file under reasons why I am living here instead of U.S

https://news.yahoo.com/irs-track-bank-transactions-over-140000522.html

 

That's ridiculous the IRS wanting to track money transfers over $600.
We have no fear of that happening in Canada. Revenue Canada might want to do something like that but they couldn't. They are too incompetent.
let the rant begin:
The government payroll system is almost working after only 10 years.
My old age pension is still not paid reliably even though the paperwork was submitted over a year ago.
Revenue Canada needs an extra forum submitted with the same information as the tax return that I send them.
Revenue Canada withholds 25% of my income which is below the poverty line "because we can". A$$hats.
Wait time on their Help (no help) lines are typically 4 hours. They do warn you if you are abusive you will be cut off. I've never been to their office but I pretty sure those pencil necks sit behind protective glass.
Called the F'rs once and they said "you didn't submit a forum" when I offered to send them the postal tracking number they immediately agreed that yes they did have it. That reminded me of some services here where a customer service representative will tell you anything to make you go away.
end of rant.
So how's the weather?
Nevermind it looks like rain.

 

In the UK it is best to receive salary via dividends (I admit I did this myself) and also to make money out of Capital Gains. Capital gains should be taxed the same as earned income and most loopholes closed - the rich have the money to use loopholes but the poor cannot. The UKs National Insurance is regressive - why they have a cap on how much is paid is beyond me. It should be combined with Income Tax so it is applied at higher rates to the wealthy. But the Establishment runs the country and the Establishment is wealthy! The Royals have a 'hidden' (until recently) right to examine new laws and have them modified to suit their needs (i.e. to retain their wealth and other privileges). The major problem is apathy in the general population combined with admiration for the wealthy who have Titles or celebrity status, even though many bought their Titles by political donations and gained celebrity status by being 'the daughter or son of', going on some mucky TV show or by having big t*ts and a fat arse.

 

With greater taxation of the rich, the tax thresholds at the lower end can be increased (as they should be - low wage earners should not be coughing up more taxes as a percentage of their earnings than the well paid). Obviously I do not know the exact figures but it should be possible to switch the burden of taxation from poor to rich. I was told by an MP who canvassed me in the UK that reducing taxes for the wealthiest enables their wealth to "trickle down" - lol, tell that to the poor. It trickles into the wealthiests bank accounts.

I am well aware of the need for wealth to create jobs as this has to be self-perpetuating but there is now such a divergence between the poor and wealthy that something has to be done. I don't envy the wealthy but many have more than they need or deserve. There is also the case for very high VAT rates on 'extreme' luxury items.