‘Wall St.’ flees NY for tax-free Fla.
The city’s hedge-fund executives are flying south — and it’s not for vacation. An increasing number of financial firms, especially private equity and hedge funds, are fed up with…
Don’t forget FOUR insidious taxes that you don’t see: (1) the inflation tax — the FED has destroyed 99%of the value of the dollar in the last three or four decades; (2) the gas tax — gets added into every product sold and into every capital good used to make products, or deliver them; (3) the corporate tax — corps don’t pay tax, people do, they just pass it on; and (4) the estate tax — that turns productive assets into legal fees and schemes to avoid it as opposed to capital investment that improves society’s wealth — say goodbye to the family farm or a families’ small business. I’d assert that (a) the true tax rate is incalculable because it’s so well hidden; (B) it crushes the poor and middle class; and (c) some years we pay more than 100% of an annual year’s earnings in taxes! The loss of purchasing power means real savings goes down DESPITE rising account balances!!!!!!!!!