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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 362.32

-1.8%

Nov 4 4:00 PM EST

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To: Riskmgmt who wrote (59390)	12/27/2009 11:56:43 AM
From: THE ANT	2 Recommendations Read Replies (1) of 217542

No,I live in another state in the US with 9% tax rate.Since I am a US citizen I must pay US and Brazil tax on any income or capital gains in Brazil.The US allows 100% credit of Brazil tax on this overseas income.The state does not.As Brazil capital gains tax is 25%(no Brazil State tax exists) it will cover 15% US capital gains tax and I will owe no tax to the Federal Govt.I still owe State 9% tax making my effective rate 34%.If you have no other choice you grin and bare it.My choice has been to make unrealized capital gains up until now rather than income.When the income starts I retire early and keep income within the bounds that are not highly taxed.That is why a US VAT tax or sales tax is on the way for the average American.I already pay 46-50% on my last dollar and work 70 hours a week.You have got to know when to quit.I am amazed at how many people are unable to change their old habits when their circumstances have changed.We must all be on gaurd to this.I spend my life slapping friends into reality.Most have been thankfull

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