3 ms·
They'll have to renounce their US citizenship. And the wealth will get reinvested in wherever it produces the highest returns, like it already is right now.
by dkural 6y ago
They'll have to renounce their US citizenship. And the wealth will get reinvested in wherever it produces the highest returns, like it already is right now.
- gridlockd 6y ago> They'll have to renounce their US citizenship. So what? US citizenship has the unique disadvantage of making you a subject to the IRS globally. If the US imposed a wealth tax to the tune of 2-3%, you bet that many nice countries will be welcoming to all that capital in exchange for citizenship. Also consider that most Americans have some sort of heritage abroad. > And the wealth will get reinvested in wherever it produces the highest returns, like it already is right now. Sure, you can still invest into the US market after leaving the sinking ship. On the other hand, a little bit of traveling brings perspective, if you're now a citizen of some other country, why not also invest and build there?