Usain Bolts — From Britain’s New Tax Law

10 Replies to “Usain Bolts — From Britain’s New Tax Law”

1. That is crazy – the british claim to be able to tax a non-citizens income if all they do is compete there?

   Since April, foreign sports stars competing in Britain are liable for a top rate of income tax of 50 per cent but, controversially, the tax is charged not just on the money they earn in Britain but on a proportion of their worldwide sponsorship income.

   Soon people will have flags of convenience, just like ships!!

   A merchant ship is said to be flying a flag of convenience if it is registered in a country different to that of its owners “for purposes of reducing operating costs or avoiding government regulations”.[2] The closely-related term open registry is used to describe an organization that will register ships owned by foreign entities.

   I wonder what the tax code is like in Liberia!

2. It’s Pirate Radio all over again!! :)

3. Three interesting links.
   –
   Canadians of convenience
   –
   Birthright of Convenience
   –
   Citizenship for Sale
   –
   In any case, Cananda already sells citizenship – We have a special class of Immigrant Investors, entrepreneurs and self?employed persons

   Before China took over Hong Kong, many Hong Kong Chinese came over, recieved citizenship and then promptly returned to keep their business going. Often they would leave their Children here to attend Canadian schools…

4. Wow! Redmond, that is super interesting and horrible all at the same time… Money is the poison. (or the need of it leads to unethical practices)… I’m in Arizona right now for a doctorate program residency and many schools in the state are worried about enrollment because of the Arizona immigration law.. again, it’s the money…

5. Hey Maura

   What are you studying? I would be interested to know.

   With Regards to money, it is no poison, it is just a representation of our labour – it is a medium of exchange.

   As Ray puts it in his book Leave Us Alone – Have you read it yet?

   Money evolved out of the barter system.
   Money is nothing more than a medium of exchange. Indeed, the
   distinguishing characteristic of money is that it is specifically sought for purposes
   of re-exchanging.
   Ultimately money came about because humans, as Adam Smith noted, “have
   a natural tendency to truck, barter, and exchange.”
   This is so because trading makes the job of survival incalculably easier.

   Saying that “Money is the poison. (or the need of it leads to unethical practices” is like saying “Food is the poison. (or the need of it leads to unethical practices)”

   If we did not Paper(fiat)Money as we have it our societies today, we would simply use something else to represent value – the value that we create when we produce.
   Our current crop of governments have decided that they should have a monopoly on money creation – althought they never asked us if we wanted to trade with worthless pieces of paper, as opposed to something of true value.
   I have some friends who bring up the concept of the barter system – he is a 3D designer – I asked him how he would trade his work on a computer for litre of milk without some abstract medium of exchange. The barter system co-exists with money – people exchange goods all the time.
   If we were all farmers, all we would have to trade with each other would be food – and then my rendition of your statment would be true – food would be the poison.
   Which of course is an oxymoron.
   So when you hear someone say something like that, or make the suggestion that we should move beyond money, into a system where resources are allocated fairly by a central group, you should be very suspicious.
   As for the selling of Canadian residency or citizenship, as a Canadian I don’t have a problem with it, in fact I encourage people with financial resources to move here and invest in our country – if they are innovative, wish to invest, create jobs, etc. etc. I am all for it.
   We let people into our country for all sorts of ridiculous reasons, why shouldn’t their wealth be one of them?
   In fact at one point Canada had no Income tax, and it was sold as a reason for people to move here – now we are just another mixed economy, with a bloated state siphoning off as much as it can get.
   I want more capitalists here so they can vote out our taxes!

6. oops – I messed up the tags…

   too much Italics.

7. what?

   I did it again

8. As for the Arizona Immigration Law, I read it, there does not seem to be that much in it to object to.

   America needs a good guest worker program for low wage earners.

   Agricultural Guest Workers

   El Salvadoreans in Manitoba

   You had one before – The Bracero Program

   What I think is interesting is that the presure on undocumented Mexicans to leave the USA happened at the start of your last great depression.

   In the 1930s, during the Great Depression, over 500,000 Mexican Americans were deported or pressured to leave, during the Mexican Repatriation. There were thus fewer Mexican Americans available when labor demand returned with World War II.

9. ugh I can’t turn them off! Ray Help!

10. Speaking of England, do you realise that in 1974 they slapped a 98% tax on their top 750 000 earners?

    An increasing number of the mules seem to me to have become disheartened at the difficulty of creating and keeping enough wealth to live the life envisioned in youthful dreams. And correctly so: building lasting wealth is relatively easy when you keep 90%, but nearly impossible when you keep just 40%. And, if the trend now in motion continues in motion, the productive elements will soon be lucky to keep 30%.

    While even I can’t foresee things getting as bad as they did in Britain in 1974, when the top 750,000 wage earners were slapped with a tax rate of 98%, the steady build toward more regulations, more government, more tariffs, and more taxes in more sectors of the economy will affect a broader swath of the public and, in so doing, weigh even more heavily on the nation.

    Government Mules