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[quote=”aguirrewar”]I agree with waggoner;
I pay property taxes and part is for the Library; which I never use, another part goes to the school district when my kids graduated 10 years ago.[/quote]
The property taxes that we pay to support libraries and schools are necessary to educate the generations that follow us and although the internet is probably displacing the libraries in many ways they are still the primary source of reading material.[quote=”aguirrewar”]The tax system is unbalanced and needs a major overhaul. When Warren Buffett pays less taxes than his secretary (diferent brakets) you know something is not right.[/quote]
Having researched economics and the economic history of the U.S. for more than 45 years I can tell you that there is no argument against this statement. The progressive tax system is still the fairest there is when taxation is evenly balanced between the wealthy and the rest of us.
Congress has created so many loopholes in individual income and corporate taxes that are available only to the wealthy or big business that the distribution of wealth is moving ever upward. In 2007 the average wealth accumulation of the wealthiest 2% was rising by 27% per year while the middle class averaged 3%. Is something wrong here?
[quote=”waggoner41
The point that most Americans are missing is that Social Security, as the name implies, was enacted as a safety net not a savings program. As such I have to wonder why a person with a $100,000 retirement income feels that he is owed Social Security.[/quote]Spoken like someone that doesn’t have a pension or any real savings in a 401k… LOL
Since it was a system I was FORCED into I feel I am entitled…to the return I was promised! It’s not just an insurance (death/disability) program. It’s a base retirement program. It’s bad enough that TAXING it reduces my real return! If, as you seem to imply, that SS is another WELFARE program… just call it that! Uncle Sam is good a creating welfare programs that it likes to call something else, just look at the tax system… the earned income credit is nothing more then another welfare program. And since when do we PUNISH folks that work hard, save towards retirement, and provide for themselves? No wonder folks don’t want to work for a living!
Remember… someone making $100,000 in retirement has worked hard, saved, invested, and most likely maxed out Social Security contributions for a long time!
It is becoming class warfare, those that have it and those that don’t! No insult intended, just an opinion!
That is one side of the coin but there is another one.
I pay property taxes for some services I do not use anymore.
I pay Insurance on the house and never made a claim.
I pay for unemployment benefits and NEVER been unemployed
I pay a gas tax for a 4 cylinder car that uses the roads in the USA, what about the people that use the same roads with a Hybrid (electric) car, they use the sane roads but pay less for gas.
Some people pay more, others less but we all use the same amount of resources available to each.
The point is; when I started working back in 1970, I never intended to live on what the monthly SS check was. I planed, saved, invested and just worked to the tune of having 2 pensions, 401K and savings. Not counting that the house in Desamparados and the one in Tampa are PAID OFF.
Do I need the income from SS?? NO since I did not plan to receive that money and the same with my income tax return every year, I don’t count on that money either.
My expenses in Tampa, FL a month are;
$600.00 for all utilities, water, electricity, phone, internet, car insurance, etc.
$800.00 for food and other household purchases, soap, toilet paper, cleaners, etc.
$600.00 more for gas to go to work, lunch, newspaper, etc.
$200.00 goes on incidental; pizza, restaurants, clothes, etc.
Total; $2,200.00. Don’t have credit card balances, NO Sears, JC Penny, Home Depot, Victoria Secret (LOL):lol:
but I make $6,000.00 a month, guess where that extra money goes every month??
SAVINGS and investments is the answer!!!
I never made my plans with the Goverment for my retirement. I have always made it with myself.
In terms of taxes and proposed new taxes in Costa Rica. A wise Costa Rican friend always reminds me, “Just wait, and see. The dog’s bark is often worse than his bite.”
not so sure DV; the CR Goverment is runing a -5% deficit against their GDP.
They are not going to CUT any social programs and new TAXES are being proposed. Anyone in CR making over $1,300.00 a month (gross) in salary will be taxed 10%.
The home tax (Luxery) for anything over 100,000 colones that was enacted as a provisional measure is now permanent.
