In other news (apolitical thread)...

[Mdot21]

I'm just a poor dirtfarmer that would take the billion and then happily pay my fair share of taxes and go about my life

take the money and move to Puerto Rico then ya don't have to pay those gay little pesky things called taxes- plus you still remain a US citizen. 

[FearlessF]

I sure would if

just need the if

[847badgerfan]

take the money and move to Puerto Rico then ya don't have to pay those gay little pesky things called taxes- plus you still remain a US citizen.

Is it the same for the VI's?

Puerto Rico is a mess.

[FearlessF]

maybe PR should raise taxes

[jgvol]

take the money and move to Puerto Rico then ya don't have to pay those gay little pesky things called taxes- plus you still remain a US citizen.

With a billion dollars, I'd gladly pax some taxes and live in a much less shitty place.

[FearlessF]

I'd guess I could find a decent spot there - I'd be spending a few days/weeks a year traveling anyway

[Cincydawg]

Income inside Puerto Rico is "tax free", sort of, but income outside PR is taxed normally.  You can't just move there and suddenly pay no Federal on income.

Move To Puerto Rico, Slash Your Taxes To Zero? Not Exactly

[Cincydawg]

If one really has a billion dollars invested in the US, say it's all in Berkshire Hathaway, one can simply borrow to meet ones spending needs and pay zero income tax.  

Yes, you'd pay around 8% interest, but BH averages 11% gains, so you're still increasing your net worth.

[utee94]

If one really has a billion dollars invested in the US, say it's all in Berkshire Hathaway, one can simply borrow to meet ones spending needs and pay zero income tax. 

Yes, you'd pay around 8% interest, but BH averages 11% gains, so you're still increasing your net worth.

Step 1, get a billion dollars.

Step 2, don't pay taxes.

[Cincydawg]

One can start doing this at around $50 million, though you would have to have somewhat modest annual spending targets.

[FearlessF]

I'm fairly modest

[FearlessF]

Income inside Puerto Rico is "tax free", sort of, but income outside PR is taxed normally.  You can't just move there and suddenly pay no Federal on income.

Move To Puerto Rico, Slash Your Taxes To Zero? Not Exactly

so, you cornsidered moving to PR before settling in Atlanta?

[Cincydawg]

No, we did not.  My wife basically choose ATL for me, and I went along.  It's a lot different from where I grew up in the 'burbs a few decades back.

I like it here too, I'm pretty flexible.  Having the park across the street is a deal maker.

[FearlessF]

great location for 3-day concerts!