ezekiel's chariot - 張敦楷 (pjammer) wrote,
ezekiel's chariot - 張敦楷

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Death & Taxes

Well, today is Tax Day. Mailed out my returns on Friday, and got the postmark I needed. Still - it's a few grand down the bottomless pit of spending we call the U.S. budget.

Having earned most of my income overseas in 2000, I'm due a refund this year, so I should probably not be so cranky.

I remain amazed that Hong Kong offers no taxes on dividends or capital gains. My Mid-Levels flatmate (a French national) owns his own firm and pays himself a tiny salary (several thousand less than his secretary), drawing most of his compensation by way of profit distributions. Alas, U.S. citizens must report all investment income, so those of you seeking to start a You, Inc. in Hong Kong to capitalize on this wonderful loophole may want to rethink your travel plans - the loophole unavailable to holders of the blue-and-gold passports from the U.S. of A.

Few people realize that the U.S. is the only nation that demands its citizens pay taxes back home even if these citizens lived, worked and did business completely overseas. What insane sort of government can justify taxing people who are so obviously outside its economic and political borders?

Taxation without representation - didn't we overthrow the ruling powers the last time they tried to pull that stunt on its citizens? I'm not cranky because I'm paying too much taxes. I'm cranky because I'm paying taxes at all!

Revolt! Revolt! To the barricades!
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