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Politics : Libertarian Discussion Forum -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (2132)	3/11/1999 8:54:00 PM
From: The Street	Read Replies (1) \| Respond to of 13060

Agree on the privacy issue. Strongly disagree on the offshore accounts-- they are an integral part of wealth protection-- protecting your assets from lawsuits. Maybe if you have a net worth of over a mill you would be paranoid too....

To: MeDroogies who wrote (2132)	3/11/1999 11:39:00 PM
From: nuke44	Respond to of 13060

Just because we're paranoid doesn't mean they're not out to get us. (Or at least get to us by controlling our resources). I haven't moved any assets off shore (yet), but almost twenty five years ago, I acquired some real estate and a percentage of a business abroad, that has since moved out of the realm of the influence of the IRS by virtue of a change in government and an accompanying change in the new government's relationship to the U.S. Those assets were only of nominal value until about five years ago when I became majority owner of the business and the economy of this tiny sovereign nation boomed, due to discovery of off shore oil and a sudden increase in eco-tourism (sort of contradictory, huh?). I am considering making that country my home when I retire from my present career and intend to hold on to my investments even if I don't. To date I have reported all of my income to the IRS, domestic and otherwise, but depending on how invasive a Big Brother the federal government becomes over the next few years, that may come to an end. It may mean giving up my military pension, but I'm working on that. Even if it does, I may just go ahead and cut that umbilical too. It's ironic. I spent most of my life working for our government and now I'm considering emigrating because of it.