I wish I was playing in a league where your advice would be applicable 😂 But I'm working on it! Started with real estate this year. Generational wealth is my goal!
Here is an idea, we as people all need to come together and protest these insane taxes and uncontrolled spending and printing that our governments do. Think trucker protest times a million.
Brazil is based on physical residence (monitored by SRF based on the 183-rule). So - if a brazilian citizen declares a non-resident status to SRF (brazilian IRS), spends less than 183 days per year in the country and does not have his/her main active source of income within the territory, then one is only taxable on investments / enterprises initiated domestically prior to the declaration being filed (no new activities can be contracted after becoming a non-resident for tax purposes, as they freeze the applicant's CPF / TIN for certain purposes; one would need to keep a mandated representative in the country in order to do that). Ownership of any offshore or inshore properties abroad does not even have to be declared to SRF while the non-resident status persists. Now no precautions are enough if one decides to move the opposite way (return to the tax resident status after a year or more). Book a call with a tax lawyer first, tax plan appropriately, then make the decision...
I wish i could leave in brazil one day but don t know about taxes.i went multiple times on vacation i love the culture..i am nomad digital.salim from paris
@@D33Lux, indeed. That might work, provided one keeps a low profile. Nowadays they can catch someone more through external signs of wealth than through a tax return declaration.
@@zz94400 , Brazil top layer for individuals (either employees or self employed) federal income tax levied annually is 27.5%, though some deductions can be applied, so at the end of the day it stays around 25%. Now one can reduce it even further to something around 15% through an individual company (or "micro empresa"). There are no official CBIs in Brazil, but there are ways to get residence permits as a skilled worker and/or as an investor. I trust Andrew can tell you more about it.
@@fabiogoncalves9728 thanks a lot fabio for all.hope to see you in Rio or sao Paulo.yeah i will contact for sure Andrew when my buissness will make 6 figure...
I live in an extremely high tax country, and It has never made any difference to me that the country I choose to live in has a high tax burden, because I am always able to find creative ways to find loopholes to not pay tax for offshore earnings and savings. I have found that nobody tells you about these loopholes, you sort of have to figure them out for yourself.
The Diaspora tax (which is only 2%) for Eritrean citizens is only imposed on those citizens who seek services from Eritrea, thus why many people who live abroad don’t pay it. If you’re a citizen who lives abroad and don’t plan on buying a house in Eritrea or seek other legal services afforded to Eritreans who live in the country, then you genuinely don’t need to pay it.
@@tayo1041 seeing that we’re talking about a “Diaspora” tax, not sure your comment has any merit to the topic at hand. I suggest you reference a dictionary if you don’t know what Diaspora means. 🤷🏽♀️
"Go where your treated best" is not about going to a country with low income taxes and shitty infastructure, but living in a medium or high tax country, finding the tax loopholes and living somewhere with good infastructure and social services.
I am curious how the tax system may affect those receiving pensions (government and private) from places like Canada. I was recently speaking with Revenue Canada explaiining that I am now in Mexico. The agent asked if I was no longer a resident of Canada (which he said would make a difference). However, I was left on hold for so long I gave up.
@@justinandrusco2395 Exactly correct, a tax lawyer will give you the right answers, calling in the govt' is a hit or miss, call enough times and you will get contradictory answers depending on the person on the phone. Can't trust anything they say over the phone!!!
Are you under a visiting 3 months status or you got a resident card? I am looking into the Yucatan myself or another possibility in SA. MX sounds good as a Canadian though.
@@Heidi_137 Latin America has so much variety of nations to move to, alot of people are moving down to escape the craziness of U.S.A. and Canada, and the cold weather.
Im proud to be one of the dudes of my generation who fucks the state really hard. Im also proud of my fellow companions who walk on a similiar path. We dont need to be centrally organised because we are the opposite of the sate. We dont need violence but just sound money and balls. Thats all you need to fuck the system really hard.
