41–50 of 734 posts
Does anyone know the mechanism by which they can possibly make the out of state tax stick? If it doesn't, I'd probably move to the Midwest. If it does, there are other citizenships.
Does anyone know the mechanism by which they can possibly make the out of state tax stick? If it doesn't, I'd probably move to the Midwest. If it does, there are other citizenships.
Even if you give up US citizenship, which requires something like paying taxes on all unrealized gains and ten years of projected earnings before they let you out of the US, the feds still go after your estate for estate taxes when you die no matter how long you have been gone from the US.
And good luck getting back in for a visit after relinquishing your citizenship.
This all started with laws passed after the Dart family, wealthy for styrofoam cups, gave up their citizenship and left the US (how dare they!), see [1].
[1] https://www.latimes.com/archives/la-xpm-2008-jun-15-fi-perfi...
Great way to help further diversify the Texas economy. I want to thank the Californians who voted in these politicians.
> Today, California’s wealthiest 1% pay approximately 46% of total state income taxes. Adding the wealth tax to individual taxes and including those taxpayers who have abandoned California, the combination of the two proposals would have 1% of the state’s population paying about 53% of individual taxes. This is insane. That 1% will simply pick up and leave and the state will end up in a long expensive legal battle to…
ungated: https://archive.is/v9pLw
Does anyone know the mechanism by which they can possibly make the out of state tax stick? If it doesn't, I'd probably move to the Midwest. If it does, there are other citizenships.
The federal government does something worse, you pay federal income tax on all income no matter where it is made and what country you are living in (with the exception of some deductions for income taxes paid to other countries one is living in). Other countries only make you pay taxes for income generated there. Even if you give up US citizenship, which requires something like paying taxes on all unrealized gains an…
Insanely good weather is not an universal counterweight to every hare-brained idea that the political class may come up with. This sounds as a repellent to foreign capital as well, not just richer Americans.
I'm not sure what the problem is. When Democrat supporters demand more more more via the politicians who promise more more more, where did they think the money would come from? Believe it or not, the bottom ~50% don't have enough money to tax. The next 30-40% have some but not enough to raise enough money to help. The taxes have to be focused on the top 10% and more likely the top 1-3% to raise enough to meet these d…
>Taxing someone who spends only 60 days in the state in any single year—and extending that tax over an ensuing decade—would be something new under the sun. Wow. That's nuts.