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Exit Tax: Leave Germany before your business gets big

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Re: Exit Tax: Leave Germany before your business gets big

#531

Post by ExoticPearTree »

exe34 wrote: post #465
shputil wrote: post #418

Earlier quoted context omitted.

It is quite funny how exactly the current amount of taxes being requested by the local government is magically "fair." Although, of course, if taxes were raised, I'm sure you would still call that "fair." And countries where taxes are lower...well, the citizens must be scamming their government, I guess?

> And countries where taxes are lower...well, the citizens must be scamming their government, I guess? Yes. The happiest countries have the highest taxes because they tax those able to contribute so that everybody has a decent standard of living. Who do you think works in local government? Aliens? It's the people who live there.

Wow. Can't wait for you to win the lottery and pay the government 80% of what you won in taxes and be happy about it.

Do you even know anyone poor? As in living off on less than $2-$5 a day? Or whatever the definition of poor is in your country? And if so, can you share here with the group why they're poor and continue being poor?

Re: Exit Tax: Leave Germany before your business gets big

#532

Post by FirmwareBurner »

bawana wrote: post #506
FirmwareBurner wrote: post #322

Earlier quoted context omitted.

All major German companies have been bleeding money and announcing layoffs like crazy in last years.

Not just Germany…it’s a worldwide contraction. The real economy is shrinking. The financial economy is the only one growing.1% of the world owns 43% of the assets. All the growth numbers you hear have nothing to do w real people. Here in the USA salaries adjusted for inflation have not risen.

True. The economic/GDP growth politicians love to keep bringing up has little to do with people's actual prosperity as most of that economic growth gets captured in the pockets of the top 1-10% with little trickle down.

That's why working class people are angry and feel broke despite the constant "line goes up" narrative.

Re: Exit Tax: Leave Germany before your business gets big

#533

Post by exe34 »

ExoticPearTree wrote: post #530
exe34 wrote: post #516

Earlier quoted context omitted.

> All people are greedy, not only rich ones, that’s human nature. An yet in the current discussion, only the rich get to profit from it. > However high taxes ensure that it’s becoming more difficult to become rich, and only rich can get richer. > Personally I think it’s better when more people can become rich, not fewer. They won't get rich without food, education and housing. They're barely surviving because the ric…

> They won't get rich without food, education and housing. They're barely surviving because the rich keep sucking any chance of building wealth out of them. When inequality is low, more people become rich. When it is as high as it is currently, more people remain poor. Actually you can. Nothing motivates you more than the lack of basic necessities. When you're poor, you have only one option: do whatever it takes to n…

> Actually you can. Nothing motivates you more than the lack of basic necessities. When you're poor, you have only one option: do whatever it takes to not be poor.

That's only true in rich people fantasies.

Re: Exit Tax: Leave Germany before your business gets big

#534

Post by exe34 »

nlitened wrote: post #520
exe34 wrote: post #516

Earlier quoted context omitted.

> All people are greedy, not only rich ones, that’s human nature. An yet in the current discussion, only the rich get to profit from it. > However high taxes ensure that it’s becoming more difficult to become rich, and only rich can get richer. > Personally I think it’s better when more people can become rich, not fewer. They won't get rich without food, education and housing. They're barely surviving because the ric…

> An yet in the current discussion, only the rich get to profit from it. In the current discussion, it’s about people who built their wealth from _zero_ by working overtime for years of sleepless nights, sacrificing their health and personal relationships — bootstrapping entrepreneurs. You kinda say: yay, fuck this greedy capitalist with taxes, we don’t want this kind who lift themselves from poverty through a lot of…

Try Scandinavia.

> Taxes this high is actual slavery.

I assume you're just being a drama queen now?

Re: Exit Tax: Leave Germany before your business gets big

#535

Post by rkomorn »

ExoticPearTree wrote: post #530
exe34 wrote: post #516

Earlier quoted context omitted.

