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>4. Owning property in a country or state should make you a tax resident of that jurisdiction. How should that work in practice? Should a person who owns home
by Red_Leaves_Flyy 5y ago
>4. Owning property in a country or state should make you a tax resident of that jurisdiction.
How should that work in practice?
Should a person who owns homes in Connecticut, California, New York, D.C., Virginia, Florida, Alps, Paris, Hong Kong, London, Etc be paying state taxes in every jurisdiction? I'm asking in earnest, and want billionaires to pay significantly more in taxes per dollar of gains and wealth than, e.g. Americans making median income, but how can that be enforced when it's less expensive to bribe/extort a politician/party than it is to pay their fair share?
- crmd 5y agoYes, they would have a tax liability in each location, with foreign tax credit offsets. So they end up paying whatever is the highest tax rate.