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This isn't good for the class of people who want to raise tax on the wealthy. What if this becomes a thing and all those people the day you tried to tax them th
by DeonPenny 6y ago
This isn't good for the class of people who want to raise tax on the wealthy. What if this becomes a thing and all those people the day you tried to tax them threw their american passport in the ocean.
- mikeyouse 6y agoIn theory they still owe exit tax.. https://americansoverseas.org/en/knowledge-centre/us-taxes-and-liability/exit-tax-us/ https://americansoverseas.org/en/knowledge-centre/us-taxes-a... I suppose you could just toss it in the ocean and not formally renounce your citizenship, but you’d need to keep up on your taxes to avoid it in the future.
- lumost 6y agoMost wealthy americans own assets in the US. The ability to tax those assets doesn't change when they are sold to other wealthy owners. It would be an erroneous assumption that those in favor of taxing assets such as housing are opposed to housing falling in cost.