> All people are greedy, not only rich ones, that’s human nature. An yet in the current discussion, only the rich get to profit from it. > However high taxes ensure that it’s becoming more difficult to become rich, and only rich can get richer. > Personally I think it’s better when more people can become rich, not fewer. They won't get rich without food, education and housing. They're barely surviving because the ric…

> They won't get rich without food, education and housing. They're barely surviving because the rich keep sucking any chance of building wealth out of them. When inequality is low, more people become rich. When it is as high as it is currently, more people remain poor. Actually you can. Nothing motivates you more than the lack of basic necessities. When you're poor, you have only one option: do whatever it takes to n…

> Rich people don't go robbing less rich people at night and that's how they get to be even richer.

You should look into who profits from wage theft. Spoiler alert: it's not poor people.

Re: Exit Tax: Leave Germany before your business gets big

#536

Post by exe34 »

ExoticPearTree wrote: post #531
exe34 wrote: post #465

Earlier quoted context omitted.

> And countries where taxes are lower...well, the citizens must be scamming their government, I guess? Yes. The happiest countries have the highest taxes because they tax those able to contribute so that everybody has a decent standard of living. Who do you think works in local government? Aliens? It's the people who live there.

Wow. Can't wait for you to win the lottery and pay the government 80% of what you won in taxes and be happy about it. Do you even know anyone poor? As in living off on less than $2-$5 a day? Or whatever the definition of poor is in your country? And if so, can you share here with the group why they're poor and continue being poor?

A quarter of children under 4 in the UK face hunger.

https://www.bbc.co.uk/news/articles/c8xeyx7x75eo

And corporate profits have never been higher. Number of billionaires has never been higher.

Re: Exit Tax: Leave Germany before your business gets big

#537

Post by ExpertAdvisor01 »

ExoticPearTree wrote: post #528
ExpertAdvisor01 wrote: post #222

Exit taxation on corporate level is in every EU country , because of the atad directives .

I was not aware of that, but just read through it and it is crazy. It basically makes your company a hostage of the country where you incorporated it. You cannot even move your company between member states without paying the exit tax. It is funny how the EU claims it is a single market but it is actually not. https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CEL... ^^^ The Anti-Tax Avoidance Directive. Jeez.

You can only defer the exit tax if you move within the eu . There is also atad 2 and atad 3 . The good thing about the us is that you have the concept of domicile . So you can redomicile your company without needing to liquidate it.

Re: Exit Tax: Leave Germany before your business gets big

#538

Post by CalRobert »

jwr wrote: post #521
CalRobert wrote: post #488

Earlier quoted context omitted.

It's not just the filing, the tax burden is heavy and complicated. You need to opt for one of three regimes, etc. https://accountinginsights.org/how-does-pfic-taxation-work-f... I live in Europe and contemplated writing a tool to analyze ETF holdings and buy the stocks individually with the IBKR API, but it's an expensive and error-prone approach.

There is also an amusing (?) catch-22: you could theoretically sign up with a US-based broker and buy through them, which would make you exempt from these requirements. But most US-based brokers and banks will not want you as a customer if you don't have a US address. And those that do (Charles Schwab International) will not sell you ETFs, because… you are "based" in the EU, which has information requirements for sel…

The shocked pikachu face at increases in people renouncing (despite them charging you $2300 for it) is really something.

Re: Exit Tax: Leave Germany before your business gets big

#540

Post by ExoticPearTree »

exe34 wrote: post #533
ExoticPearTree wrote: post #530

Earlier quoted context omitted.

> They won't get rich without food, education and housing. They're barely surviving because the rich keep sucking any chance of building wealth out of them. When inequality is low, more people become rich. When it is as high as it is currently, more people remain poor. Actually you can. Nothing motivates you more than the lack of basic necessities. When you're poor, you have only one option: do whatever it takes to n…

> Actually you can. Nothing motivates you more than the lack of basic necessities. When you're poor, you have only one option: do whatever it takes to not be poor. That's only true in rich people fantasies.

> That's only true in rich people fantasies.

I am not rich my any means. In today's definition of classes I guess I'm somewhere middle class with a chance of making it to upper middle class by the time I reach retirement age.

But, I grew up very poor (shoes with holes in them going to school type of poor) and that motivated me to do more, learn more and hopefully achieve more than my predecessors.

And for this reason I abhor all the "only the reach get richer and other's people misery is all their fault" mantra.

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