@@ST-ff7pf Get self-employed, just work for cash. For savings and retirement convert the bills as soon as possible into physical gold and bitcoin. If possible completely avoid FIAT and e.g. try to get paid in bitcoin. State will collapse without taxes and inflation ;-) Dont fight physically against the state(except self-defence), just live a capitalist life. Dont act crazy or irrational but rather try to be a role-model. Violence and force is the way of socialism.. Nothing of this is complicated or artificial stuff, its just straight common sense. Self-determined men 2000 years ago lived like that(well, there was no btc) and more and more ppl are living like this today. We are growing in numbers everyday. The more people adopt this lifestyle, the weaker the state becomes. Basically there are two efficient ways to destroy the state, use sound money and dont send your kids to governmental indoctrination camps(=public schools). If you must send your kids because scumbags will otherwise violently take away child custody, make sure that you dont lose the natural/spiritual connection to your offspring. If your kids dont listen to you or feel ashamed for their parents, thats a big problem. Teach them the thruth, the state is responsible for 90% of all evil in the world. Just imagine a life without wars, taxes, inflation and inhuman policies like covid BS. There will never be utopia on earth but a stateless society of self-determined people will get quite close to it.
@@SeverinLudwig ' If you must send your kids because scumbags will otherwise violently take away child custody' Just dont live somewhere that does this but be prepared in the future to fight more viciously than ever before..
@@madsgedanken6903 Its easy to leave your place if you are alone but if you have family it may not. Yes, red lines were crossed and its beyond the point of no return.
@@SeverinLudwig Well no one said this will be easy. I will very likely have to go to a completely different continent though I love travel and not against pioneering and would love to establish a new super-colony 'but if you have family it may not' If thats your thinking than pool your resources and monies together, buy land and setup an Autonomous Community and than work to enlarge it and eventually secede from the SYSTEM
Or you could just leave renounce and move to nation you are willing to pay taxes in, all legal, no breaking laws. Not many have the balls to start a life in another nation.
Before you buy a plane ticket and move all your stuff check the climate. Tbilisi Georgia gets 2046 hours of sunshine per year. That's cloudier than Seattle.
Just pay the exit tax and keep it in a bank or invested in property, etc. If they find out years from now that you didn't declare it all, they will come after you. He has a video about someone who they went after because they think he should have declared even more.
BESIDES the money aspect and going where you’re treated best, wouldn’t there also be where you’re feeling welcome not just by the tax situation but by the local people? For example, would they know that you got there by investment because you’re a foreigner or you don’t have to pay as much taxes would some of them feel like they don’t want you there. . Of course maybe you’re bringing something to the country but if you’re getting benefits like less taxes wouldn’t they be envious. Also for a single or solo person, are there countries that’s easier to meet people and I’m not talking about dating but just meeting people in general for a conversation and acquaintances and friends such as when I used to live overseas I would be in about a half a dozen meet up groups some for hiking, some for other interest groups and learning language groups.
Is there a catch in, say, countries that have low tax rates for foreigners? For instance, would they require you to spend a certain % of your annual revenue in that country or something?
Not necessarily. We covered one example here recently: th-cam.com/video/FKvzTokLa0I/w-d-xo.html We would be happy to serve you as a client and explain all of the programs. www.nomadcapitalist.com/apply/
How would the Australian Government know that I’ve bought property in Tbilisi, Georgia and am earning rental income from it? If there’s no tax treaty between the 2 countries then aren’t we sitting pretty?
If you're still making earnings while living in Australia as a citizen then yes, you'd be paying tax on it regardless of the country of origin or the means of income. Even if you have a foreign bank account where the money is going then you'll need to report that.
@@Solinvic one is supposed to report it. But if you don’t report it, and there’s no tax treaty between jurisdictions, then they’re never going to know.
It isn't the tax treaty you need to look at, it's CRS. Georgia is set to join in 2024, at which point your finances there will automatically be reported to Australia.
Crypto, cash, Precious metals all cannot be traced. I would never open up a bank account in a foreign nation, get paid in those three I mentioned above.
Hell, I want to consult with you but I'm not a 7 or 8 figure individual. Any references for the average guy wanting to leave America for the uk do to marriage to a UK citizen?
