4 ms·

Are you aware that the USA taxes worldwide income of US citizens?

• modeless 6y ago
  And before someone counters that you can renounce your citizenship, they tax that too.
  • deleted 6y ago
    [deleted]
  • deleted 6y ago
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  • sebmellen 6y ago
    Correct, it costs somewhere in the range of $5,000 to revoke your citizenship.
    • modeless 6y ago
      No, that's just the fee. There is also a tax and it can cost a whole lot more than $5k.
• codegeek 6y ago
  I don't like it particularly but let's be specific here. There is a threshold until which you don't get taxed. I remember it used to be about 90K USD/Year but I am too lazy to google right now.
  • nostrebored 6y ago
    Right, so basically the majority of middle to upper-middle class expats. People with enough money to be 'fat cats' have tax shelters.
• marcinzm 6y ago
  You can renounce your citizenship and pay the related fees/taxes for X years. Granted, you need to leave early and not just right before a windfall but if you really philosophically disagree with the contract (rather than just being greedy) then that's not much of an issue. Of course, most people who talk about this are totally fine with having the advantages of the social contract but wish to skip out once they need to pay up for them.