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Wealthy people are renouncing American citizenship

axios.com

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Re: Wealthy people are renouncing American citizenship

#871

Post by [deleted] »

zarkov99 wrote: post #859
revolvingocelot wrote: post #497

Earlier quoted context omitted.

The problem with your supposition here is that America's rich have been already acting like "corrupt, racist, oppressive, hypocriptical imperialists" for at least 120 years. United Fruit Company[0], the Business Plot[1], etc. For the rich, it has always been morally acceptable to cheat the system. The 20th century saw the establishment of pensions, then they were raided barely a generation afterwards. I think what yo…

Many, if not most, of American's rich are self-made, most obviously in tech, where the amount of wealth accrued to Gen X's and Millennial boggles the mind. Does your indictment extent to those people was well, or is reserved for people whose parents were rich?

[deleted]

Re: Wealthy people are renouncing American citizenship

#872

Post by revolvingocelot »

zarkov99 wrote: post #859
revolvingocelot wrote: post #497

Earlier quoted context omitted.

The problem with your supposition here is that America's rich have been already acting like "corrupt, racist, oppressive, hypocriptical imperialists" for at least 120 years. United Fruit Company[0], the Business Plot[1], etc. For the rich, it has always been morally acceptable to cheat the system. The 20th century saw the establishment of pensions, then they were raided barely a generation afterwards. I think what yo…

Many, if not most, of American's rich are self-made, most obviously in tech, where the amount of wealth accrued to Gen X's and Millennial boggles the mind. Does your indictment extent to those people was well, or is reserved for people whose parents were rich?

You're trying to muddy the waters by bringing up "high" tech salaries, given that we're both tech people. But we don't really make society-shaping decisions by bribing politicians (well, I don't). The sort of people who do, and the sort of people I'm referring to, and the sort of entitled cheating of The System that I object to, is well illustrated by this: https://www.propublica.org/article/secret-irs-files-reveal-h...

Turning a $20 million donation into a $500 million tax break is both enriching oneself and starving everyone else. My "indictment" is a mere recognizance of what's in front of me. What does this look like to you?

Re: Wealthy people are renouncing American citizenship

#873

Post by maceurt »

academia_hack wrote: post #42

It's so irritating to be an American that has moved overseas. Basically the only country in the world that charges taxes on money you make and spend somewhere else, just because of where you were born. Thanks to IRS regulations, 90% of investment firms will just reject me outright rather than deal with the paperwork. Getting someone to help file my inordinately complex taxes costs thousands of dollars more than I act…

To be fair, the United States is also one of the only countries with birth right citizenship.

Re: Wealthy people are renouncing American citizenship

#874

Post by DamnYuppie »

estebank wrote: post #429
DamnYuppie wrote: post #310

Earlier quoted context omitted.

You don't have to be a US citizen to purchase property in the country. This is the same for many of the European, Central/South American and South East Asian countries. Is it as straightforward as being a citizen no, but it can usually be done without much extra effort.

Also, given the exit tax, he'll have to pay taxes on them as if he had sold the properties, despite the properties not having been sold.

My reading of the exit tax is it is merely paying all the taxes on any gains that you have made but have yet to pay. For example if you have bought stock but not sold it you would be taxed on the gains you made. This applies to real-estate and other holdings as well.

To me this makes sense it is like you paying your final taxes before leaving as such I don't see how it is anything additional but I could very well be mistaken.

Re: Wealthy people are renouncing American citizenship

#875

Post by viztor »

aerostable_slug wrote: post #727
maxerickson wrote: post #663

Earlier quoted context omitted.

https://news.ycombinator.com/item?id=23559004

If non-PC thoughts are against the rules, post those rules in the acceptable use policy. I don't think it's hateful to critically discuss BLM. I do think it's hateful to say "x group is bad", but that's not what I read. I believe BLM to be led by Marxists and that is backed up by objective evidence. I'm not sure why that's controversial. It's also objectively true that George Floyd had a criminal record. Again, I'm n…

It doesn't take Einstein to understand that George Floyd could just be anyone in that scenario.

To focus on his personal history is simply irrelevant and is in disrespect of the judicial branch and the principle on the separation of powers. No one is contending the truthfulness of his criminal history, but he didn't die as a result of that, he died as a result of the disregard of human life by an officer of the executive branch.

Even if you don't like BLM, which is okay, it stretches too far to claim it a terrorist group.

Please don't just reduce it to 'facts you don't like', facts won't get you banned, but those claims the OP made are more than that.

Re: Wealthy people are renouncing American citizenship

#876

Post by neilpointer »

If I were financially capable of doing so, watching the rising tide of idiocy and illiberalism in America, I'd renounce my citizenship too. Not sure why Axios so unquestionably assumes the only reason is taxes imposed by the Biden Administration rather than a feeling of "why am I supporting this garbage society from the other side of the world?"

It's been going downhill since The Tea Party.

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