Or you can travel the globe without being tax resident anywhere as long as you don't trigger tax residency rules (and not a citizen of the US, Australia and a few other countries).

Just a note that Australia has no problems in this regards, and should not be included with the US.

As with all countries except the US, if you have a local (Australian) passport and change your residency to any other country, you don't pay tax in Australia.

If you rent out a property in your country of citizenship (ie. the country of your passport), you still have to do a tax return and pay tax on that rent (what is called "Australian-sourced income"), but pretty much every other income (your work abroad, dividend, capital gains) isn't taxed.

The US is the odd one out, in that when you leave the US you are in a sense trapped (you could say that you are "owned" which goes against the land of the free rhetoric) and have to keep paying tax to the US.

If you live in the US and want to not pay tax, you can do this by obtaining a passport (citizenship) from another country (such as through marriage) and then renounce your US citizenship.

- Manlobbi

Berkshire Hathaway FAQ

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