[rickcoye]

[quote=”kordan”]If Inflation is low, why are prices rising on Gas, Food, Precious Metals, Industrial Metals, and preety much all other raw materials

[quote=”gzeniou”]Perhaps this could be seen as a scare technique by Paul to get Americans to buy in. On the other hand, I have to agree with a lot of what he is saying including the tax rate of 60-70%. But I do think that there will be some kind of loop hole some where, The rich corporate holders want to invest outside the US just as much as we do and have course they write the laws.

However this also brings up some interesting questions for those of us that already own property in central America.

Are we going to get hit by a 30% tax if we sell the current property we own and buy another in the same foreign country?

In theory, if the IRS wants to know about our assets at some point they may want to know about our Real Estate holdings are they going to put a tax on those. Such as a luxury tax or something every year?

It just seems to be very unclear at the moment about what the future will bring.

In any event, with inflation being low and interest rates extremely low, it doesn’t hurt to slowly transfer money (less then $10,000) into CR every time you or a family member flies in. Just put your doe in a secure place and not open or have a bank account in CR with more then $10,000. This way you can have for example a $100,000 in a safety deposit box without the IRS every knowing. Another possibility is bring in $10,000 worth of gold each time, and just covert a little bit at a time when you need it. As gold should hold its value with inflation. I myself don’t know much about Gold but will look more into it.

I don’t believe that any of the above suggested is illegal or against the IRS tax code. There are probably many that don’t trust the banking system etc. in the US that simply just put their money “under their mattress”, they don’t earn anything on it. (what is the real earnings anyway? typical money markets in the US gets you 1.0% but after the IRS gets its share, is it worth it?). This is doing the same thing just in another country. The main reason we stash our money in a secure place is not to avoid any tax, its because we feel more comfortable with securing our own money then having it secured in a bank.
8)[/quote][/quote]

Keep it simple stupid, Remeber KISS, FOR SIMPLICITY SAKE! Can folks respond to this senario which must surely apply to many concidering escapeing the USA for a foreign location?
Let’s say I have cash form the sale a property in the USA $500,000 and want to buy a home or ? in Costa Rica. HOw does one normaly get that cash into CR or out of the US.
Can I wire money transfer all or a portion of that money to purchase a home? Would it be subject to this 30% tax? If one has additional income or cash and wishes to have it sent / wired monthly to Costa Rica, is it going to be taxed? How does one get money into the country. Could one take in and hold say $100,000 in travelers checks 😕

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