Im just a singl3 50 yr old [high 5 figure if working part time or 6 figure working all yr ]income wage earner so i need some other passport thats cheap. im quebecois and cree and probly had great grandparents from polish, german ukrainian and russian on dads side whats my best option? if my country didnt take close to half my income in various taxes i could actually retire before i die
If you are a real baller I could see going to Monaco and living off your yacht . But American citizens can form businesses, take massive reasonable deductions , then do pension and retirement planning , severely reduce their taxes corporate and personal and even escape state taxes by Florida residency or low tax / low property tax states. It’s the American way. You just need a great lawyer / accountant and pension person. You get to live in the United States 🇺🇸, travel abroad and send you kids to decent school and college and grad school. Why gamble to live in Eastern Europe / Asia or Mexico or central or South America. Do you need examples given the war in Ukraine of what can go wrong ? Dual citizenship with a country you love is great. But there is nothing like American citizenship if you have it. Especially if you are a Cubs fan.
You can also set up a series of trusts , like my great grandfather did in the 1920s to shelter income and preserve generational Wealth. Why live in a country you wouldn’t want to vacation in ?
ut real estatewhich you cannot move, especially commercial real estate makes you State blackmailable the rest of any ones live.....money can be shifted, services can be exported everywhere......you're home adres all the world, but real estate stay's always on the wrong place....
I enjoy most of your videos, but I do get annoyed that you seem to basically think that people, especially extremely wealthy and billionares, should basically pay zero taxes at all, where they live. But honestly, that doesn't really work. For instance, in the period after World War II, until the 1960s, the top rate of income tax was 90%, and until the 1980s, when Reagan came in and got tax reform in, ordinary people were doing well, and could even write off all their interest paid to credit cards, banks, loans, etc., plus the top rate charged in interest was capped at 7% because of usuary laws! But once Congress got rid of usuary laws and banks incorporated in Delaware, the interest rates cannot be written off by mere consumers, and it's crippled 80% of most Americans! But billionaires now pay no tax, because they aren't "paid" but receive their money due to the value of their stocks, and can pay 2% interest on a loan of a billion, to a bank, and never have to pay taxes at all! In the meantime, the rest of us mere mortals, are screwed by the system totally, and are having to pay high interest with no write-offs, have lower wages proportionately compared to the 1950s, 60s and 70s, and despite incredible improvements in productivity, seem have not seen increases in their earnings commensurate with their productive gains! And they are not able to thrive, because Wall St. gets all the profits from the workers' gains, and more billionaires get richer! This is not a system that can survive! So your idea that billionaires should live where they don't have to contribute to a country's tax system is good and fair, is reasly not a great idea. It really isn't. And it shows, especially in the US. But England and other countries, as well. When you moaned about a 7 or 9% flat rate tax on profits being introduced in Dubai, I began to question your whole premise! You seem to want to live where your billions are not touched, in order to avoid contributing to the place you choose to locate. Perhaps you need to rethink your premise. Though I still enjoy your videos!:-)
Here in norway the average person pays 33% when earning about $50k/year i think but taxes go up to 49% for the wealthier 9-5 people which arent even that wealthy. Then anytime you want to spend that already taxed money youre paying a variety of sales taxes then add ca 5% yearly inflation and basically youre losing half your money by the time you've spent it. Its insane but other than that Norway is alright for just living a normal life.
I would like to visit Tablisi Georgia as a prospect but Russia does make me wonder since they we’re invaded by Russia in 1985 ish and they are not a NATO nation?
I would think that if you move to a foreign country you could pretty much thumb your nose at the IRS because after all they don't have jurisdiction in foreign countries.
@@steveg6512 the idea is not to need to leave your new country. For me, that would be Japan. My few living friends are in Japan and none of them have the slightest desire to leave the safety of that country. Nor would I. As long as I can get citizenship there, why would I bother with the US?
@@basspig if you open an account with a bank outside the United states, most banks and other countries are required to report American citizens to the IRS because they’re supposed to file every year even if they don’t owe anything.
@@enjoyslearningandtravel7957 FATCA laws. I'm familiar with that. That's why foreign banks don't like to deal with Americans. Frankly, I wonder how the IRS can enforce collections on expats though.. it's not like they can send agents with guns to your house in Japan.
the great reset is a global issue, we are building infrastructure to be able to survive in canada and around the world. We need high quality skilled people. the alternative is transhumanism or death.
