How Puerto Rico Became a Tax Haven for the Super Rich
Governments should be competing for wealthy taxpayers. And as income sources become divorced from physical locations, they will be forced to do so more and more every year.I run venture backed businesses. Teams are distributed. So I count days across the world and do not pay taxes anywhere (i am not a US citizen so it is much easier). In the process my company and I benefit from low cost of capital raised in silicon valley, low cost of excellent talent hired in russia, my personal expanded social network in markets in Asia. And it easily pays for itself just in terms of not needing to pay any taxes anywhere.It just makes sense to live this way once you have high income, are building something that is not physically in one location, understand how to be healthy/social/etc while living in many places.the current tax system has no future. the fundamental reason is that there is simply no point for anyone to pay crazy taxes. the United States (or any other country) just do not deliver enough marginal value from being there for more than X days per year to pay an extra 20-40% in taxes.to help your community – donate to things you care about and add value for other people that way. i want health research to benefit. it makes much more sense to donate/invest there, than to send the fruits of my work to the NSA to fund them to spy on me.i hope more and more people do this.