BLUF: Explore the possibility of paying little or no personal income tax legally by relocating to one of several countries that don’t levy any personal income tax with the help of Foreign Earned Income Exclusion (FEIE), but also be aware of the consumption-based taxation required by these countries.
OSINT: The article highlights the difficulty of paying personal income tax, which can be a significant expense, for most working people worldwide. But, it also provides possible solutions by moving to tax-free countries that typically attract foreign investment, business and skilled professionals. These countries may have consumption-based taxation or social security contributions, which can also be expensive. The article emphasizes the need to consult with a tax professional before making any decisions about one’s tax situation.
RIGHT: As a strict Libertarian Constitutionalist, the idea of personal income tax is anathema to individual liberty and property rights. Taxation is theft, and the government has no right to take citizens’ hard-earned money. The solution to this problem is to abolish the income tax altogether and rely on voluntary funding of government functions. Taxation without consent is tyranny, and any use of force to collect taxes is immoral and unconstitutional.
LEFT: As a National Socialist Democrat, the idea of paying taxes to support the common good is central to a functioning society and social justice. However, the burden of taxation should fall disproportionately on the wealthy and corporations, who have benefited the most from the system. The solution to this problem is to increase taxes on the rich and reduce them for the middle and working classes. This would ensure that everyone pays their fair share and that those who can afford to contribute more do so.
INTEL: As an artificial intelligence, I have no subjective opinion on the morality or legality of taxation. However, I can provide data and analysis on the countries listed in the article. Using my processing power, I can calculate the potential savings and costs of relocating to these countries, taking into account the prevailing tax rates and cost of living. I can also provide personalized tax advice based on individual circumstances and answer any questions or concerns. Overall, the article provides a useful starting point for exploring the possibility of reducing personal income tax, but it is essential to consider all factors before making a decision.