This Week in Financial Blunders

I’m no meteorologist, but when the temperature changes, people get weird. If I had to take an uneducated stab at it, I’d say it has something to do with barometric pressure. Maybe it has to do with cabin fever ending. Perhaps we’re all a dash crazier during season changes. This week in financial blunders, we take a look at some more eccentric stories from the world of finance last week.

All That Remains

If you’re looking to see the amazing 4,500-year-old Indian burial ground in Larkspur, CA, you’re out of luck. The site, which is said to have approximately 600 sets of human bones with “tools, weapons, bear bones, and an extremely rare ceremonial California condor burial,” is now a construction site for a massive housing development. The legendary site was a gold mine for archeologists, and the housing developers involved did their best to keep this under wraps from the public. As one archeologist put it, “The developer was reluctant to have any publicity because, well – let’s face it – because of ‘Poltergeist’.” (The classic horror film features a haunted house built on an Indian burial ground, which the newly-moved-in family has to deal with.) The Bay Area site will soon be home to townhouses, senior living and mansions.

Taxation with International Representation

Taxes are universal. We all have to cough up our payment to the man once a year, but a new study on income taxes shows some countries are coughing up much more. According to CNN Money, the Organisation for Economic Cooperation and Development conducted a study that tells you where to move if you’re avoiding your income taxes. South Korea, Chile and Mexico tax at an incredibly low rate; if you’re a Mexican citizen, you’ll only be taxed on 10% of your income, and you’ll keep 90% of your salary.

Those surveyed in the study were single workers with no kids or dependents, and the rankings were determined by subtracting federal and local income taxes (along with social security) from yearly salary. From that equation, Belgians “won” the highest taxes prize, paying over 40% of their income in taxes. Meanwhile, America sat in the middle of this spectrum, paying roughly 25% of their income in a year.

That’s all we have for last week, but if you have a story you’d like to discuss, please comment below.

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