THE EFFECTIVE USE OF INTERNATIONAL TAX FREE JURISDICTIONS.
Tax Laws around the world have now become confiscatory. In the U.S. ordinary income taxes peak at a level of 39.6%, this amount combined with social security taxes and state income taxes put the burden on the highly compensated, wealthy person or corporation at over the 50% level. Estate taxes are now maximised at 55%. The effective rates of tax in Europe are not significantly different.
As a consequence, wealth is seeking a more benign climate for wealth accumulation, protection from extremes of litigation and the long-term preservation of capital. Major news publications comment on this flight capital and infer that the volume of capital exodus is reaching significant proportions.
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