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Friday Ramblings with Robert

March 26, 2010
tags: Haley Barbour, Mississippi Democrats, Jim Hood, healthcare, Escape America, Cayman Islands
by Robert

What Should Hood Do?

Jim Hood has announced that he will seek a third term as Attorney General and now is faced with a huge decision that could send ripples into the campaign season next year.  He has to decide if he wants to join with several other states in a lawsuit against the federal government over the passage of the healthcare bill.  Haley Barbour has put the ball in his court and now he has a critical decision to make.  It is safe to say that the healthcare bill is not very popular in the state and only one of three democratic congressmen voted for it.  So what should Hood do?  If he chooses to join in the lawsuit he likely does not lose any support and actually does not allow the governor to continue to shine the light on him.  The most likely scenario though is that he will choose not to join in on the lawsuit and Haley Barbour, being the strategist he is, will not allow Mississippians to forget what Hood did.  I am not sure if Republicans will have a candidate that can give Hood a good run, but if they do be prepared to see this issue come up over and over again in next year’s statewide races.  Hood is in a tough spot because he is the Mississippi Democratic Party’s lone shining beacon and will have a lot of pressure to support something they are openly celebrating, but he also should be selfish and think of his own future as well.

Escape America: Cayman Islands

With the United States headed on a dangerous path it never hurts to keep your options open to moving abroad and leaving the country altogether.  Escape America will be something I feature here from time to time to take a look at good places to pick up and head to if our government continues on a destructive path.

The Cayman Islands are an English speaking territory of the United Kingdom that features 3 islands (Grand Cayman, Little Cayman and Cayman Brac) and is situated in the Caribbean below Cuba and west of Jamaica.  The islands are a major financial center due to their lack of taxes including no income tax, capital gains tax or corporation tax.  The main tax income for the islands comes through a tax on imported goods that usually is around 20% (think Flat Tax).   When you do decide to move to the Cayman Islands you do have to obtain a work permit and cannot move there without one, unless you are independently wealthy.  This means you actually have to have a job when coming into their territory which is a pretty novel concept.  Most of all you will get to enjoy some of the most beautiful scenery your eyes have ever seen on a daily basis.

Resources: World Factbook, Cayman Islands Government, Wikipedia

3 Comments leave one →
  1. RandomThoughts permalink
    March 26, 2010 3:56 pm

    This is what I don’t understand about the Flat Tax people: in 2009 if you were single and you had taxable income of $82,250 (the top of the 25% tax bracket) you paid $15,915 in taxes or approximately 19% of your total TAXABLE income.

    At the same time if you were married filing jointly and you made $137,050 (the top of the 25% tax bracket) you paid $26,637.50 in taxes or approximately 19% of your total TAXABLE income.

    Everything I hear of the Flat Tax has the sales tax rate being AT LEAST 20% most of what I hear has it being 25% to 28% which would raise the majority of people’s taxes. Every time I hear someone say they for the Flat Tax I think they have no idea what they are talking about.

  2. Tammie permalink
    March 29, 2010 7:03 am

    Please get your facts straight about the Cayman Islands. I am a native of Mississippi and a citizen of the Cayman Islands. We do not pay into any indigent fund and there are many people here who have permanent residency and do not have to work as they are financially stable. It is a wonderful place to live, though.

    • March 29, 2010 9:42 am

      I’ll take your word on the “indigent fund” it was something I had read in a couple of places, but without much evidence I can now put 2 and 2 together. As to the residency issue I understand what you are saying that you don’t have to work to gain residency, but not everybody has the six figure income that is required by the government to live there without getting a work permit, which is the most logical means of entry for most people.

      http://www.caymannewresident.com/page_id_5.html

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