Colon Value Value To Tax value
From 1 to 100,000,000 0.0%
From 100,000,000 to 250,000,000 0.25%
From 250,000,000 to 500,000,000 0.30%
From 500,000,000 to 750,000,000 0.35%
From 750,000,000 to 1,000,000,000 0.40%
From 1,000,000,000 to 1,250,000,000 0.45%
From 1,250,000,000 to 1,500,000,000 0.50%
From 1,500,000,000 to 1,750,000,000 0.55%It seems there is NO Tea Party in CR, 😆
Get ready for this WILD ride, you will pay taxes either you want it or not
[quote=”Imxploring”]Since it was a system I was FORCED into I feel I am entitled…to the return I was promised! It’s not just an insurance (death/disability) program. It’s a base retirement program.[/quote]
You can read the Social Security Act in it’s entirety at
[url=http://www.ssa.gov/history/35act.html]The Social Security Act (Act of August 14, 1935) [H. R. 7260][/url]The preamble to the act is this:
[b]An act to provide for the general welfare by establishing a system of Federal old-age benefits, and by enabling the several States to make more adequate provision for aged persons, blind persons, dependent and crippled children, maternal and child welfare, public health, and the administration of their unemployment compensation laws; to establish a Social Security Board; to raise revenue; and for other purposes.[/b]
We all know that the government services in Costa Rica are severely underfunded so the question that I raise is this: Are we here to enjoy our retirement or are we here to watch Costa Rica crumble before our eyes.
I, for one, am willing to pay a tax on my untaxed income to see improvement. I would rather not see what I came here to enjoy disolve into a pile of crud. There are many improvements being made in my area which enhance our life here but they come slowly as the government can afford them.
Since you dont live here you can take an attitude of indifference. I do live here and see things in a different way.
If you haven’t noticed, things in the U.S. have been going downhill for the past three decades. It is just in the past ten years that the downhill run has been picking up speed. The current federal income tax rates are at the l;owest percentage of income since 1932 and still people complain that they are overtaxed.
You are facing the same situation that we find here. The system of taxation favors the wealthy and largest corporations and needs to be revamped.
If you want to know about taxes in Costa Rica and how it will affect you, I highly advise you to read anything Randall Zamora writes.
This person is in the “KNOW” on the political, economic, social issues in CR be that individuals or corporation. He is a CR citizen that knows how the “cookie crumbles” in CR.
Randall does not post here very much but Scott makes articles based on his conversations.
My friend Randall certainly pulls no punches when he speaks about taxes and politics in Costa Rica, the most recent Q&A we had is featured at:
Big Investors Considering Costa Rica – What problems are on the horizon?
[ https://www.welovecostarica.com/members/3292.cfm ]
Scott
[quote=”aguirrewar”] If you want to know about taxes in Costa Rica and how it will affect you, I highly advise you to read anything Randall Zamora writes.[/quote]
Zamora will tell you how the tax situation is for the individual but I have yet to see him discuss the plight the Costa Rican government is in or present any ideas regarding fixing the problem.
He knows how taxes are structured now and I am talking about how to correct the situation for the future.
You can take the attitude that you dont care if Costa Rica falls down around your head or you can decide that our participation along with that of the Rico Ticos would go far to making a difference.
I own a property on which the taxes tripled with the luxury property tax and I dont mind paying it if it goes to improve conditions here. If it goes into the pockets of the politicos I have a great deal of resentment.
Randall is what you would call a CPA, Economic Advisor, etc. but he is not a politician and they are the ones calling the “SHOTS”. Randall can only make an analysis of the situation at hand and that of the near future. HOW ACCURATE can he do it, pretty CLOSE in my book.
Read the whole article Scot posted and what Randall says’ about if the Arias come back to power. Digest some of that information he wrote.
“Is noticeable that the country is not doing that well, it remains a good country to invest in and to retire however, if the Costa Ricans do not act wisely on the next elections, and by acting wisely I openly mean not to vote for PLN (National Liberation Party) and its so far proclaimed candidate, Rodrigo Arias, brother of Oscar Arias, then I forecast no improvements for the overall ranking of the country when it comes to doing business in Costa Rica.”
You have to understand Tico politics’ to see what he is talking about, unfortunately EX-PATS cannot vote in CR. So it is up to the citizens of CR to decide our fate and theirs’ at the voting polls.
Do you know who Oton Solis, Francisco Villalobos are?? You follow the politicians and find out what they propose and pretty soon you will find out what will land on your LAP.
Hope this helps you need to think like a TICO when in CR the US mentality will not help you overseas
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