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#31
05-16-2006, 12:17 PM
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Webmarshall is blocking the upload. If anyone wants me to email it to them let me know...
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#33
05-16-2006, 02:08 PM
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Quote:
Instructions: 1) Put in your salary 2) Put in $3300 per exemption 3) Put in your standard deduction 4) Put in your housing less $12,000 for the OLD system Caveats. it couild be terribly innacurate and i am not a tax accountant. Let me know if you see errors. Enjoy!
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#34
05-16-2006, 03:52 PM
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I wouldn't be surprised if enough people start renouncing their citizenship or hiding income (which is a lot easier to do when you're abroad) to the extent that the tax increase fails to bring in net additional revenue.
__________________
There has grown up in the minds of certain groups in this country the notion that because a man or corporation has made a profit out of the public for a number of years, the government and the courts are charged with the duty of guaranteeing such profit in the future, even in the face of changing circumstances and contrary to public interest. This strange doctrine is not supported by statute or common law. Neither individuals nor corporations have any right to come into court and ask that the clock of history be stopped, or turned back. - Life-Line, Robert A. Heinlein, 1939
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#35
05-16-2006, 03:57 PM
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If the IRS decides you renounced citizenship in order to avoid tax liability, they can continue to hold you liable for the taxes. It's a beautiful scame they have going.
__________________
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit. We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson It doesn't matter who you vote for, the government always gets in. -- Elizabeth May ???? Jan 20: Freedom for the Bill of Rights 1 2
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#36
05-16-2006, 04:02 PM
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For 7 years I think.
__________________
don’t cheat on my dreams BLAAAAHHHRG!
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#37
05-16-2006, 04:02 PM
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Quote:
__________________
don’t cheat on my dreams BLAAAAHHHRG!
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#39
05-16-2006, 04:27 PM
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Nice
__________________
don’t cheat on my dreams BLAAAAHHHRG!
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#40
05-16-2006, 04:50 PM
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I am still holding a glimmer of hope that the cost of living adjustment they describe will be significant for Bermuda, and offset this cost to some degree. The cost of rent here is at least 3 times what it would be in other expensive locations (NYC, London, etc.).
A more fair approach would have been to tie an assumed rent amount by income level. Say someone making 100K would have to pay $1,200 per month for rent, and someone making 200K would likely pay $2400 per month (numbers hypothetical). That amount would then be subject to tax so as to "equalize" tax liability with similiar earners in US (the supposed objective of this law). There would have been lots of complicating factors, like single filers vs those with dependents, but it would have been much more fair than this.
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