Where is the best place to live if you want to remain a U.S. citizen and have the lowest possible tax rate?
TheBlaze contributor Yaron Brook joined Wednesday’s “The Morning Blaze with Doc Thompson” to explain why he’s moving to Puerto Rico and to share a different way of seeing money, income and taxes. “Money is life,” he said – because you are trading so much time and effort for it.
Yaron explained that moving to Puerto Rico means that he will go from a 55 percent income tax rate to a tax rate between zero and 4 percent. Since Puerto Rico isn’t technically a state, residents don’t have to pay federal income tax. That means getting a lot of life back since we trade our time to make money, essentially giving part of our lives to pay government income taxes.
“Money is life,” Yaron said. “Think of it as units of time, units of your effort.”