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"The exit “tax” seems the most alarming to me. Though it’s called a tax, it’s really just confiscation. And if you look at the other countries in history that h
by flexie 7y ago
"The exit “tax” seems the most alarming to me. Though it’s called a tax, it’s really just confiscation. And if you look at the other countries in history that have confiscated the property of people who tried to leave, it’s not company you’d want to be in"
- Denmark currently has what is in effect an exit tax on rich people. It's a complicated tax and changed all the time in order to dodge EU requirements on the freedom of movement between EU countries.
PG probably wouldn't want to be in Denmark since after all he exchanged chilly and grey England with warm and sunny California, but Denmark is hardly among the worst places in the world in which to live or do business.
- aliceryhl 7y agoWhat is this tax called? As someone who lives in Denmark, it would be nice to know.
- mjul 7y agoIt is called “fraflytteraktieavanceskat”. It is a capital gains tax for equities that can be paid at once as if you had sold the shares, or you can delay it by filling out a form every year to the Danish tax authorities after moving abroad.
- radres 7y agoCapital gains tax is not the same as exit tax though?
- anovikov 7y agoWell capital gains tax is pretty much normal, it exists in most places. As for exit tax in the U.S., i really wonder how one could enforce it. So if you left the country and have another passport (otherwise you couldn't drop U.S. citizenship), what can they possibly do to you? I don't think this absurd leftist idea even deserves much attention or comments, someone just said bs without thinking of it much.
- andyjpb 7y agoYou'd have to self impose exile. You are required to enter the US on your US passport if you have one. If you wanted to go back (say to the funeral of a friend, or something equally important) then they could detain you until you paid what they thought was due.
- flexie 7y agoIn popular terms "havelågebeskatning", formally the tax authorities actually refer to it as the "exitskat" (exit tax): https://skat.dk/skat.aspx?oid=2176214 https://skat.dk/skat.aspx?oid=2176214
- aguyfromnb 7y ago>Though it’s called a tax, it’s really just confiscation. After all, they earned their money through hard work alone, with no help from the infrastructure, education system and social policies of the country. And now that they have an ungodly pile of it, they should be able to take it to whichever new country will require them to give back the least, and stop contributing to the country that made them rich.
- nickpp 7y agoYes, they earned their money legally. And yes, they already paid tax on said money in the country they earned them. Those are the only two facts that should matter. The rest is just snark.
- hoseja 7y agoJust as they are free to psychopathically exploit every tax loophole they can get their hands on, so are countries free to close them.
- nickpp 7y agoThe exit tax is not closing any tax loophole. Is just a second, punitive, confiscatory tax on money already taxed.
- yodsanklai 7y ago> they already paid tax When do you consider someone paid enough tax?
- nickpp 7y agoWhen the IRS says so. Or when do YOU consider someone paid enough tax?
- emiliobumachar 7y agoThe IRS mostly follows the law. Proposals to change the law to raise taxes or close loopholes exceed the "IRS said so" criteria.