You can bet that he has billions of dollars in stock though.

Steve

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Joshua P

10 years ago

Originally Posted by Alex Blades

Will the Sun come out tomorrow?

Not sure where you get the 500k to become a citizen from, but if you don't want to pay taxes, move to Papua New Guinea.

The U.S has many advantages, especially when you make a ton of money. The more money you make here, the less it is taxed. If you're looking for loopholes move here, if you're looking to avoid paying taxes, go somewhere else.

Hmm I thought the rich pay the most taxes at least in terms of the % , because they belong to the highest bracket..am I missing something?

No I want to pay taxes but the minimum I can whilst living in US ,possible?

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Alex Blades

10 years ago

NOBODY EVER LOVES a country with a government that gets more corrupt! Steve

This no such thing as a government that isn't corrupt. The good thing about our government, is that they don't force us to live here, we can always move to another country. Call a government corrupt in other parts of the world, and you're likely to get beheaded.

Many people complain about our government, and rightfully so, but it's one of the best in the world. Now if you hate the government because your political party is not in power, than your complaints come off as sours grapes.

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seasoned

10 years ago

Originally Posted by Alex Blades

This no such thing as a government that isn't corrupt. The good thing about our government, is that they don't force us to live here, we can always move to another country. Call a government corrupt in other parts of the world, and you're likely to get beheaded.

Many people complain about our government, and rightfully so, but it's one of the best in the world. Now if you hate the government because your political party is not in power, than your complaints come off as sours grapes.

Yeah, well NOW, the US government is making lots of laws to take things from people if they are allowed to leave, and may hold them here if there is a tax issue, Some tax issues are made up, and/or the people aren't even told about.

Steve

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bizgrower

10 years ago

Other reasons corporations leave the USA are because of the tariffs and/or environmental laws in certain industries. And, also why manufacturing in the USA will probably not ever come back to what it
once was.

I once looked into starting a clothing manufacturing business, and it is darn near impossible to start one now in the USA. (Glenn Beck's made in the USA clothing is very expensive AND manufactured by contract or license by a long time USA manufacturer.) Imagine trying to start a business that would have to use really harsh chemicals or metals.

<><><><><><><><><><>

Back to OP:

As Mike Singletary pointed out, the $500,000 figure likely comes from this type of VISA:

EB-5 Immigrant Investor | USCIS

There may be huge USA tax advantages and disadvantages to this type of VISA. My hotel owner may be here on this type of VISA. A previous manager, whose word I take with a huge grain of salt, contended that he has no US income tax to pay - a plus for him. The minus is that he would not be eligible for the large tax advantages (that used to be in place) for installing solar electricity and heat systems for our hotel.

As Lexy mentioned, and I know from my current employer and having worked in International Student Services while in college, you are dealing with very specialized areas of law and taxation.

Accordingly, you need to consult with a competent immigration attorney and a competent accountant. You might be able to find someone who has both needed professional legal and tax credentials. In the USA it might be someone who is a taxation attorney, or someone who is a JD (Juris Doctorate aka law degree), and CPA (Certified Public Accountant). I don't know the Canadian equivalents. Regardless, make sure they have at least several years professional experience helping people do EXACTLY what you want to do.

There are numerous types of VISAs and expiration time frames. There might be another type of VISA,
or citizenship options, better suited for your unique situation and plans.

Dan

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hardraysnight

10 years ago

it is not something i have ever had a need for, or even looked into, although i have given thought to UK citizenship, but rapidly lose interest when david cameron wears hid 'invade' hat

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is it worth it being a US citizen?!?!

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