I wish I was playing in a league where your advice would be applicable 😂
But I'm working on it! Started with real estate this year.
Generational wealth is my goal!
Go for it!
@@nomadcapitalist 🙏🏻
Here is an idea, we as people all need to come together and protest these insane taxes and uncontrolled spending and printing that our governments do. Think trucker protest times a million.
Love the idea but it takes the sheep to join as well. The problem is only 42% pay federal taxes so the legal mooches like it that way.
Think canada stealing trucker's money times a million lol
Find Trudeau and YOU KNOW WHAT TO-DO!
‘We’ the people couldn’t even come together to stop forced lockdowns and mandated vaccines. Never gonna happen.
aannnddddd ..... your bank account is frozen
Why the hell should any human pay tax and interest on money produced from thin air by Central bankers?
Another great video! Territorial tax residency systems are the way to go
Brazil is based on physical residence (monitored by SRF based on the 183-rule). So - if a brazilian citizen declares a non-resident status to SRF (brazilian IRS), spends less than 183 days per year in the country and does not have his/her main active source of income within the territory, then one is only taxable on investments / enterprises initiated domestically prior to the declaration being filed (no new activities can be contracted after becoming a non-resident for tax purposes, as they freeze the applicant's CPF / TIN for certain purposes; one would need to keep a mandated representative in the country in order to do that). Ownership of any offshore or inshore properties abroad does not even have to be declared to SRF while the non-resident status persists. Now no precautions are enough if one decides to move the opposite way (return to the tax resident status after a year or more). Book a call with a tax lawyer first, tax plan appropriately, then make the decision...
I wish i could leave in brazil one day but don t know about taxes.i went multiple times on vacation i love the culture..i am nomad digital.salim from paris
Crypto's, cash and PM's can circumvent all the need to declare anything.
@@D33Lux, indeed. That might work, provided one keeps a low profile. Nowadays they can catch someone more through external signs of wealth than through a tax return declaration.
@@zz94400 , Brazil top layer for individuals (either employees or self employed) federal income tax levied annually is 27.5%, though some deductions can be applied, so at the end of the day it stays around 25%. Now one can reduce it even further to something around 15% through an individual company (or "micro empresa"). There are no official CBIs in Brazil, but there are ways to get residence permits as a skilled worker and/or as an investor. I trust Andrew can tell you more about it.
@@fabiogoncalves9728 thanks a lot fabio for all.hope to see you in Rio or sao Paulo.yeah i will contact for sure Andrew when my buissness will make 6 figure...
I live in an extremely high tax country, and It has never made any difference to me that the country I choose to live in has a high tax burden, because I am always able to find creative ways to find loopholes to not pay tax for offshore earnings and savings. I have found that nobody tells you about these loopholes, you sort of have to figure them out for yourself.
Where are you?
@@asparrow9876 France
Nevermind taxes, dont u want to get away from western culture/feminist shit?
Do you find them online?
Or you can ask an accountant
Andrew it’s not only America and Eritrea. Myanmar and Hungary also have citizenship based taxation.
Not to the same extent as the United States.
This was called “Residency and Source” when I was at university.
The Diaspora tax (which is only 2%) for Eritrean citizens is only imposed on those citizens who seek services from Eritrea, thus why many people who live abroad don’t pay it. If you’re a citizen who lives abroad and don’t plan on buying a house in Eritrea or seek other legal services afforded to Eritreans who live in the country, then you genuinely don’t need to pay it.
Most Eritreans aren't even allowed to leave the country
@@tayo1041 seeing that we’re talking about a “Diaspora” tax, not sure your comment has any merit to the topic at hand. I suggest you reference a dictionary if you don’t know what Diaspora means. 🤷🏽♀️
Many thanks for the video, Andrew.
Could you or your dad please discuss the tax implications for retiring in a low tax country ?
Have you been listen at all to Klass Shwab they had a meeting Friday go listen to it scary shit. Canada is turning into a shit hole
@@JD-gv4uz do you have a link, please?
"Go where your treated best" is not about going to a country with low income taxes and shitty infastructure, but living in a medium or high tax country, finding the tax loopholes and living somewhere with good infastructure and social services.
Thank you Andrew!!
You offer a good service. Well done!
