For now we have a variant of a stupidly low capital tax in Sweden (ISK/KF) where you just pay a percentage of your account proportional to interest rates every quarter (i.e. presently capped to a floor of 0.375% annualized, almost nothing), although it's itching among the left to change this. Also, it's fine doing trading in such accounts, although types of instruments are somewhat restricted. Denmark has much higher taxation. Don't know about Norway/Finland.
lol? We were way more socialist in the 70s and even in the 90s compared to the past two decades of right wing and last seven years effectively liberal rule. GDP has been growing respectably until flattening in about 2010, GNI has continued rising in line with neighboring countries. However, because we had a lot of recent immigration from poor countries GDP/capita hasn't kept up, we currently have a lot of first gen immigrants that will never have anything other than low wage jobs (if any). It's expensive saving the world by bringing it here.
ehh, First - to your answer to d08 - "let them eat cake" - it's a false statement, Marie Antoinette didn't say that. But how would you know ? All lefties love that statement... And if you are a fan of French revolution - then, we really have nothing to talk about. About bla bla - yes, there is no point to discuss with socialists. It is just wasted time. But especially for you I make an exception (for a moment). So about arguments (or precisely lack of them): 1. What has global GDP to the topic ? Nothing. The topic was about a person wanted to make business in some country, here and NOW. So talk about the topic. About how easily is to make business, what are the taxes, what is the level of life etc... 2. Singapore and chewing gum - and why not talk about the level of living there ? taxes ? health care ? Nooo, it's better to try to spot light on chewing gum ;] Because if we turn out to other aspects it would contradict your statement and beliefs 3. UAE - same as above. Btw: I see you like to absorb media propaganda. Go, see and then discuss. 4. Georgia, Romania etc. - you are (like each socialist) messing up cause and effect. The countries that are very rich now were free from socialist cancer, and that's why those are rich now. And a lot of them started to redistribute the wealth, which cause them many troubles. And countries mentioned are on their very good way to become rich (as rich as possible in their situation, both geographical and thinking about resources). And it is because they go the way of low taxes and low regulation and almost no socialism. 5. Yes, I were in many countries, as I also have friends in many places. And I prefer countries like those above more than very developed countries like Germany, Netherlands, Scandinavia etc. You know why ? Because I'm a free man, who want to live as free man and took responsibility for his own life. I don't need the government or some clerks or anyone to "take care" of me and I want their hands off of my money, because I know best how to spend it. Same with giving it to other people. I help who I want to help, and I give to whom I want to, not to anyone. People need to THINK and take responsibility for their lives. In other case you want to make them a herd of cattle. 6. About Romania and taxes - same problem in discussion, you picked up VAT, ok - let's pick up income tax for small businesses. Revenue up to 1 m EUR, 3% tax, 1% if you are hiring someone. So, bad for developing a business ? Ok, dividend - 5 %. I understand it's high taxation ? Capital gains tax - not existing. But I understand it's high ? 7. Talking about Somalia and picking it up by you would be like me picking up CCCP for your side of discussion. But I'm not that dump, so you don't be either. 8. "I can't imagine a more asinine argument than the idea that we should go back to the way things were 200 years ago because growth was higher then." - another typical leftie try. It's weird you can't imagine that kind of argument, as it's your argument, not mine. So don't try to make impression that it was my argument. 9. About the chart - yes, it's all thanks to taxes and social programs ! Except no, it's not... You know any studies about the impact of technological jump on GDP growth and average people wealth ? Naaah, it's thanks to taxes ! ... 10. "my little company has blown away Google and Apple in year over year growth for the past 5 years, but that was a whole lot easier for me to accomplish than them and certainly doesn't mean I have a better way of doing things than they do.". And maybe you have ? Those companies, are incredibly ineffective, and their position is not due to "fair free market". it's because of their capital position (which is pumping a lot by empty dollars), impact on regulators and politicians. It's another long topic. I talked a lot with lefties and socialists, and there is only one conclusion - there is no point to discuss. No matter what data I will show you, or how easily and logically I can deconstruct all your arguments and pseudo-arguments (like here), you won't get it. I'm sure you will even contradict historical facts (yes, that is also standard in discussion like that). So I don't care if you call me embarrassing or anything other. I won't waste more of my time on that discussion, so that's my last post in this exchange. As I have much better things to do
The word "apocryphal" that I used to describe the quote means something that is commonly attributed incorrectly. So yes, I know that she didn't say that, I explicitly said that she didn't say that. Seriously, you're embarrassing yourself with your ignorance here dude. I'm sorry, but I was responding to your post where you said "And the truth is that countries with minimal taxes and a lot of freedom were the fastest growing countries and are the fastest growing countries now." But you are one of the only people in the world who not only doesn't measure a country's growth by GDP but thinks it an irrelevant measure? In favor of some nebulous "how easily is to make business, what are the taxes, what is the level of life"? Again you're embarrassing yourself, you made an assertion that was flat out wrong about how fast countries are growing. Attempting to pretend that was never what you were talking about is pathetically transparent when we can all just go read what you wrote! And again, I didn't choose to talk about "a lot of freedom", you did! But now rules so intrusive that they cover chewing gum and who you have sex with are to be ignored, apparently some kind of propaganda? Oh, in those places tax levels are important, in other places freedom? Or just forget you said the whole freedom thing? Seriously? At this point it's clear I'm talking to a serious Dunning Kruger case. "No matter what data I will show you"? What data! You can't even keep straight what you said one post ago, let alone post any data. I've actually started and run two successful businesses, and I've found that taxes are one of the least impactful parts of business success, with regulation not even an afterthought. Far more important is access to an educated workforce, a good infrastructure, accessibility of healthcare for my employees and their families, security provided by police and fire, state funding that supports R&D and the universities that do the basic research that is too early for private capital where much of the early technological breakthroughs come from, citizens who are happy and not striking or rioting because of massive income disparities (well we're almost to that part)....all things I happily pay taxes for. Not to mention all the benefits I had from those things growing up that put me in a position to be successful; unlike you I don't have the hubris to believe I achieved what I have simply because I "took responsibility for my own life". Taxes and regulations don't improve economies by themselves, no one every claimed they did. They do allow for socializing costs of huge things that do enable economies and providing stability, something you understand if you've actually participated in an economy in a position outside that of solo worker. About that, I'm curious about your experience running businesses and why you found these things unimportant but taxes more important than everything? Or are you lecturing me on what's important to starting and growing a business without ever actually having done so on any kind of scale, then telling me I'm the socialist Marxist despite my success doing the very thing this thread is about? That's practically the definition of Dunning Kruger my friend, and the fact that you aren't embarrassed by your repeated displays of ignorance just reinforces the fact.
I noticed you didn't reply to @destriero here: https://www.elitetrader.com/et/posts/5482222 Yeah I'm going to go ahead and call you out on bullshit for the bolded above. Post links to proof. I'll bet some or all of the following are true: you don't reside in Cyprus, don't trade thru a wholly owned Cypriot legal entity, nor do you utilize a Cypriot broker, and you don't trade companies with majority of it's holdings in Cypriot real estate. Making your statement incorrect and you full of shit.
They’re taxed by the place where your trading entity sits while you’re in Portugal. Malta based maybe and pays your dividends from there, which don’t get taxed by either place? But this is mostly for non-US persons, not US ones. For the US, maybe move to PR?