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by DelaneyM
1088 days ago
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By the way, Cayman has pretty substantial taxes. We operate a thriving country with no national debt and a great social safety net. We just charge them differently. There’s an effective 22% consumption tax (with carve-outs for basics), levied on all imports and increased on luxuries. We have 7% taxes on all property transfers (for both income and to minimize house flipping). We have a ton of fees on any government interaction which aligns regulatory burdens with income. |
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