I am curious how the tax system may affect those receiving pensions (government and private) from places like Canada. I was recently speaking with Revenue Canada explaiining that I am now in Mexico. The agent asked if I was no longer a resident of Canada (which he said would make a difference). However, I was left on hold for so long I gave up.
There will be tax withholding before it's paid out...possibly 25%, at least that's how rental income is treated as non resident
@@ST-ff7pf question for a canadian tax lawyer. They probably don't have the resources to come after you...unless you return to live in Canada
@@justinandrusco2395 Exactly correct, a tax lawyer will give you the right answers, calling in the govt' is a hit or miss, call enough times and you will get contradictory answers depending on the person on the phone. Can't trust anything they say over the phone!!!
Are you under a visiting 3 months status or you got a resident card? I am looking into the Yucatan myself or another possibility in SA. MX sounds good as a Canadian though.
@@Heidi_137 Latin America has so much variety of nations to move to, alot of people are moving down to escape the craziness of U.S.A. and Canada, and the cold weather.
Im proud to be one of the dudes of my generation who fucks the state really hard. Im also proud of my fellow companions who walk on a similiar path. We dont need to be centrally organised because we are the opposite of the sate. We dont need violence but just sound money and balls. Thats all you need to fuck the system really hard.
@@ST-ff7pf Get self-employed, just work for cash. For savings and retirement convert the bills as soon as possible into physical gold and bitcoin. If possible completely avoid FIAT and e.g. try to get paid in bitcoin. State will collapse without taxes and inflation ;-) Dont fight physically against the state(except self-defence), just live a capitalist life. Dont act crazy or irrational but rather try to be a role-model. Violence and force is the way of socialism.. Nothing of this is complicated or artificial stuff, its just straight common sense. Self-determined men 2000 years ago lived like that(well, there was no btc) and more and more ppl are living like this today. We are growing in numbers everyday. The more people adopt this lifestyle, the weaker the state becomes. Basically there are two efficient ways to destroy the state, use sound money and dont send your kids to governmental indoctrination camps(=public schools). If you must send your kids because scumbags will otherwise violently take away child custody, make sure that you dont lose the natural/spiritual connection to your offspring. If your kids dont listen to you or feel ashamed for their parents, thats a big problem. Teach them the thruth, the state is responsible for 90% of all evil in the world. Just imagine a life without wars, taxes, inflation and inhuman policies like covid BS. There will never be utopia on earth but a stateless society of self-determined people will get quite close to it.
@@SeverinLudwig ' If you must send your kids because scumbags will otherwise violently take away child custody'
Just dont live somewhere that does this but be prepared in the future to fight more viciously than ever before..
@@madsgedanken6903 Its easy to leave your place if you are alone but if you have family it may not. Yes, red lines were crossed and its beyond the point of no return.
@@SeverinLudwig
Well no one said this will be easy. I will very likely have to go to a completely different continent though I love travel and not against pioneering and would love to establish a new super-colony
'but if you have family it may not'
If thats your thinking than pool your resources and monies together, buy land and setup an Autonomous Community and than work to enlarge it and eventually secede from the SYSTEM
Or you could just leave renounce and move to nation you are willing to pay taxes in, all legal, no breaking laws. Not many have the balls to start a life in another nation.
*Sarcasm.* return to Canada 🇨🇦 as a a refugee. You’d be paid for being one and not pay taxes too.
Before you buy a plane ticket and move all your stuff check the climate. Tbilisi Georgia gets 2046 hours of sunshine per year. That's cloudier than Seattle.
The ExPat Croatian incentive to return, via setting a company…that’s a good idea. I forget the numbers on that but it could be a good move for some.
If you retire full time in Mexico, can you have your Canadian pensions transferred with you and pay on the Mexican tax rate instead of the Canadian?
No, Socialism wants your money even before you earn it.
Excellent information, even the peons are trying to figure there best next move. Changes are happening fast.
The very best way to do it is to open a business and go cash only for about 95% of your business... Or so a friend tells me.. LOL!!!
What are the main points to consider in the case of the Mexican tax system as a resident?
If I move to Guam, do I get the same benefits, as moving to Puerto Rico?
