The Step Up Basis rule for capital gains in regard to inheritances has existed for almost 100 years. The Biden administration has considered cutting it back. That would cause complete panic on Wall St and Main St.
The retirement I have now in Thailand is the same or better than the retirement I would have had in America. The same until my American ex-wife divorced me. That pushed my retirement to Thailand. No regrets.
Thanks. I’ve read or heard both stories before. As for the 90% tax on the top income earners—most found and used loopholes to drastically reduce their tax burden. My grandfather had a small business in the 50’s. He found ways to prosper, despite the tax rate.
Agree. I had a 30-year mortgage, used the mortgage interest tax write off, refinanced several times, and finally paid it off 10 years early when I retired.
They should make basic personal finance a requirement in all high schools. Better yet, for all people on public assistance. Learn to live within your means.
Runaway inflation. And hollowing out the manufacturing base. I think we are the last generation to retire comfortably—although to do it, some of us had to came here.
Book economy seats, then upgrade at the gate to the mid-range seats—wider with lots more legroom. Some airlines will sell the upgrade for cheap, online. Sure beats 12+ hours in coach.
Interesting point—the locals understand “America” better, probably because we’re known as Americans. Too confusing for a Thai or someone in any other country when you label yourself an American from USA.
Exactly what I saw in a Bar Street restaurant, a few years ago. Table next to us had eight very ugly Chinese young men. They kept getting updates from an attractive well-dressed Chinese woman. Sure looked the start of a wife-buying scheme.
Maybe it’s time for Customs to step in. They do a pretty good job keeping western products out of Thailand.
And here’s an idea for Bank of Thailand:—let the Baht ease up some more. No need to defend it, if you want to compete with your neighbor.
Not always. 1st wife had trust fund income, plus large assets. After she went through all her money—she came after mine via divorce. Thai (2nd) wife had few assets, but so much better for me. No regrets.