The unique aspect of the US model isn't that they tax income worldwide - it's that they tax income worldwide on citizens who reside anywhere in the world. As a

The unique aspect of the US model isn't that they tax income worldwide - it's that they tax income worldwide on citizens who reside anywhere in the world. As an Australian who lives in Australia, I have to pay Australian income tax on any income I make from overseas assets as long as I am an Australian resident for tax purposes. This kind of taxation policy is pretty standard as far as I know. The problems with offshore income are that you can often bury the income in a twisted maze of companies and trusts that are under your control - not that the personal income tax laws of your country don't tax foreign source income.