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Derek Sivers Renounces his US Citizenship

federalregister.gov

111–120 of 178 posts

Re: Derek Sivers Renounces his US Citizenship

#111

Earlier quoted context omitted.

But then you still have to pay taxes on worldwide income right?

The tax system for overseas income is complicated , especially if you hold foreign assets (bank accounts or corporate interest), but the short version is that any income earned as an employee up to ~$95,000 can be excluded. It's called the foreign earned income exclusion.

I didn't think it was that complicated at all. I held assets in Canada while working in the US and all I had to do was declare what they were and how much.

i.e. Mutual fund account - $32K

Re: Derek Sivers Renounces his US Citizenship

#112
post #31

Earlier quoted context omitted.

...Obama has a propsal to tax entrepreneurs? Rant time: I despise what political discourse in this country has become. Rather than talk about policy we've trained everyone (like marshallp here) to regurgitate sound bites about how this or that politician is "gonna go all out" to do whatever evil thing sounds fun this week. Look: tax policy is a bunch of boring laws. You can read them if you like. You can look at prop…

One of the pay-fors for the PPACA is a 3.8 additional tax on investment income above a certain level. Successful entrepreneurs looking to take some money out of their business have a good chance of hitting this tax.

Exactly! So a very broad increase in tax on all (!) investments by all (!) high income individuals becomes a "tax on entrepreneurs", because the specifics don't seem so scary unless you make it sound like it hurts something important.

Here's the snopes page on that very tax: http://www.snopes.com/politics/taxes/realestate.asp Amusingly, the spin it's trying to fight is that it's a tax on "home buyers". Apparently the "entrepreneurs" angle is a new one.

It's a tax. Is it a bad one? Dunno, I think on balance an increase in the capital gains rate (which is sort of what this is) gated on income level isn't a bad way to raise that revenue. You have a different suggestion?

Re: Derek Sivers Renounces his US Citizenship

#113
post #90

EDIT: 48 upvotes in an hour and this submission just jumped from top 10 to second page? WTF? Honestly, the US is the most invasive government in the "free" world I've had the misfortune to encounter. I can't think of another developed nation that is quite so overbearing when it comes to foreign income. US citizens who haven't been in the US for 40 years and work in other countries STILL need to report their income to…

Many americans don't seem to understand this because they've grown up in the US media bubble and were educated in US schools which don't tend to really accurately portray the rest of the world.

Going out and living in other countries you find how impressively different things can be.

For instance, an acquaintance of mine who is a medical doctor who treats terminally ill patients, had his life ruined (and is in jail now) because the DEA decided he was writing too many prescriptions. Those same drugs- that he determined were medically necessary and he's a DOCTOR, can be bought over the counter in Chile, and many other countries south of the US border. Walking around chile you don't see a lot of stoners or drug addicts (in fact, I haven't seen any homeless at all) compared to the USA.

Nevermind that the person who decided he was writing "too many" of these prescriptions has no medical training and was doing so based on what amounts to a quota system whereby over time patients are increasingly denied the drugs they need as their doctors become afraid of the same fate that befell my acquaintance. This fear causes fewer prescriptions to be written over all, lowering the standard for "too many", causing those who didn't deny their patients the drugs they need to be prosecuted, installing more few, further lowering the numbers, etc. It is a self reinforcing cycle.

So, please tell me why a doctor had his life ruined for giving his patients- terminally ill, remember- prescriptions for drugs that you can buy over the counter in many countries? Please tell me why the USA is pursuing a program that ensures that ill people are in agony?

It is because the USA has gone off the deep end in certain areas.

Yet attempting to defend this doctor to others who also went to high school with him, mostly got no sympathy. To those americans' eyes he was a "Drug dealer" and a "scourge on society."

Re: Derek Sivers Renounces his US Citizenship

#114
post #40

Earlier quoted context omitted.

> some countries like in US while pulling up your name they can see all nationalities you have How does a third world tell US which are its citizens. Doubt there is a global citizenship database? Is there?

I would imagine by now there are some treaties between most nations that exchange such information. There is also passporting system. You gave them any sort of passport (at least here in US) and they will look it up in the computer. They have to be looking up some sort of database, right?) I could imagine someone holding so many citizenships would be very valuable asset to government agency that hire spies.

Indeed there are! This one is just for signals intelligence, but you can be sure that they share a lot more than that.

http://en.wikipedia.org/wiki/UKUSA_Agreement

"The United Kingdom – United States of America Agreement (UKUSA, /juːkuːˈsɑː/ ew-koo-sah)[1][2] is a multilateral agreement for cooperation in signals intelligence among the United Kingdom, the United States, Canada, Australia, and New Zealand."

