Who decided you should pay less on taxes than on food, clothing, and shelter combined? You? Someone from an anti-tax group? The folks in Somalia pay significantly less on taxes than on food, clothing, and shelter combined. Using that simplistic metric they must be far better off than Americans.
If you are a trend trader, you have to like that trend. Look, I'm all for low taxes. But as you approach zero, the rhetoric has to change. And to keep this on topic, my comments are not that I love taxes, but there is no way I'm moving to an island to escape avg effective tax rates that are approaching zero.
It's a matter of opinion, of course. But to characterize an expense that's *by far the largest* for the typical household as "insanely low" is absurd.
Certainly, it cannot be only one reason. The expanded question of this thread would be - even if you were not addicted and grown up with romantic nomade lifestyle admiration, raised on Hemingway, Paul Erdos (https://en.wikipedia.org/wiki/Paul_Erdős) and others, once you become a constantly successful trader it means you have equipped with a free mind, you are disciplined, balanced and courageous. At this point why not crossing 50 miles ocean line and land in the country where you can experience living among the people out of modern rushing, the sunset and sunrises in its primordial beauties, pure air, pure waters, while enjoying everything which modern civilization can offer with only 40 minutes flight? The tax-free benefit will save your time on feeling the forms, interacting with agencies and your capital, which you will be free to destinate to the charities of your choice?
You can have all this in Florida and more with a much higher quality of life. I still don't get the point of this thread. Have you been to Coconut Grove or Coral Gables? Seriously, take a visit.
First off, "insanely low" wasn't my quote. But if we're going to have an intelligent discussion on this you've got to show some basic intelligence. Your interpretation of the graph you linked to is a rookie mistake in understanding averages and what they mean. It doesn't show that taxes are the largest expense of a "typical household" at all! It does say that if you sum up all taxes paid by all Americans they exceed the sum of housing, clothing, and food for all Americans. That's a very different thing. Back to math basics, if I have 9 people making 10k a year and 1 making a million per year, it's completely innacurate to say that the typical person in that set made $109,000 per year. That's exactly the mistake you're making here. The richest 1% of Americans hold 38% of the wealth. Even if we had a 10% flat tax, that 1% would be paying far more in taxes than household costs. As one would expect, when you're make $30M a year you spend a tiny portion of that on food, clothes, and houses. And they would drown out the other 99% when preparing then graph you linked, even if the 99% paid far less in taxes than they do for household goods. Simple math. And in fact that's exactly the case, no way in hell that the "typical" American or even a tiny number of Americans pay more in taxes than rent, food, and clothes, that would be clear if you spent more than 5 minutes studying the tax code and had basic middle school math skills. Just look at your own tax bill, what was your ratio of taxes paid last year to money spent on housing, food, and clothes (assuming you don't still live with your parents)? Take a family of four with the two kids not paying any taxes, or the vast majority or retired folks, even more pronounced. The sad thing is that the folks who made that graphic up knew full well exactly what I just explained, and they purposely posed it the way they did to ensnare people like you into making yourself look like a fool by misinterpreting it in exactly the way you did. That's both intellectual dishonesty and pure manipulation based on an intelligence assymetry. How does that not make you pissed? You got suckered! That massive math error aside, if you did a multiple regression on actual taxes paid per capita for a country and the well-being of the citizens of that country you'd see a steeply sloped line with an r-squared of close to 100% That's no accident.
We lived in Coral Cable for three mon We lived in Coral Gables, when came from Europe. Our determination to move on island matured during this time. It is all depend of what are the qualities one appreciate in the life. The point is as the thread abd it is intresting to learb all opinions. For me Bahamas still be magic, even with all we passed here. And if more succesful traders will come here this place and its spiritual an human values will be preserved and bloom. While traders in exchange will have an unlimited freeedom, in the same time staying absolutely within so called civilized world.
Sorry, I stopped reading there. Please go back to my first post, and educate yourself about Tax Freedom Day, which gets later and later, decade after decade, despite the "insanely low" taxes in the US.
You stopped reading when I demonstrated that you lack a basic understanding of what a mathmatical average represents? (BTW, so called tax freedom day suffers from the exact same failure to understand what an average represents). Sorry, but I just can't in good conscience engage in a bottle of wits with an unarmed man.