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 So here's
what happens next. The engineer probably doesn't spend
anywhere near what he earns. He incorporates in a low tax jurisdiction,
has his fees paid to that corporation, takes out $18,000 / annum.
To the extent any of that is illegal, he ignores the law and does it
anyway. He's an intelligent man and gets good legal advice from a
foreign lawyer and has so many cut outs, dead ends and silly nonsense
in his paper trail that the risk is acceptable. he can do all this
without telling one lie.
I know. I'm the foreign lawyer. I used to do this regularly in Canada
for Europeans, but now my lawyer buddies (I'm retired) tell me they are
getting lots of American business.
The USA loses taxes and a pool of capital, both of which wind up in
Canada.
# posted by Anonymous Anonymous : 12/30/13, 9:50 AM
Posted in reply to the Obamacare
"Testimonial" post.
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Both money and people are tip toeing out of the US.
ReplyDeleteI've noticed that people who said a civil war would never happen again in the US kind of hem and haw around that subject now.
I am seriously thinking about cashing in all my stocks in 401 and leaving in cash. I know the market is going to tank - just a matter of when and how bad.
ReplyDeleteBolivar