Countries with zero income taxes
These Caribbean and Middle Eastern nations derive their revenue from other sources, including tourism and abundant natural resources.
MORE ON MSN MONEY
VIDEO ON MSN MONEY
Notice that 7 of these countries have a common factor.............OIL and GAS.
Exploration and drilling! hmmm any ideas?
WOW!!! The United Arab Emirates has a "per-capita income" of $49,000?? Why did they use the per-capita numbers and not, oh, say the percentages of each class?? I'll tell you why. There are a handful of families in this region that have more money than most people could ever spend in their entire lives. There are families in this region, that could single-handedly pay most of the debts in the entire world.
I'm not quoting any factual numbers here, but, I bet that more than 90% of the people in this area are very poor. VERY, VERY POOR.
Actually kyill, direct 'welfare' assitance payments make up a small percentage of Federal Spending. The vast majority of Federal Spending goes to so called 'entitelment programs', ie, Social Security, Medicare, Medicaid. THat's why no politician will touch it. Then comes Military, then Department/Agency spending (USDA, USFS, FDA, FAA, State, etc), then Foreign Aid (including military assitance, such as to Israel)....and then far, far down the list is direct welfare to fellow humans in need. When the Republican Congressional Leadership calls for 'immediate spending cuts!" I would respond, "OK Mr Burnt Siena Speaker, we're going to start by slashing Congressional salaries and benefits packages (including tanning booth). You people are going to work for a reasonabvle salary and you and your families will not be cared for by the taxpyers until you die."
The Capitol would be a ghost-town in 30 minutes. And how about we start our balanced-budget initiative by closing all the tax loopholes for wealthy people?
Gee the majority of these countries economies would FAIL without oil or gas to support them. The majority of these countries are also mainly Muslim. I find it funny how most right wing, tax hating, government is wasteful, NObama, etc. people hate Muslims. BTW how much do many of these countries charge on import fees? Funny that the Cayman islands are ALSO having economic problems. You would think with all that money they have sitting around it would magically create some jobs.
"In August, the British territory killed a plan to tax foreign workers' income shortly after proposing it in a last-ditch attempt to overcome budget shortfalls. The government backtracked on the plan after several industry associations voiced their opposition to the tax, saying it would lead to investor flight. Foreign workers make up about 50% of the islands' workforce."
Gee "investor flight" is that not the same BS rich people threaten to do here? Maybe all the countries of the world should say F*** YOU rich people and ALL raise taxes at the same time. It is all just one big stupid game that we could stop playing at any time since we only trade with other humans and not space aliens or anything out of our control.
The more a rich person makes the less there will be for others to make in our fixed system that we created and maintain. For one person to make 1000 times what others make 1000 people would have to give up 50% of what they earn for example, simple math. There is no way to fuel, feed, or supply exponential gain. Savings and investments must LOSE value overtime (fixed population) or we are FORCED to print out more and more money until the end of time.
There is a reason for friction and that is to prevent things from BREAKING the system. You cannot go as fast as you want or grow as large as you want, the universe imposes limits for very good reasons morons. Our economy needs to have these same types of limits OR ELSE. No chit they suck, but so does working for your sorry a$$es for slave wages until we die. Stop changing the f***ing laws to benefit only you. Some great leaders you a$$holes turned out to be, selfish and greedy. How about you stop outsourcing jobs while you are at it? All in the pursuit of even cheaper slave labor huh?
They don't mention the cost of living in any of these countries, nor other types of taxes some of them have. In most cases, the basic cost of living wipes out any gains from no income taxes.
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.