Re: Derek Sivers Renounces his US Citizenship

#115

Does anyone know why? Tax purposes, political protest, or what? Also: it's funny that the government misspells the acronym of their own law, HIPAA.

There's been talk recently of wealthy americans fleeing the country for tax reasons. If Obama gets reelected, as is expected, he's gonna go all out in his second term (I'm an Obama supporter but I dislike the idea of taxing the entrepreneurs more to fund the lazy government workers).

Obama is not your king... he doesn't make the laws (I know he can, but he'd be impeached faster than you can say "WTF"). You should broaden your view and... blame more people, I guess...

Re: Derek Sivers Renounces his US Citizenship

#116
post #35

Not sure if he reason is tax related, but I will say this...I'm not starting a company abroad without renouncing my US citizenship. I've been living in and out of the US for the last 4 years now and the fact that we get taxed when we are outside of the country is ludicrous to say the least. Are we really that arrogant?

Don't be hasty - there are a lot of ways to hide your foreign income from the IRS. Find them and do it...

Re: Derek Sivers Renounces his US Citizenship

#117
post #79

Earlier quoted context omitted.

The idealogically pure idea of stateless citizens working in harmony of their own free accord is a fantasy that doesn't mesh with reality and just as dangerous as any Marxist Communist fantasy. In the right here and right now states are far from perfect, and we are in the middle of a period where lots of forces are pushing for greater consolidation of power in the hands of the state. But the benefit of having governm…

In what way is communism dangerous? I fail to see any inherent danger in a form of society that distributes its wealth evenly across its citizens.

An example of how and why this will always fail is well presented in the story of the Twentieth Century Motor corporation. A reading of an excerpt can be found here: https://www.youtube.com/watch?v=KCmJUobwKQk

If you'd prefer text here's one: https://thesnarkwhohuntsback.wordpress.com/favorite-passages...

Re: Derek Sivers Renounces his US Citizenship

#118
post #79

Earlier quoted context omitted.

In what way is communism dangerous? I fail to see any inherent danger in a form of society that distributes its wealth evenly across its citizens.

It requires the use of force to redistribute weatlh. It also removes the price mechanism, thus robbing the people of information required to produce and evaluate.

What if we just gave everyone like vouchers or something that they could use to trade for whatever they wanted? Although, how do we encourage people to do work that's more important than other work? Or people who have skills that are in short supply? And how do we make sure that people don't hog the stuff that takes a lot more work to produce? Maybe if we gave people more vouchers if they worked in more difficult or more needed jobs, and maybe we could make it so that the stuff that takes more work to produce requires more vouchers to trade for. But then how do we set the values for such things? Who could possibly collect enough information to get all the ratios right? Oh wait, who knows better than the people who use goods and services? What if we just let them set their own rates for voucher exchanges and let everyone sort out things on their own? That way people who have skills that are rarer or more needed by the public will be able to collect more vouchers and people can choose what goods and services are most important to them personally by deciding how many of their vouchers they're willing to give up for them.

There you go, I think I fixed communism.

Re: Derek Sivers Renounces his US Citizenship

#119
post #90

EDIT: 48 upvotes in an hour and this submission just jumped from top 10 to second page? WTF? Honestly, the US is the most invasive government in the "free" world I've had the misfortune to encounter. I can't think of another developed nation that is quite so overbearing when it comes to foreign income. US citizens who haven't been in the US for 40 years and work in other countries STILL need to report their income to…

Many americans don't seem to understand this because they've grown up in the US media bubble and were educated in US schools which don't tend to really accurately portray the rest of the world. Going out and living in other countries you find how impressively different things can be. For instance, an acquaintance of mine who is a medical doctor who treats terminally ill patients, had his life ruined (and is in jail n…

There's a lot more to this story you're not disclosing. The DEA doesn't just imprison someone overnight because "decided he was writing too many prescriptions".

Re: Derek Sivers Renounces his US Citizenship

#120
post #29

Earlier quoted context omitted.

Maybe, but if you're in a country that's going to hell (Russia invades Georgia, Rwanda in 1994) and you're a U.S. citizen, you can be evacuated. In addition, if you're captured in the United States and labeled a "terrorist," you're less likely to be tortured and held in "black" facilities if you're a U.S. citizen. Perhaps not an optimal reason, but it still exists.

The U.S. embassy has evacuated my family and we're still paying for it. It's not free. We could have hired a private militia and escaped to safety for 5% of what we paid the state department.

You should do a reddit AMA. I'm sure many people would like to hear your story.
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