I live 80 miles north of Guam, in Saipan. Our tax system is more favorable than any US territory.
Can you do it for your children by not getting them a social insurance number and moving overseas?
Wonder if someone has a list of countries along with a general tax description of each. 🤔
PwC tax overviews. You're welcome.
Most accountants and bookkeepers don't know much about tax loopholes
Only the few that specialize in taxation planning
Which Scandinavia country don't let u go to dubai?
Andrew, if you expat from the USA, renouncing citizenship, where do you put your cash?
Wrapped BTC, Monero or ZCash
Just pay the exit tax and keep it in a bank or invested in property, etc.
If they find out years from now that you didn't declare it all, they will come after you. He has a video about someone who they went after because they think he should have declared even more.
@@fillername458 But if your never going back to that country then what can they do? Especially if your dual citizen or have residency elsewhere?
@@madsgedanken6903 A Russian guy found out the hard way.
They can still put out an international arrest warrant for tax evasion in the US.
@@fillername458 But if you have nothing to do with ZionSA than what can one expect?
Love your content, so needed today. Peace from Ottawa 🇨🇦
BESIDES the money aspect and going where you’re treated best, wouldn’t there also be where you’re feeling welcome not just by the tax situation but by the local people? For example, would they know that you got there by investment because you’re a foreigner or you don’t have to pay as much taxes would some of them feel like they don’t want you there. . Of course maybe you’re bringing something to the country but if you’re getting benefits like less taxes wouldn’t they be envious.
Also for a single or solo person, are there countries that’s easier to meet people and I’m not talking about dating but just meeting people in general for a conversation and acquaintances and friends such as when I used to live overseas I would be in about a half a dozen meet up groups some for hiking, some for other interest groups and learning language groups.
Is there a catch in, say, countries that have low tax rates for foreigners? For instance, would they require you to spend a certain % of your annual revenue in that country or something?
Not necessarily. We covered one example here recently:
th-cam.com/video/FKvzTokLa0I/w-d-xo.html
We would be happy to serve you as a client and explain all of the programs. www.nomadcapitalist.com/apply/
How would the Australian Government know that I’ve bought property in Tbilisi, Georgia and am earning rental income from it? If there’s no tax treaty between the 2 countries then aren’t we sitting pretty?
If you're still making earnings while living in Australia as a citizen then yes, you'd be paying tax on it regardless of the country of origin or the means of income. Even if you have a foreign bank account where the money is going then you'll need to report that.
@@Solinvic one is supposed to report it. But if you don’t report it, and there’s no tax treaty between jurisdictions, then they’re never going to know.
It isn't the tax treaty you need to look at, it's CRS. Georgia is set to join in 2024, at which point your finances there will automatically be reported to Australia.
Just leave Australia asap
Crypto, cash, Precious metals all cannot be traced. I would never open up a bank account in a foreign nation, get paid in those three I mentioned above.
Hell, I want to consult with you but I'm not a 7 or 8 figure individual. Any references for the average guy wanting to leave America for the uk do to marriage to a UK citizen?
Im just a singl3 50 yr old [high 5 figure if working part time or 6 figure working all yr ]income wage earner so i need some other passport thats cheap.
im quebecois and cree and probly had great grandparents from polish, german ukrainian and russian on dads side
whats my best option? if my country didnt take close to half my income in various taxes i could actually retire before i die
@nomad capitalist:what is the deal with the costa rica worldwide taxation scheme,instead of the territorial tax system that it has for decades!
If you are a real baller I could see going to Monaco and living off your yacht . But American citizens can form businesses, take massive reasonable deductions , then do pension and retirement planning , severely reduce their taxes corporate and personal and even escape state taxes by Florida residency or low tax / low property tax states. It’s the American way. You just need a great lawyer / accountant and pension person.
You get to live in the United States 🇺🇸, travel abroad and send you kids to decent school and college and grad school.
Why gamble to live in Eastern Europe / Asia or Mexico or central or South America. Do you need examples given the war in Ukraine of what can go wrong ?
Dual citizenship with a country you love is great. But there is nothing like American citizenship if you have it. Especially if you are a Cubs fan.
