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Eric Schmidt has applied to become a citizen of Cyprus

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Re: Eric Schmidt has applied to become a citizen of Cyprus

#131

Post by petr_tik »

pembrook wrote: post #113
areoform wrote: post #67

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

"The only country" that you know of.

According to this, https://en.wikipedia.org/wiki/International_taxation#Taxatio..., Hungary, Myanmar have the same as the US. Spain and Turkey and several others have it for some citizens.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#133

Post by mirekrusin »

pembrook wrote: post #113
areoform wrote: post #67

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

You can declare you no longer want to be US citizen.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#134

Post by wtn »

pembrook wrote: post #113
areoform wrote: post #67

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

The easiest way is to move to Puerto Rico.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#135

Post by prussian »

eatmyshorts wrote: post #39
Barrin92 wrote: post #34

Earlier quoted context omitted.

Buying one. Citizenship is something that ought to be earned and given to people who show that they want to live in and contribute to a country. People like Schmidt purchase themselves a tax excemption or freedom of movement in a world where ordinary people right now lose their jobs and are locked into their country.

American citizens living and working abroad still must pay taxes to the US Government. As far as I am aware, the US is the only country in the world with this requirement. There is a reason the FBAR requirement is often called the "fubar" requirement.

given the high demand for US citizenship, I don't think it is unreasonable to attach a cost to carry it.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#136

Post by chrismeller »

bduerst wrote: post #52
DSingularity wrote: post #43

Earlier quoted context omitted.

Why do you think Eric has problems traveling?

Americans are currently blocked from travel to many countries, European included, due to the bungling of their Covid 19 response.

I’m sorry, but this is missing the point. You’re forbidden from traveling FROM a country on whatever list (some are outright lists, some are based on the infection rate, etc.).

Traveling FROM the US is the problem, regardless of where your passport is from. Getting a passport (or even a residence card) from an EU country would only allow you to get back to THAT country, it doesn’t just suddenly open up the world to you.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#137

Post by wil421 »

colejohnson66 wrote: post #111
eli_gottlieb wrote: post #105

Earlier quoted context omitted.

The question, then, is why we bothered effectively handing Page and Brin free startup funds without claiming any IP or equity stake in the resulting products, then act surprised when they don't want to pay taxes on the money they made.

Isn’t the US government not allowed to own any IP? I’m pretty sure the Constitution says so. That’s why JPL is a thing; so NASA can pay JPL to do research (giving JPL, a company, the IP).

The US DoD can block any patent or make any patent top secret.

Why would they need to do something like outsource to JPL to get patent? Pretty sure I’ve seen patents by scientists on behalf of the airport?

Re: Eric Schmidt has applied to become a citizen of Cyprus

#138

Post by wukerplank »

pembrook wrote: post #113
areoform wrote: post #67

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

So, what is this? His passion for the Mediterranian? Reconnecting with his ancestor's roots?

BTW: All tax systems are draconian, at least to the middle class. Not to people who can afford creative lawyers.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#139

Post by dragonwriter »

pembrook wrote: post #113
areoform wrote: post #67

If this is indeed for a tax dodge, what's funny is that the US Government helped fund Google. Or, more accurately, they funded the research into the seemingly esoteric problem that became Google; > In 1995, one of the first and most promising MDDS grants went to a computer-science research team at Stanford University with a decade-long history of working with NSF and DARPA grants. The primary objective of this grant…

This is not a tax dodge. There is no way to dodge taxes as a US citizen by moving abroad, the US is the only country in the world with a real global taxation system. EDIT further information I posted below: The US has the unique position of being able to actually enforce this due to the fact the USD is the reserve currency of the world and every country needs to stay on the good side of the US Treasury to transact in…

> There is no way to dodge taxes as a US citizen by moving abroad

Well, no way to "legally avoid"; "dodge" is broader, and there are probably many ways of dodging taxes that are easier if the institutions you deal with in your daily life aren't subject to US jurisdiction and regulations designed to expose tax evasion to US authorities.

Also, typically you want to have at least one national citizenship, so if you are planning to legally avoid US taxes by renouncing US citizenship, getting some other citizenship is usually step one.

Of course, there are other reasons it is convenient to have citizenship in an EU member state, even if you are a US citizen, so its not necessarily step 1 of a tax dodge.

Re: Eric Schmidt has applied to become a citizen of Cyprus

#140

Post by coliveira »

1024core wrote: post #49
Barrin92 wrote: post #34

Earlier quoted context omitted.

Buying one. Citizenship is something that ought to be earned and given to people who show that they want to live in and contribute to a country. People like Schmidt purchase themselves a tax excemption or freedom of movement in a world where ordinary people right now lose their jobs and are locked into their country.

As long as he remains a USC, he will have to pay US tax. Don't get me wrong: I don't like the idea of buying a citizenship at all. But this won't let him escape taxes, if you think that was his intention.

For someone like Eric S., it must be very easy to get a new citizenship, and this will help him to setup some of the schemes that, while legal, will allow him to evade billions of dollars in taxes over his lifetime. I believe this is just a way to simplify his tax dodging schemes.
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