Aren’t their tax rates much higher? People always love to compare marginal tax rates but don’t realize other countries don’t get all the deductions that we do. They actually pay the rates you see where we pay much less than those rates.
They live under the assumption that if they pay their fair share all of them will live a very good life, perhaps with free healthcare and whatnot. We haven’t surpassed the entitlement idea that if you are poor you need help and if you are rich…well…you also need help from the government. Name them deductions, subsidies, etc.
I repeat, where I came from, we had free healthcare, and if you want to buy a second home, go ahead, no asking for handouts of deductions, subsidies, depreciation. You pay taxes, or cheat them as anybody else, you deduct expenses as any other person, nothing about you being an investor or a landlord to get freebies. You are on your own, if your crop, or your housing project didn’t make it, see ya, go to cry somewhere else! Nanny government is not there for you!
That is back my country of origin. That’s all…
Oh, no voting for this or that proposition. You pay taxes to cover those costs, that’s all.
I call it a free market. Of some sorts.
Over-reaction. It will be fine. Unless they renounced their US citizenship, they still need to pay American taxes.
Moving for the Chinese food???
Then just move to San Jose. East Lake got you covered.
I know someone who is actually moving to New Zealand due to Trump…
Ok, this meets your min daily quota of mentioning that eatery. Kinda like, I gotta at least use Fab 7x7 at least once a day…
I heard that New Zealand is a beautiful place.
Auckland is full of Chinese.
A bit extreme, no??? If people just get off their arses and vote the right way next time, this storm should pass…
Peter Thiel too recently got his NZ citizenship.
Speaking of tragedies. My mail carrier just came by and picked up 2 packages from me. He was telling me his 401K is doing good. Then, I cautioned him and told him to check anything better, stocks, whatever. Then he proceeded to tell me one of his friends about to retire in 2008 suffered a heart attack when the crash happened. He was just about to receive his $ to go enjoy life but he was counting on his 401K to enjoy a better life. He lost $200K, and because of that, he suffered a heart attack. Didn’t have time to go enjoying his retirement.
I heard, the stock market still has 3 more years to go up. Somebody with a crystal ball told me.
I hope they’re leaving the Bay Area. That will bring prices down by a $100. Now just need another 30K people to go…
There will be more positive effects.
I had to go on 101S around 5pm yesterday… something that I had managed to avoid for many years.
I think I saw less traffic already!
The sky is falling. Quick, sell now before all the buyers eat Kiwis.
Don’t learn the bad habits of using anecdotes or bad statistics usually wrong denominator from Americans. For all we know, for any one of the heart attack case, there are 1000000 people enjoying their 401k.
Speaking of New Zealand…
Gosh, we here don’t think Asian people are responsible for rising house prices, right???
House prices have been climbing worldwide since money is de linked from gold. The incumbent always blame the most recent arrival. The biggest group of people migrating to other nations recently are the Chinese from China and Indians from India. Shouldn’t be surprised as they are the most populous nations. In terms of percentage of their nations, probably not much different from other nations. Given the turmoil in Middle East, we can blame the Arabs later… wait… are we already?
Why not? Shall I tell my mail carrier to tell me stories of people resuscitating after seeing the stock market rebounding?
He even didn’t know how much he has put in his 401K. And he was kind of heart broken when I told him about this nurse I contacted. She had been putting $15K a year in some deferred account for 8 years. 15x8= 120. She had $100K.
Then, she didn’t believe me when I told her we weren’t discounting taxes at 30% of the total. So, after taxes, she had $70K available, so she had been “investing” but losing $50K. And we are not done, we are not taking in consideration paying the 10% if she weren’t age 59 1/2 in case she wanted to close the account.
I like to tell those anecdotes, I hear them every week, people with lots of money in their 401Ks, but they didn’t know that up to 1/3 of it is in due taxes. They say “why?”…
Oh, the mail carrier told me this: I am not doing what my friend did, f’ it, I will keep putting my premiums, if I retire with lots of $, so be it. If I don’t, so be it. I congratulated him for having such a positive attitude. Of course, who wouldn’t, earning $42 an hour with 2 hours overtime every day.