By: Nick Giambruno
Whenever I see the words “life-changing opportunity” or something like that, I immediately dismiss it as a lame gimmick or hyperbole.
And while I am truly reluctant to use those often misused words, I can honestly think of no better way to describe Puerto Rico’s tax incentives for traders, hedge funds, private equity firms, and asset managers of all stripes.
This is truly a life-changing opportunity for them, and that’s not BS.
By the end of this article, you’ll see why.
It’s not for no reason that investment legends like hedge fund manager John Paulson and Nick Prouty have planted their flags there. But you don’t have to be a big name to benefit too. As you’ll see, obtaining Puerto Rico’s tax incentives is really a no-brainer for anyone who makes their living off of capital gains.
But first, you need to understand a few things about the uniquely burdensome American tax code to see why this is such an unparalleled opportunity. Continue reading "For Traders and Asset Managers, Puerto Rico's Tax Incentives Are a No-Brainer"
By Doug Casey, Chairman
One time when I was in Burma (now Myanmar), I spent a couple of days riding around the forest by elephant back. Elephants are a fine thing to have in the forest but, believe it or not, you have one living in your house with you. And you should do something about it now, before your house is wrecked and you and your family get stomped in the process.
Any amount of financial success won’t mean much if you get stepped on by the elephant in the room. The damage you routinely suffer from the elephant—not to mention the lingering threat that he’ll go completely berserk someday—dwarfs the importance of the best investment decision you’ll ever make. So, I’m going to invite your attention to a problem of overriding importance: How can you protect yourself and your wealth from the elephant?
The elephant in the room is, of course, the government.
The elephant is your permanent roommate, and it has a permanently big appetite. In the name of “income tax,” it regularly eats 40% or so of everything you earn. You may not like it, but by now you’ve probably learned to live with it.
After you’ve lived out your income-tax paying years, the elephant will attend your funeral—not to console the mourners or to recount your good deeds, but to collect estate tax. In the name of the “estate tax,” the government will take up to 40% of what you leave for the next generation and perhaps more of what you leave for your grandchildren. Continue reading "Doug Casey: "There Is a Rogue Elephant in Your House""
By:Nick Giambruno, Senior Editor, InternationalMan.com
Don't be surprised to lose if you don't make an effort at being competitive.
And if you go out of your way to make yourself less competitive, expect to lose.
If that sounds like simple common sense, that’s because it is.
But it's also exactly what the US has been doing for years—enacting tax policies that sabotage its global economic competitiveness.
It's like trying to get in shape for a marathon by going on an all-McDonald's diet. (Speaking of McDonalds, check out this funny video spoof of what their commercials should really look like.)
Here are two major reasons why the US is lagging in the global economic marathon: Continue reading "Corporations Join Droves Renouncing US Citizenship"
By: Nick Giambruno, Senior Editor, InternationalMan.com
A court ruling involving Microsoft’s offshore data storage offers an instructive lesson on the long reach of the US government—and what you can do to mitigate this political risk.
A federal judge recently agreed with the US government that Microsoft must turn over its customer data that it holds offshore if requested in a search warrant. Microsoft had refused because the digital content being requested physically was located on servers in Ireland.
Microsoft said in a statement that "a US prosecutor cannot obtain a US warrant to search someone's home located in another country, just as another country's prosecutor cannot obtain a court order in her home country to conduct a search in the United States."
The judge disagreed. Continue reading "The Biggest Lesson from Microsoft's Recent Battle with the US Government"