Ferrari Mailing List: Re: NFC: Here comes BO's 10 % US National Sales tax

[LarryT (l02turner]

you wrote << (It's the same thing "High-net-worth" individuals CAN DO, and 
DO DO
   anytime a government becomes opressive w/ taxation - they LEAVE)>>

Found this - Congress wants to punish people who get tired of paying taxes 
and decide to leave.

<<For the purposes of this law, tax avoidance is presumed to be the true 
purpose if, at the time of expatriation, an expatriate's net worth exceeds 
US$552,000 or he or she pays an annual tax bill exceeding US$110,000, 
figures that are indexed for inflation annually. However, with proper 
planning, it is relatively easy to avoid U.S. taxes during this 10-year 
period.>>>

The full article can be found here 
http://www.escapeartist.com/efam/59/Taxes_OffshoreHaven.html

While congress wants everyone else's money they use the power of thsie 
office to make sure *they* get and *keep* a sinful amount of money for the 
work (and damage) they do.

LarryT


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----- Original Message ----- 
From: "Jim Conforti" <lndshrk [at] xmission.com>
To: "Larry Turner" <l02turner [at] comcast.net>
Cc: "The FerrariList" <ferrari [at] ferrarilist.com>
Sent: Thursday, May 28, 2009 4:41 PM
Subject: Re: [Ferrari] NFC: Here comes BO's 10 % US National Sales tax


> At 01:29 PM 5/28/2009, Mike Fleischer wrote:
>
>
> > Immense ammounts of
> > anger over what is clearly not in their control and never really was to
> > begin.
>
>   Really?
>
>   Well, here's something for you and yours to chew on.
>
>   (Well, besides the fact that not only is Fox News "still on the air"
>    but that their viewership has grown to the point that FOX has more
>    than double the viewers of MSNBC or CNN or HLN.  In fact, FOX has
>    more viewers than MSNBC and CNN **combined** - apparently a LOT of
>    people are: "conservative", "didn't vote for Obama" and, "are sick
>    and tired of the 'liberal' point of view in the MSM")
>
>   Back on topic....
>
>   First, the simple:  Basic Math and Economics.
>
>   The recovery from a recession requires people to SPEND.
>
>   (of course "lack of spending" is one of the defining points of 
> "recession")
>
>   If there is a 10% National Sales Tax, spending will be less, and
>   the "recovery" will take longer - if it happens at all.
>
>   That's basic economics - price of things goes up - less gets sold.
>
>   Less gets sold - revenue stream to business is less - less workers
>   getting paid less money - and the cycle goes roundy-round.
>
>   So ask yourself - why would someone (Obama) who supposedly is trying to
>   "bail" the country "out" of a recession do something that is virtually
>   guaranteed to cause the country to go deeper INTO the recession?
>
>   (File that under: "anachronism")
>
>   Now, the more complex.
>
>   I say "complex" because it's apparently something BASIC about businesses
>   and TAXES that the liberals don't seem to GET.
>
>   There is DAMN WELL something U.S. business owners CAN do to deal with
>   oppressive taxation - it's called move your production offshore.
>
>   (It's the same thing "High-net-worth" individuals CAN DO, and DO DO
>    anytime a government becomes opressive w/ taxation - they LEAVE)
>
>   Businesses are taxed on PROFITS. (and sometimes retained earnings)
>
>   If products are made in the USA - The business pays taxes on the
>   difference in value between what is essentially the component
>   value (plus the labor costs) and the sale price.  Plus that labor
>   cost for US employees is generally more than offshore.
>
>   If the products are made offshore and sold back to a US sales corp
>   at what is 90% of their US Sale Price - They pay tax on that 10%.
>
>   Depending on where the product is made - They will likely pay LESS
>   in labor costs - and in many countries NO taxes on the profits.
>
>   All that money sits offshore as retained earnings.
>
>   Congress and the IRS can pass all the goddamned "laws" and "regulations"
>   they want about it - and the countries gaining employment/etc will
>   CONTINUE to tell them to "f*** a duck".  Simply because THEIR prosperity
>   and continued survival is based on being a business haven.
>
>   Welcome to THE REAL WORLD - Mike.  Welcome to the GLOBAL REALITY.
>
>   Raise your taxes to pay for your social(istic) utopian nonsense.
>
>   Watch businesses extend their middle finger and move offshore.
>
>   Watch unemployment in the USA grow worse and worse.
>
>   Reality is a harsh mistress.
>
>   JC
>
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