Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Wealth and Taxes

johnhcochrane.blogspot.com

Post reply on HN
Print view View original

51–52 of 52 posts

Re: Wealth and Taxes

#51

Post by whiteeyedwolf »

whiteeyedwolf wrote: post #2

Option one. $400,000 retirement. Purchase BTC, claim a loss after it moves down even 0.03% in most places of the world, move to bermuda, convert BTC to Bermudian dollar, pay 0% income and 0% federal tax. Purchase property, enjoy golf courses and beaches all day. Option two. $350,000 retirement. Go to Thailand, get a beach house, and live off the currency conversion rate, enjoy the beach. Option three. Personal favori…

The downvotes on this are pretty funny, the highlight? I'm relaxing on a beach, you are not XD

Re: Wealth and Taxes

#52

Post by [deleted] »

MuffinFlavored wrote: post #49
rayiner wrote: post #48

Earlier quoted context omitted.

Get married, have kids, and move to a low cost state. The median married couple with children in Iowa makes $79,000 a year, and in Minnesota it’s $91,000. As to health care, the large majority of Americans who aren’t eligible for Medicare get their health care through their employer. Median out of pocket costs for a family with employer provided insurance are around $7,700, which is affordable on those salaries, espe…

the 1% only earns 20% of the US taxable income yearly? I didn’t know that. When you say consumption tax, do you mean a VAT? What else? What percentage VAT do you see working in America? 10%? 15%? Somebody making $200k/yr pays ~$41k/yr in federal income taxes. To be more in line with European rates, how much more should they pay? Another $20k/yr? Double?

[deleted]
Post reply on HN