I have a friend who makes $50,000.00 per year as an assistant store manager. He brings home $25,000.00 per year. Over half goes to the condo mortgage.
A house in rural Arkansas on 14.5 acres of land near a lake costs $40,000.00. See house below.
To register a corporation in Liberia costs $1,000.00 and fees of little per year. To qualify as a non-resident corporation in Douglas, Isle of Man where non-resident corporations pay no tax means one must have a corporation outside Great Britain. There is zero interest payable on deposits of less than 100. million pounds sterling. Oh well.
To work and save money for a house, the cash goinginto a non-taxable acct. means it would be prudent to work in a place where taxes are low and where one might deposit cash til the house is paid in one fell swoop, or, if one were to find a place to work for $50,000.00 per year one could conceivably pay it off in two years. Such a place? Saudi Arabia.
The Muslim world takes from us without giving back anything other than what we make for them and pay them for the privilege of making for them. We make possible the oil wealth the Saudis gain for the good luck of geology. Anything we take from them is to our benefit. It is to walk away from the strangling hand of government that takes 50% of ones income in taxes and that creates nothing in exchange.
Socialism is a strangling hand. Rather than pay for the privilege of choking to death over the course of alife time one might find it better to breathe free. One might wish to take a role in ones own private life and become the agent of ones destiny. An occasion for that would be to take Saudi Arabia from those worthless nomads and keep the place as an individual private enterprise. To invade it, to conquer it, to keep it by force, to make it a place of our own and to get rich, that is the letting go of the hand of socialism. We owe the Saudis a great deal. We should happily pay them the debt we owe. And for me, once it's paid, to live in a lovely house by the lake in Arkansas.
Vancouver, BC - This year, Canadians start working for themselves on June 19th. According to The Fraser Institute's annual Tax Freedom Day calculations, released today, Canadians worked until June 18th to pay the total tax bill imposed on them by all levels of government.
Tax Freedom Day arrives five days earlier than in 2005, when it fell on June 24.
The Fraser Institute calculates Tax Freedom Day to provide a simple reference point about the impact of government tax collection. The Institute has been researching the comprehensive tax burden on the average family in Canada and in each of the provinces since 1977.
In 2006, the average Canadian family (with two or more individuals) earned $79,396 in income and paid a total of $36,650 in taxes. The cash income of the average Canadian family increased by 4.2 percent ($3,172) between 2005 and 2006 (Table 4). This compares to a much smaller increase of 1.4 percent ($510) in the total tax bill of the average Canadian family.
The largest increase among the myriad taxes came in the form of income taxes—up $482 for the average Canadian family. Other notable increases were in property taxes ($145) and profit taxes ($114).