Fleeing the Tax Man

Sooooooo, what do you have to say about this?

You only get an intro and then you have to subscribe to read the rest. Without the "hard" data, I'm reserving judgment.

Yeah, I can only read the intro, too.

Good for them, I say. Personally, I recommend Going Galt, which I did in the summer of 2007, but if you want to keep working, it only makes sense to relocate somewhere that you get to work for yourself more, and less for the walletsuckers.

There are lots of nifty dodges, but the most fun one is just to chuck it all, walk away from that six-figure income, sell everything, and enjoy the ride. All the government giveaways don't give me as much heartburn as they would have two years ago.

Here's a complete article on the subject

http://www.google.com/hostednews/ap/article/ALeqM5gbSGwgkt5kGRSE894SPHnli8rSLwD9AVRNT02

Not only do wealthy individuals flee high tax states, businesses also relocate or build new factories in states that are more business friendly - not only with lower taxes but with less regulation.

Politicians don't seem to understand that people react to tax policies. Higher taxes rarely bring in the anticipated amount of revenue. In fact, when Bush lowered taxes the US treasury collected more money than before the tax cuts kicked in.

Wonder what's gonna happen when/if these "tax friendly" states find out they have to revoke that when enough big names bring their companies with them?

It's easy to have a fabulous lifestyle when you're super rich. As a non-super rich American, I chose a state with a high quality of life (parks, roads, good education, support for the arts, wildlife, etc.) for which I don't mind paying a little bit of taxes. Each to his own, I guess.

One of the most interesting aspects of politics throughout history is how many people want the fabulous advantages of living in a rich and powerful nation without paying for the privilege of it. Eventually enough people belief this that the nation falls.

Wanders off humming some Propellorheads.

Bollocks.

People move from place to place because of taxes all the time. There's no 'rich and powerful' about it. It's just good common sense.

For example, living in Ohio I pay sales tax, federal state and local income taxes and all the other assorted taxes this state has. I could live in Tennessee, and avoid paying a state income tax if I chose to. However, their sales tax is 4% higher on the dollar than the sales tax in Ohio. Therefore, my decision to live in Ohio is a meditated and conscious decision on my part; I'd rather pay a state income tax than get sucker punched every time I buy a Snickers bar. *shrug* People in my hometown, which is right on the Tennessee/Kentucky border usually drive the extra ten miles or so to avoid Tennessee sales tax; by the same token, people who work in the town in Kentucky opposite my hometown will look for housing in Tennessee because it's cheaper.

Isn't this just another aspect of "vote with your feet"? It would seem more logical to look for the states/locations in the middle, that manage to stay in the middle, and that still fit your lifestyle needs.

When I'm super rich I'm going to cheat on my taxums.

If I ever make a lot of money, the Government is more than welcome to its rightful share. I'd never be able to do any of this without roads or an education, or any of those other wonderful services our (vile, socialist) system provides.

Have you ever tried going to work without roads?

Its really hard and hurts my feet.

But cheating on your taxes is like baseball cars and hot dog pies.

Very American?

mscelina said:

Bollocks.

People move from place to place because of taxes all the time.

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And for all kinds of other reasons, not by any means necessarily financial. Wyoming is the least populated state in the nation, and a lot of people love the outdoors and the space, as just one for-instance. I have chosen to live in Alaska for much that reason, despite a variety of other less-favorable qualities of the place (climate, moose eating garden, Sarah Palin). If you have a ton of wealth, moving from one place to another becomes much easier, as well.

caw

Zoombie said:

Very American?

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Very human.