The below was a full page ad that was in the NY Times. (As an aside each and every one of should get the NY Times and read it every day, and stop relaying on stupid snippets of news on the internet for your news)
I read this and it made me so mad that an idiot Republicans could think that they could frighten us into voting for Republicans. Besides my other business I also have an internet business that I could base out of any location in the world. That business currently makes for me about $180,000 a year. If I base that business in the Bahamas, I could make that entire money tax free if I was willing to give up my US Citizenship. I have thought about this and also a multitude of other locations of where I could live, but after considering everything, my US Citizenship and the rule of law that is available here, it is to valuable to give up, just to save a few tax dollars.
OK, I do not make ten million dollars a year like the guy below, but especially if I had that type of money, I would want safety and security first and I could care less about taxes at that point since his lifestyle is so frugal anyway.
Of course there is waste in our government and we will have to work hard to eliminate it, but there is no way that I could give up my US Citizenship and live overseas. The benefits of working in the system and improving USA is so much easier than to go give up on USA and go and live in some foreign country.
I have radical solutions to our problems in USA, and who knows, one day this may be the final solution:
1) Take the burden of healthcare off the citizens and our businesses and let the government provide healthcare for all of our citizens for free. Let the pay option be there also for people that do not want to wait for a procedure or to wait to see a physician.
2) Keep Social Security no matter what the burden. We must have this safety net for our elderly.
3) Reduce defense spending and increase the drones and other warfare technologies and reduce the defense spending by 50% over the next 10 years.
4) Bring in gun control and stop letting people buy fully automatic weapons as a start
5) Start a VAT (Value Added Tax)
6) Encourage Domestic Manufacturing - Not sure how, but we can give tax incentives for this.
7) Tax all income in just 2 flat tax rates of 10% and 25% and a 35% rate for everyone making over 1 million.
I think my ideas are a combination of both parties ideas. But these are solution to our problems, leaving USA is not the solution.
"Why this Fat Cat Likes Obama's Tax Plan" NORMAN LIZT
I certainly don't qualify for the Forbes 400 Richest Americans list, but it surely feels that way. With my income averaging close to eight figures annually for the past seven years and with personal expenditures comprising about 2% of such income(thereby qualifying me for a potential Forbes list of America's wealthiest tightwads), I have built a net worth far above anything to witch I ever aspired. I simply don't know how to spend money(nor do I enjoy doing so), having purchased only one residence (a condo) in the past 40 years, one used car in 25 years, and detest wasting my time shopping. My one passion, travel, accounts for about half my expenditures.
I find my work as a sole, private equity investor challenging and intellectually stimulating and especially enjoy mentoring and interacting with my small staff of trusted employees. My father long ago taught me that individuals are nothing more than custodians of their funds, ultimately to passed down to future generations, especially the less fortunate. I have taken this to heart and have aspired to a legacy goal of ultimately leaving $50 million to various charities. And with continued good fortune, perhaps higher.
My one significant regret (profoundly shared by my fiancee, Rachel Martin) is that my diligent and compulsive pursuit of my goals does not leave enough time to smell the rose. She wishes to travel more and she may very well achieve her wish! Assuming Barack Obama wins reelection and successfully achieves his redistributionist tax agenda ( with 39%+ marginal rates plus a 3.8% tax on investment income plus substantially high dividend and capital gains rates), I will find myself, when my high California taxes are added in, at a marginal rate of taxation well over 50%. This represents the crossing of an inviolate threshold to me and is entirely unacceptable. I realize paying taxes is a form of charitable giving in a sense, but if I'm the one that's doing the work and tendering the money, then I want to be the one who chooses the charity.
Consequently, should these tax laws go into effect, I probably will simply shutter my business and say my sweet farewells to half a dozen great employees (who are unlikely to equal their current remuneration elsewhere... if they are fortunate enough to get new jobs in this economy). I will then take my money and instead of productively employing it in venture capital, will stick it in short-term U>S. Treasuries, providing me with a moderately safe, extremely low-yielding investment on which the high tax rates are moot since there's virtually no income to tax.
And Rachel will get her dream come true, since I will finally be free of my compulsive financial pursuits, and health permitting we will live the luxurious lifestyle we both feel we deserve.
To the many charities which ultimately will have to settle for about half of what they could have received... my profound and deepest apologies. For the medical innovations which may be years delayed, the music which may never be performed, the shelter that might not be offered, I grieve. To Barack Obama, I say thank you... for freeing me form the yoke and bondage of my current endeavors and providing a new found freedom. I just hope, however, that there are not thousands and thousands of others in the same position as I am in... the multiplier effect on jobs, the economy and charitable giving could be devastating!
Norman Lizt
La Jolla, CA
PO Box 1423