You can also set up a series of trusts , like my great grandfather did in the 1920s to shelter income and preserve generational
Wealth. Why live in a country you wouldn’t want to vacation in ?
ut real estatewhich you cannot move, especially commercial real estate makes you State blackmailable the rest of any ones live.....money can be shifted, services can be exported everywhere......you're home adres all the world, but real estate stay's always on the wrong place....
I enjoy most of your videos, but I do get annoyed that you seem to basically think that people, especially extremely wealthy and billionares, should basically pay zero taxes at all, where they live. But honestly, that doesn't really work. For instance, in the period after World War II, until the 1960s, the top rate of income tax was 90%, and until the 1980s, when Reagan came in and got tax reform in, ordinary people were doing well, and could even write off all their interest paid to credit cards, banks, loans, etc., plus the top rate charged in interest was capped at 7% because of usuary laws! But once Congress got rid of usuary laws and banks incorporated in Delaware, the interest rates cannot be written off by mere consumers, and it's crippled 80% of most Americans! But billionaires now pay no tax, because they aren't "paid" but receive their money due to the value of their stocks, and can pay 2% interest on a loan of a billion, to a bank, and never have to pay taxes at all! In the meantime, the rest of us mere mortals, are screwed by the system totally, and are having to pay high interest with no write-offs, have lower wages proportionately compared to the 1950s, 60s and 70s, and despite incredible improvements in productivity, seem have not seen increases in their earnings commensurate with their productive gains! And they are not able to thrive, because Wall St. gets all the profits from the workers' gains, and more billionaires get richer! This is not a system that can survive! So your idea that billionaires should live where they don't have to contribute to a country's tax system is good and fair, is reasly not a great idea. It really isn't. And it shows, especially in the US. But England and other countries, as well. When you moaned about a 7 or 9% flat rate tax on profits being introduced in Dubai, I began to question your whole premise! You seem to want to live where your billions are not touched, in order to avoid contributing to the place you choose to locate. Perhaps you need to rethink your premise. Though I still enjoy your videos!:-)
40 percent seems like extortion
Here in norway the average person pays 33% when earning about $50k/year i think but taxes go up to 49% for the wealthier 9-5 people which arent even that wealthy. Then anytime you want to spend that already taxed money youre paying a variety of sales taxes then add ca 5% yearly inflation and basically youre losing half your money by the time you've spent it. Its insane but other than that Norway is alright for just living a normal life.
The government needs your money for all the "free" stuff to buy votes with
Australia 4th highest tax country in the world, norway 3rd " Denmark second " Singapore 1st
I would like to visit Tablisi Georgia as a prospect but Russia does make me wonder since they we’re invaded by Russia in 1985 ish and they are not a NATO nation?
Just leave . I did
I would think that if you move to a foreign country you could pretty much thumb your nose at the IRS because after all they don't have jurisdiction in foreign countries.
All nice until you need to renew your passport or similar.
@@steveg6512 the idea is not to need to leave your new country. For me, that would be Japan. My few living friends are in Japan and none of them have the slightest desire to leave the safety of that country. Nor would I. As long as I can get citizenship there, why would I bother with the US?
@@basspig if you open an account with a bank outside the United states, most banks and other countries are required to report American citizens to the IRS because they’re supposed to file every year even if they don’t owe anything.
@@enjoyslearningandtravel7957 FATCA laws. I'm familiar with that. That's why foreign banks don't like to deal with Americans.
Frankly, I wonder how the IRS can enforce collections on expats though.. it's not like they can send agents with guns to your house in Japan.
A France présidentielle candidat tried to copy us tax sys
open door policy makes socialism win because immigrants like living for free
sounds scary
JUST UAE PASSPORT 🇦🇪
Bulgaria or Belgium: who wants a registration as resident in one of this 2 places can contact me.
the great reset is a global issue, we are building infrastructure to be able to survive in canada and around the world. We need high quality skilled people. the alternative is transhumanism or death.
Two to three hundred questions? Sounds complex. And expensive.
You look better without that beard
Tax evasion? The IRS needs to shut you down.
the IRS is bullshit
ADHD? You need to take your medication.
@nomad capitalist:what is the deal with the costa rica worldwide taxation scheme,instead of the territorial tax system that it has for decades!