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Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @07:18AM (#17204289)
This has a flipside though. If you do manage to find success (and say, own a profitable business or have an exit), you'll be taxed into oblivion.

It might not be the popular opinion on HN, but I would hate that. Make sure to structure things properly from the beginning so that you can leave when appropriate.

Re:How to get rich without getting lucky by mrlinx on Friday June 01, 2018 @11:09AM (#17205998)
Sorry, but this has to be the dumbest comment in HN.

The parent post was saying how living in a country with a generous welfare system can make a lot easier to have more free time and easier to take risks, and you're worried that if you take advantage of that, you might need to help pay that off if you're successful?

Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @11:35AM (#17206293)
The fact of the matter is that, in countries where the state gives you a lot, they generally take a lot as well. The money needs to come from somewhere.

Most decent entrepreneurs manage to sustain themselves and find a way to build out something regardless of whether the state is handing out money. If I manage to get a win, I want to keep most of my winnings.

I'm European but wouldn't want to live in a country with high income taxes, high capital gains taxes, various hidden levies (luxury cars costing hundreds of thousands, gas being super expensive), high corporate and dividend taxes, and to top it off a nice annual wealth tax. Why even bother trying to achieve more than your fellow citizen in that kind of setting?

Re:How to get rich without getting lucky by ineptech on Friday June 01, 2018 @03:32PM (#17209186)
> The fact of the matter is that, in countries where the state gives you a lot, they generally take a lot as well. The money needs to come from somewhere.

The state gives a lot to you, when you're poor, and it takes a lot from you, later on after you're not poor anymore. Why do you think you should get to live in a nice place full of nice things paid for by other people, and not pay your own share? How is that morally different from spending the night in a hotel and then skipping out on the bill?

Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @04:00PM (#17209538)
Spending a night in a hotel and then skipping out on the bill will land you jail (or at least it will get the police involved). Avoiding tax is legal and does not.

> Why do you think you should get to live in a nice place full of nice things paid for by other people, and not pay your own share?

By definition, if you pay everything you owe, aren't you paying your share?

Re:How to get rich without getting lucky by ineptech on Friday June 01, 2018 @04:06PM (#17209608)
I said "morally different".

edit:

> By definition, if you pay everything you owe, aren't you paying your share?

The line between tax avoidance and freeloading is debatable. Maybe you use less tax-funded things than most people. Maybe you refuse to drive on streets, cross rivers in a rowboat instead of walking on bridges, and resolutely close your eyes when walking by a beautiful piece of taxpayer-funded art. But morally, if you're enjoying nice things that other people paid for, you're freeloading (which is emphatically not a political stance, or an "unpopular opinion").

Re:How to get rich without getting lucky by AnIdiotOnTheNet on Friday June 01, 2018 @08:25AM (#17204617)
> This has a flipside though. If you do manage to find success (and say, own a profitable business or have an exit), you'll be taxed into oblivion.

Ok, but if I'm already living the life I want to live... who cares?

Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @09:10AM (#17204927)
Then it doesn't matter. But what if you're halfway there, and would be there if you could legally avoid the tax?

Some people care about this, others don't.

Re:How to get rich without getting lucky by isolli on Friday June 01, 2018 @07:41AM (#17204385)
Can you provide examples? I can only think of a counter-example: Ingvar Kamprad, the (Swedish) founder of Ikea, and by some accounts at times the richest man on earth.
Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @08:06AM (#17204508)
Literally every businessman who lives in Monaco. Most aren't very well known, however.

If you make sure, for example, your intellectual rights (if we're talking a software company) aren't held in a country with a super high corporate tax rate, that would be a good start.

Re:How to get rich without getting lucky by Jommi on Friday June 01, 2018 @07:46AM (#17204401)
I guess it might slow you down from getting surpr super rich, but in the end it's surely worth it.
Re:How to get rich without getting lucky by charlesdm on Friday June 01, 2018 @08:02AM (#17204486)
No. It slows you down just getting rich as well. If I want to make €5 or €10m and retire, it's inefficient to pay a lot of tax if you can legally get around it.

It's one thing to pay on gains you make after you've gotten rich, i.e. if you're making 5% a year on €10m, than on the initial capital you're building up.

Re:How to get rich without getting lucky by Jommi on Saturday June 09, 2018 @05:18AM (#17272199)
But if the tax goes into something like education, it also has an accelerating effect.

I think this is an issue that just isn't that black and white as you want to portray it.

Re:How to get rich without getting lucky by sundvor on Friday June 01, 2018 @10:11PM (#17212227)
And you'll still be driving a Tesla.