Comments by "Marvin Fine" (@torontovoice1) on "Taxes Are Going Up #NomadDad" video.

  1. Well I must say that was an excellent video. It really underscores your slogan to go where you are treated best. That was a great history lesson as well on the taxation in the United States, even though I'm not a US person. But I think the other point that you alluded to was the fact that the world is now in competition for people, Capital, expertise, and businesses in general. And I did hear talk of late that the oecd was trying to create a level playing Field with taxation and all the member countries so that people wouldn't shop around particularly large multinational corporations for tax advantages. Another point that a lot of people may not know about is the issue of repatriation of capital. For example I know Canada has a tax treaty with Barbados and they allow 100% repatriation of capital by paying a small amount of tax I think somewhere in the area 4%. It's no wonder that the major Banks in Canada are either there or in Bermuda or the Bahamas as their head office. But I think as time goes on, the world is going to become even more competitive. This pandemic really changed a lot of things particularly the number of people that have become digital nomads and realize that they could really work from anywhere. So I'm thinking that the countries are going to try to start taxing individuals that offshore work including call centers, back end processing etc. The other thing of course is that I find some politicians so dishonest in making all kinds of campaign promises to gullible people promising huge entitlements if you vote for them, realizing full well that those entitlements and all that free money has to come from somewhere. You also notice of late that inflation has been creeping up and that's what happens when you inject trillions of dollars into the economy and people want to spend it but the companies can't build cars because supply lines I've been broken and there are shortages of chips and other commodities. I also think something is going to happen with cryptocurrencies particularly as a result of the recent pipeline sabotage / Ransom demand paid by cryptocurrency to a country which likely does not have an extradition treaty with the Free world. It wasn't that long ago that the US clamp down on UBS in Switzerland and the created all that regulatory framework for banks all over the world, more or less ostracizing Americans from doing any banking other than the USA based on the onerous compliance requirements. Competition is a great thing, and the politicians need to realize that it's the money that belongs to the people that they're doling out, not their own personal slush fund. And when people believe that their tax money is being wasted they either try to avoid paying tax, move to other areas of the country, or just pack their suitcases and go somewhere else if their situation enables them to do that. But even the people that don't leave, they have been blessed with this competitive environment all over the world which will likely keep things in check for the foreseeable future. Great content!
    1