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Giving Birth In The US


wealthymattersChoosing to give birth in the US,has so far been a smart option available to well to do Indian mothers. Doing so enabled the babies,and later the parents themselves to acquire the prized US citizenship and the opportunities available in America.

The US already taxed its citizens and residents on their global income and with the passage of FACTA, suppressing asset ownership in India is going to be harder.

Worse,if a person wishes to give up US citizenship, they have to pay an expatriation tax on the market value of their world-wide assets. Now imagine the mess if this person owns a pricey house in India, they have no interest in selling!

So going to the US to give birth, is no longer a no-brainer but requires a great deal of careful planning and ring-fencing of assets.

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Sleeping On Cash


In a lighter vein, if you have ever wondered just how much cash you could sleep on, literally, here are some figures to help you get started:

wealthymatters

My calculation is Rs 10 cr max to construct a reasonable sized double bed platform of cash. Though I have doubts about the comfort of this bed of cash!

From “Who are the Kauravas, and Who the Pandavas?”


wealthymatters“Dharmaraj has not overcome

His addiction to dice.

In every panchayat

Draupadi is robbed of her honour.

Without Krishna

Today

The Mahabharata will be fought.

No matter who claims the throne,

The poor will continue to suffer.”

-AB Vajpyee

Here’s why we’d best each focus on doing what we can, at our own level, to improve  our material situation.

Thus Spoke Raghuram Rajan


walthymattersI always read what Raghuram Rajan says with interest. He has often been dead right and remarkably prescient. Here is the full text of a speech he gave yesterday. It gives us a framework to think about economic matters for the next few years.

Make in India, Largely for India
(Talk delivered by Dr. Raghuram Rajan, Governor Reserve Bank of India at the Bharat Ram Memorial Lecture on December 12, 2014 in New Delhi)

The global economy is still weak, despite a strengthening recovery in the United States. The Euro area is veering close to recession, Japan has already experienced two quarters of negative growth after a tax hike, and many emerging markets are rethinking their export-led growth models as the industrial world stagnates. In the last couple of years, the IMF has repeatedly reduced its growth forecasts. After 6 years of a tepid post-crisis recovery, the IMF titled its most recent World Economic Outlook “Legacies, Clouds, Uncertainties”. Read more of this post

Well Done!


wealthymattersBillionaire Alisher Usmanov paid $4.76 million at auction to buy James D. Watson’s 1962 Nobel Prize. Yes, the same Watson of the Watson & Crick model of the double helix structure of DNA. Usmanov, plans on giving back the medal to Watson.

As Usmanov puts it: “In my opinion,a situation in which an outstanding scientist has to sell a medal recognizing his achievements is unacceptable.”

Bravo!Well said!

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