Schumi in Trouble <<<<<Not Racing Related

No personal tax in Monaco.

 

I pay something like 42+%, why should he not have to support the country that he lives in?

I know that the rich always move to these tax havens, but it really is selfish and inconsiderate.

MS was born in Germany ... people that worked at that time paid taxes and thus helped raise him, etc. ... and then he decides to fnck off and not pay when it is his turn to help others in his own country. Shows his true character IMO (and the same can be said for these other rich fnckers ... ie. try giving some back to the system).

Also yeah he pays 42%, but that still leaves him with a **** load of money ... why worry about it, be a man pay the taxes and live somewhere because you like it or belong there, not for fncken money reasons.
Pete

 

Spoken like a true Aussie taxpayer.

Another victim of John Howards Anal probe into our pockets.

Im with you on this one. 47% Tax for me here.....

 

Mike,

What do you think about the AWA or ACA? I myself am a contractor anyway and have always had contracts, etc. ... but hmmm, not sure this is a great move by John Hitler ??

Pete

 

Pete you in the Telco industry?

 

H&R Block (Australia - or your favorite tax preparer/accountant), but at least off of this thread ..........................................

 

PM'ed you Mike

Pete

 

Pete i was born in Germany.... Are you saying i need to move back there and start paying taxes there????

With your reasoning then a majority of the F1 drivers are at fault not just MS.

 

I on the other hand want to know more about living in Monaco and not having to pay over half my income in taxes. Anyone got any informations on this?

 

Well you can. Problem is, that you pay HUGE amounts of $$$ for the smallest of places. That's the flip side of it.

Corinna loves her horses, Michael has his huge car collection and they prefer their kids to grow up in a relative quiet environment as the French part of Switzerland is. Monaco is a far cry from that. Even Michael's money wouldn't buy him the size of mansion he built on Lake Geneva.

OTOH the family by now probably speaks some French, so they should be able to get around relatively easy. And Monaco speaks English too of course. Even Italian, but we know Michael isn't easy when it comes to that.

 

It doesn't seem as if he's "in trouble."

 

I believe you need to be either a: (a) permanent resident (doable with a considerable amount of paperwork, if you can prove that you have a good job or are of independent means- they don't want you to be an added burden on Monegasque social welfare programs- also, you must be in residence in MC at least 6 months/year, every year, whihc is allegedly what got Michael booted out some years back); or (b) citizen (which requires a significant payment to the MC treasury- last time I heard, which was many years ago it was $1MM/person).

 

I think there is also some form of agreement that you have to play at the casino x times a year also? Or is this a rumor?

 

There is absolutely nothing wrong with paying the least amount of tax possible. That's why we have accountants. Not just to tell us what we owe, but how to save. I applaude him. 42% is BS. He deserves every penney someone is willing to pay him and he should get to keep as much of it as he can. Good for him.

 

Actually he is probably putting his money to better use for the world than it would have been had it gone to the German government: He spends big portions of it directly on humanitarian projects. Remember his $ 10 mio for the Tsunami victims? That would have probably ended up paying for some EU related milk or butter mountain...

 

Exactly, He gives 10 million to Tsunami then hears this crap

 

I suspect that's just a rumor . . .

 

What he said.

 

Exactly right!!!!!!!!!!!!!!!!!!! He is doing better things for more people.

 

You are absoultley right. He is doing something better with his money, rather than buying yachts, planes and homes. Micheal is a very private person and does not like to show off. He does good with his money. I heard he spends more than 20% of his income on charities groups. So stop attacking somebody who is trying to make a difference in the world.

 

He should be a man and pay high taxes??? Who says this ****??

You can't look at athlete's who make lots of money the same way you look at a guy who works at a phone company. He doesn't just take home his check and put it in the bank and pop open a beer and watch TV.

Schumacher is an industry in and of himself. He employs a lot of people who manage his business affairs. Attorneys and mrketing people. 50 mil is just his salary. Probably nothing compared to his endorsement deals. A lot of people and companies make money from MS. You can;t take his money for some communist government BS. It's counterproductive.

MS Inc. is probably not an employee of Ferrari as much as he is a contractor. I'm guessing here.

 

FWIW, Jacques Villeneuve was grilled a few years back by a local reporter who asked if his leaving Canada had anything to do with our high income taxes. He basically was trying to paint JV as an ex-patriot ingrate. JV replied: "How many people in this room like paying taxes?" The room fell silent.

 

As usual the meaning of what I said goes right over everybodies head. So just because he is rich he should get a tax break ... and you guys think that is fair?

He is NOT paying high taxes ... he was asked to pay exactly the same tax as every other person in the same country.

Yeah well aware of his donation, good on him ... I applaud, but I applaud more the ones that don't have the money that still gave.

It is all about %'s ... there are many in this world scrapping a life together and they still have to pay the same rate of tax ... and they still donate!@!, or try to.

But no, once you are rich you can hire people to dodge your responsibilities to the country that supports you ... hmmm, interesting.

And not really MS's fault, it is the system.
Pete

 

If I, or anyone else, had a tax loophole to use, i'd use it. i don't blame him one bit.