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Originally posted by MikeN View PostWhy not?Fashion is a form of ugliness so intolerable that we have to alter it every six months - Oscar Wilde
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Originally posted by Faust View PostBecause there is no actual math. A $20 sandwich is a ripoff unless you stuff it with foie gras. There is no way in hell the meat costs this much. The deli is a conveyor of tourists. I am sure the owners clear a million a year at least.
It won't make any sense to those who are under their mid 30's and didn't grow up in this city.
In simple terms, it used to be wild, fun, crazy, you could run around and go to a punk show, later a rave, then a house party, get blasted, meet 50 new people, see 50 others you were friends with, and get home, all for about 10-15 bucks, I'm just glad I got to experience it.
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Honestly, adjusted for inflation it's the same shit now if you're smart. I maybe would not feel as comfortable freebasing in the middle of Houston St at 9 pm as I would have in 1995 but otherwise -- none of that is particularly gone.
Manhattan being a strip mall for the affluent is another issue.
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Originally posted by Arkady View PostHonestly, adjusted for inflation it's the same shit now if you're smart. I maybe would not feel as comfortable freebasing in the middle of Houston St at 9 pm as I would have in 1995 but otherwise -- none of that is particularly gone.
Manhattan being a strip mall for the affluent is another issue.
It just seems like the soul is missing, something I can't put into words. It was more dangerous then, but also felt like the city was a living thing, where now it feels to me personally more like a machine.
You can still freebase on Houston, np, just do it east of say west broadway/ Bowery Should be ok ;) This reminds me of a thing I love, there are still so many junkies on the east side, especially their old favorite Tompkins, they're like a remnant of some kind from those times, maybe like a stain, that the city just can't seem to get out.
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Originally posted by endersgame View PostReally? I asked my accountant and she told me I just pay US tax on income abroad. Not the country tax and US tax.
Depending on the situation down the road, I don't have a problem giving up my US citizenship.
FATCA is fucking us all and expatriots don't even have a representative in Congress which is almost impossible to wrap your head around given America's history. At this point the new FATCA regulations are so grueling and the penalties for noncompliance with US government requests so brutal that foreign banks simple are starting to just outright reject American clientele.
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Originally posted by PUCK View PostIt feels different though, I don't know if that's me getting older though, and for sure I know there's still very cool stuff happening, I guess it's that 20 years ago it felt like you could just fall into one cool thing after another, where now you need to know where the things are. Babbling I know.
It just seems like the soul is missing, something I can't put into words. It was more dangerous then, but also felt like the city was a living thing, where now it feels to me personally more like a machine.
You can still freebase on Houston, np, just do it east of say west broadway/ Bowery Should be ok ;) This reminds me of a thing I love, there are still so many junkies on the east side, especially their old favorite Tompkins, they're like a remnant of some kind from those times, maybe like a stain, that the city just can't seem to get out.
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Originally posted by endersgame View PostReally? I asked my accountant and she told me I just pay US tax on income abroad. Not the country tax and US tax.
Depending on the situation down the road, I don't have a problem giving up my US citizenship.
Most banks in Asia won't even talk to you if you're American at the moment, even for something as innocuous as opening a simple bank account, because of how far the IRS/Obama have their long tentacles, the banks can liable for all kinds of fines and penalties if you under report/lie on your tax returns.
My best friend who is an American financial adviser living in South-East Asia explained the whole scenario to me recently and the hoops he's jumping through a the moment. It sounds absolutely brutal, real big brother stuff. He's in the process of transferring all his assets and finances to his non American wife in order to negate it.
Originally posted by Arkady View PostEverything I know says you pay both above a threshold. For example Germany's treaty with the US dictates anything above $106K gross annual income you will incur German taxes as well, which means you get hit for about 75% total. Other countries without treaties with the US you pay both from the get-go. If you're a resident the foreign nation will be taxing you, I'm sorry to be the bearer of bad news but your accountant is off her ass. I've been knee deep in this issue myself as I had hoped to relocate to the EU but my business is in the US.
FATCA is fucking us all and expatriots don't even have a representative in Congress which is almost impossible to wrap your head around given America's history. At this point the new FATCA regulations are so grueling and the penalties for noncompliance with US government requests so brutal that foreign banks simple are starting to just outright reject American clientele.
The UK will soon be following suit, this is before we have TTIP to look forward to.
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Originally posted by endersgame View PostReally? I asked my accountant and she told me I just pay US tax on income abroad. Not the country tax and US tax.
Depending on the situation down the road, I don't have a problem giving up my US citizenship.
My understanding (note: I am neither an accountant nor an attorney, but I am a dual citizen) is that it depends on which country you're in. Many countries have agreements with the US that you only pay US tax on any income that you're not taxed for in your home country, and vice-versa.
For instance, my brother-in-law lives and works in Australia (and is a dual US-Australian citizen), but he inherited a house in the US that he rents out. He only pays US taxes on the rental income as the rest of his income is already taxed Down Under. I am also an Italian citizen, and this same deal is in place there, too. So since I currently earn all of my money in the US, I am not required to pay taxes to Italy, and I was told by the consulate that if I lived in the EU (which I am hoping to do), it would work in the other direction, too.
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Originally posted by PUCK View PostIt just seems like the soul is missing, something I can't put into words. It was more dangerous then, but also felt like the city was a living thing, where now it feels to me personally more like a machine.
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Originally posted by jurassicsnark View PostIs this different if you're a citizen in the other country?
My understanding (note: I am neither an accountant nor an attorney, but I am a dual citizen) is that it depends on which country you're in. Many countries have agreements with the US that you only pay US tax on any income that you're not taxed for in your home country, and vice-versa.
For instance, my brother-in-law lives and works in Australia (and is a dual US-Australian citizen), but he inherited a house in the US that he rents out. He only pays US taxes on the rental income as the rest of his income is already taxed Down Under. I am also an Italian citizen, and this same deal is in place there, too. So since I currently earn all of my money in the US, I am not required to pay taxes to Italy, and I was told by the consulate that if I lived in the EU (which I am hoping to do), it would work in the other direction, too.
The United States has tax treaties with a number of foreign countries. Under these treaties, residents (not necessarily citizens) of foreign countries are taxed at a reduced rate, or are exempt from U.S. taxes on certain items of income they receive from sources within the United States. These reduced rates and exemptions vary among countries and specific items of income. Under these same treaties, residents or citizens of the United States are taxed at a reduced rate, or are exempt from foreign taxes, on certain items of income they receive from sources within foreign countries. Most income tax treaties contain what is known as a "saving clause" which prevents a citizen or resident of the United States from using the provisions of a tax treaty in order to avoid taxation of U.S. source income.
If the treaty does not cover a particular kind of income, or if there is no treaty between your country and the United States, you must pay tax on the income in the same way and at the same rates shown in the instructions for the applicable U.S. tax return.
Many of the individual states of the United States tax income which is sourced in their states. Therefore, you should consult the tax authorities of the state from which you derive income to find out whether any state tax applies to any of your income. Some states of the United States do not honor the provisions of tax treaties.
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