tag:blogger.com,1999:blog-19291338.post1151629906161993707..comments2023-10-22T15:52:50.770+05:30Comments on Court Jester: Government to conduct Economic Census, is this the precursor to new wealth taxes?Jack Pointhttp://www.blogger.com/profile/00324737814154929009noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-19291338.post-18102419732845783272013-10-24T11:38:42.636+05:302013-10-24T11:38:42.636+05:30US taxes citizens on their worldwide income. If y...US taxes citizens on their worldwide income. If you wish to renounce US citizenship assets over USD 500K will be taxed at 50%.<br /><br />See <a href="http://blogs.wsj.com/washwire/2012/05/18/tax-history-why-u-s-pursues-citizens-overseas/" rel="nofollow">http://blogs.wsj.com/washwire/2012/05/18/tax-history-why-u-s-pursues-citizens-overseas/</a><br /><br />US also managed to get all Swiss banks to disclose US citizen accounts, so much so no US citizen is accepted by Swiss Banks to open an account.<br /><br />see<br /><a href="http://www.forbes.com/sites/janetnovack/2012/06/21/latest-u-s-swiss-deal-makes-clear-no-hiding-cash-in-big-swiss-banks/" rel="nofollow">http://www.forbes.com/sites/janetnovack/2012/06/21/latest-u-s-swiss-deal-makes-clear-no-hiding-cash-in-big-swiss-banks/</a><br /><br />So far US corporations have managed avoid world wide taxation because of intense lobbying.<br />See<br /><a href="http://www.forbes.com/sites/timworstall/2013/07/03/us-corporations-only-paid-13-of-their-profits-in-federal-tax-apple-is-the-explanation-for-this/" rel="nofollow">http://www.forbes.com/sites/timworstall/2013/07/03/us-corporations-only-paid-13-of-their-profits-in-federal-tax-apple-is-the-explanation-for-this/</a><br /><br />So its just a matter of when, given US economic situ when corporations will be taxed worldwide.<br /><br />That mean its our guys too will follow suit given a lot of the ideas are picked up from the US.sbarrkumhttps://www.blogger.com/profile/05883150662027018076noreply@blogger.comtag:blogger.com,1999:blog-19291338.post-16309390253681468652013-10-23T18:50:03.769+05:302013-10-23T18:50:03.769+05:30There are several ways this can happen. There are ...There are several ways this can happen. There are legitimate businessmen who want to protect their assets, so accounts in Singapore, Jersey and the Cayman Islands are possibilities.<br /><br />http://www.thesundayleader.lk/2012/09/02/no-record-of-monies-in-swiss-banks-central-bank/<br /><br />Moving assets overseas or investing overseas because of diminishing opportunities at home is another form of capital flight. A number of companies now have overseas investments, in factories and businesses.Jack Pointhttps://www.blogger.com/profile/00324737814154929009noreply@blogger.comtag:blogger.com,1999:blog-19291338.post-8827579108216865332013-10-22T13:13:38.316+05:302013-10-22T13:13:38.316+05:30Unlike in the 1960's however, it is a lot easi...<i>Unlike in the 1960's however, it is a lot easier to move money out of the country, so expect another flight of capital.</i><br /><br />To where is the question. With the advent of draconian US laws and requirements that foreign banks comply and disclose assets and wire transfers etc, other governments too are piggy backing on those disclosures.<br /><br />So welcome to the world of big government. Read <a href="http://www.nakedcapitalism.com/" rel="nofollow">http://www.nakedcapitalism.com/</a> specially the links.<br /><br />Also Google "Pluto in Capricorn Government".<br />sbarrkumhttps://www.blogger.com/profile/05883150662027018076noreply@blogger.com