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[lolgov] Cost of Dropping Citizenship Traps U.S. Citizens
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pjp
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PostPosted: Fri Mar 01, 2013 4:39 am    Post subject: [lolgov] Cost of Dropping Citizenship Traps U.S. Citizens Reply with quote

And they wonder why people use offshore banking.

Cost of Dropping Citizenship Keeps U.S. Earners From Exit
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padoor
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PostPosted: Fri Mar 01, 2013 6:38 am    Post subject: Reply with quote

once a tax payer lifelong tax payer.
anywhere in the world.

Quote:
The U.S. taxes citizens on their worldwide income even if they live in another country. That’s why people give up their passports to avoid the IRS’s reach.


that is not fair to tax worldwide income untill the profit is brought back home
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Last edited by padoor on Fri Mar 01, 2013 6:41 am; edited 1 time in total
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Muso
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PostPosted: Fri Mar 01, 2013 6:39 am    Post subject: Reply with quote

padoor wrote:
once a tax payer lifelong tax payer.
anywhere in the world.


Unless you drop your passport (and have hidden your wealth in another country via your wife) ;)
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Prenj
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PostPosted: Fri Mar 01, 2013 7:01 am    Post subject: Reply with quote

It's crazy that you guys have to pay taxes to US, even tho you live somewhere else...
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Muso
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PostPosted: Fri Mar 01, 2013 7:59 am    Post subject: Reply with quote

Prenj wrote:
It's crazy that you guys have to pay taxes to US, even tho you live somewhere else...


That's one of the reasons why I moved back to the USA. Bush changed the rules on taxation for expats.
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juniper
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PostPosted: Fri Mar 01, 2013 10:18 am    Post subject: Reply with quote

Muso wrote:
Prenj wrote:
It's crazy that you guys have to pay taxes to US, even tho you live somewhere else...


That's one of the reasons why I moved back to the USA. Bush changed the rules on taxation for expats.


how did such a thing happen in the most anti tax country?
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padoor
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PostPosted: Fri Mar 01, 2013 3:20 pm    Post subject: Reply with quote

rich free country :)
not any more ?
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pjp
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PostPosted: Fri Mar 01, 2013 10:20 pm    Post subject: Reply with quote

padoor wrote:
that is not fair to tax worldwide income untill the profit is brought back home
I agree. If I make money external to the US, they get 0 until I bring it back. Not that I expect I'll ever make money outside of the US, but it's nice to dream.
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tylerwylie
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PostPosted: Fri Mar 01, 2013 10:24 pm    Post subject: Reply with quote

What's with this silly notion that people have that they own themselves. You may have the freedom to move but you will always be tax-livestock.
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pjp
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PostPosted: Fri Mar 01, 2013 10:47 pm    Post subject: Reply with quote

Batteries for The Machine.
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lolgov. 'cause where we're going, you don't have civil liberties.

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erm67
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PostPosted: Sun Mar 03, 2013 12:16 pm    Post subject: Reply with quote

Nice idea, we should do the same.

BTW one Facebook founders has bought a house (well an old castle) near here and is renovating it ..... I had read he plans to live here.
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