Comments by "dlukton" (@dlukton) on "How to Plan for 70% Income Tax Rates" video.

  1. It's a mistake to conflate tax RATES with overall tax BURDEN.
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  2.  @financialprivacy4425  Escaping French taxes is as simple as packing one's bags and moving somewhere else. In the US, one has to renounce citizenship.
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  3. No guarantees; but it wouldn't happen suddenly... it would happen only after social spending (free stuff) had been increased to high levels for many years. The point being a resident there could see it coming... over a period of many years.... and have plenty of time to get out.
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  4.  @grapplerke  "tax burden has actually increased with the Trump administration". That is totally false. It is true that a small percentage of taxpayers will see their income tax burden increase because of the limit on SALT deductions; but the income tax burden has declined... over the last two years... for the vast majority of Americans. And that's even before getting into the issue of the reduced tax burden on corporations (under the 2017 tax act). Fully 100% of the tax burden imposed (by government) on corporations is born by individuals. Every penny of it. Similarly, all reductions in tax burdens on US corporations accrues to the benefit of INDIVIDUALS.
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  5. Japan manufactures... and exports.... far more than the US does. Japan finances most of its government debt internally, whereas the US relies to a large extent on foreigners to finance its debt (foreigners hold more than $6 trillion of US debt). The big question isn't so much about the debt per se; it's more about how much longer the US dollar will maintain its reserve currency status.
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  6.  @grapplerke  Given the tax burden as it is... currently in the US... I would not consider living in a foreign country. The question, however, is how much higher could the tax burden in the US potentially go (especially on an inflation-adjusted basis)...? There does exist a point where it would become too high for me. But we're not there yet.
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  7. Elizabeth Warren.... if she were POTUS.... would be completely unaffected by that.
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