164 replies to this topic

[Rogerdodger]

French ‘Pigeons’ in Flutter Over Tax Rise
"The result in some cases would be a jump in the effective marginal tax rate to as high as 60 percent from 32 percent for investors and entrepreneurs selling out of a business.
“This is very dangerous because investors may not invest in new companies any more,” he said.
In an online statement of their objections, Les Pigeons said the measure amounted to the “breaking of dreams, an almost sadistic demotivation.”

Edited by Rogerdodger, 03 October 2012 - 09:22 PM.

[Rogerdodger]

Greece's Biggest Company Quits Country...

Coca Cola Hellenic (CCH) said on Thursday in announcing it will move to Switzerland and list its shares in London, dealing a blow to the debt-crippled Greek economy.
"This transaction makes clear business sense," chief executive Dimitris Lois told analysts in a conference call. An overwhelming majority of shareholders have already accepted moving a company which has long complained about Greek taxes.

Ostriches replied that taxes don't change behavior, and should be even higher.
Coke replied: "Goodbye."

Edited by Rogerdodger, 11 October 2012 - 10:46 PM.

[Rogerdodger]

When will we get a tax on stupid?

Denmark Dumps 'Fat Tax' After Food Prices Rise...
COPENHAGEN — Denmark said Saturday it would scrap a fat tax it introduced a little over a year ago in a world first, saying the measure was costly and failed to change Danes' eating habits.
"The fat tax and the extension of the chocolate tax -- the so-called sugar tax -- has been criticised for increasing prices for consumers, increasing companies' administrative costs and putting Danish jobs at risk," the Danish tax ministry said in a statement.
"At the same time it is believed that the fat tax has, to a lesser extent, contributed to Danes travelling across the border to make purchases," it added.
"Against this background, the government and the (far-left) Red Green Party have agreed to abolish the fat tax and cancel the planned sugar tax," the ministry said.
The fat tax has been levied on all products containing saturated fats -- from butter and milk to pizzas, oils, meats and pre-cooked foods -- in a costing system that Denmark's Confederation of Industries has described as a bureaucratic nightmare for producers and outlets.

[voltaire]

Atlas Shrugged in real time:

ESCAPE FROM NEW YORK: High-Taxing State Loses 3.4 Million Residents...
New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.

UPDATE: Kerry's Yacht In RI - Still Owes MA Taxes...
The wealthy Massachusetts resident was avoiding a six-figure sales tax bill by keeping the luxury yacht in Rhode Island, rather than Massachusetts.
The stern of the Isabel now bears the name of its home port — Nantucket — but it’s barely even visible.

What sort of country has different tax rates in different states?

That is absurd.

Are you one country or 50?

[voltaire]

Atlas Shrugged in real time:

ESCAPE FROM NEW YORK: High-Taxing State Loses 3.4 Million Residents...
New York State accounted for the biggest migration exodus of any state in the nation between 2000 and 2010, with 3.4 million residents leaving over that period, representing a loss of $45.6 billion in income.
Where are they escaping to? The Tax Foundation found that more than 600,000 New York residents moved to Florida over the decade – opting perhaps for the Sunshine State’s more lenient tax system – taking nearly $20 billion in adjusted growth income with them.

UPDATE: Kerry's Yacht In RI - Still Owes MA Taxes...
The wealthy Massachusetts resident was avoiding a six-figure sales tax bill by keeping the luxury yacht in Rhode Island, rather than Massachusetts.
The stern of the Isabel now bears the name of its home port — Nantucket — but it’s barely even visible.

What sort of country has different tax rates in different states?

That is absurd.

Are you one country or 50?

A game where nominal business HQ's shuffle from one state to another.

Eventually they all end in a state where the tax rate is 1%.

That state by volume just survives.

The rest of the country becomes a wasteland.

This is madness.

Isn't it?

[Rogerdodger]

Raise taxes on any activity that you want to discourage.
Like smoking.
Or business.
Welcome to Greece.

Wealthy Dump Assets Amid Worries About Going Over 'Cliff'
For many of the wealthy, 2012 is becoming a good year to sell.
They're worried about the "fiscal cliff," which is when tax cuts expire and spending cuts are set to go into effect at the end of the year.
Fearing an increase in capital gains and dividend taxes, many of the rich are unloading stocks, businesses and homes before the end of the year.
Wealth advisors say that with capital-gains taxes potentially going to 25 percent from 15 percent, and other possible increases in the dividend tax, estate tax and other taxes, many clients are selling now to save millions in taxes.

“Under almost any scenario, it makes sense to take the gains this year,” said Gregory Curtis, chairman and managing director of Greycourt & Co. “Clients aren’t selling willy nilly. But if they can and they have a huge gain, they’re selling now.”

Edited by Rogerdodger, 13 November 2012 - 10:21 AM.

[voltaire]

Roger You would be more aware of taxation in the US than I am. Do they have to reap capital gains by end of November to avoid increased rates or is it some other time?

[Rogerdodger]

FORBES
Do You Live In A Death Spiral State?
Don’t buy a house in a state where private sector workers are outnumbered by folks dependent on government.
Thinking about buying a house? Or a municipal bond? Be careful where you put your capital. Don’t put it in a state at high risk of a fiscal tailspin.
Eleven states make our list of danger spots for investors. They can look forward to a rising tax burden, deteriorating state finances and an exodus of employers. The list includes California, New York, Illinois and Ohio, along with some smaller states like New Mexico and Hawaii.
If your career takes you to Los Angeles or Chicago, don’t buy a house. Rent.

Edited by Rogerdodger, 04 December 2012 - 10:34 AM.

[Rogerdodger]

I can't get over all of the hypocrites who demand higher taxes but then avoid paying them.
I hope the boyz in Washington make it all retroactive.

TAX FEARS: WASH POST rushes to pay 2013 dividends -- NOW...

The media and education company said Friday that its dividend of $9.80 per share is payable Dec. 27 to shareholders of record as of Dec. 17. The payout is instead of regular quarterly dividends next year.

Edited by Rogerdodger, 08 December 2012 - 11:12 AM.

[voltaire]

So moving to a low tax situation is valid. That is why major US companies pay no tax anywhere. For those advocating moving to Texas etc, that is passe. Just move to a non tax country. Go to the Caymans or Lleichtenstein or Luxemburg etc or even Singapore. Eventually its a race to the bottom where minimum tax X volume wins.