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Not only that. If you renounce citizenship you are exit taxed on all your assets worth over 2 mil as a disincentive to high net worth individuals from jumping s
by flarex 5y ago
Not only that. If you renounce citizenship you are exit taxed on all your assets worth over 2 mil as a disincentive to high net worth individuals from jumping ship. Most aggressive tax regime in the world in many respects.
- cainxinth 5y agoIf you have over $2m, the argument that U.S. taxation is extortion is even less convincing. Such people have the means to hire lawyers and grease the wheels to emigrate to a wide swath of countries. The most desirable places often have high tax rates, though. Funny how it works out like that.