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Attacking rich foreigners for not paying enough <insert tax or contribution> to their adopted homes is fairly common throughout the world, no? America does make
by giobox 5y ago
Attacking rich foreigners for not paying enough <insert tax or contribution> to their adopted homes is fairly common throughout the world, no? America does make it harder to avoid paying tax with a system that taxes income regardless of which country you earned it in, but most of the rest of the world does not work this way.
To use the UK as an example, attacking rich foreigners for their "non-domiciled" tax status is extremely common. This is where you live in the UK, but for tax purposes hide your wealth in another system with lower tax rates, effectively paying no income taxes at all in the UK. Variations of this concept exist throughout the world in many countries and routinely draw politically ire.
Just this week:
https://www.bbc.com/news/uk-politics-61017993 https://www.bbc.com/news/uk-politics-61017993
Wealth coupled with a collection of passports often creates far more opportunities to avoid tax than being stuck under the rules of one single State, rightly or wrongly.
- seanmcdirmid 5y agoBut at least in the USA, the left treats the rich pretty uniformly (no distinction is made between rich born-here citizen, rich citizen immigrant, or rich foreigner). Many don't even know Elon Musk was born in South Africa, nor do they really care. Tax evasion is seen as a moral problem no matter how you accomplish (so hiding it with your other citizenship is just as bad as using a shell company).
- Dracophoenix 5y ago>Tax evasion is seen as a moral problem no matter how you accomplish (so hiding it with your other citizenship is just as bad as using a shell company). Tax evasion is a legal term, not a moral one. Tax evasion isn't a problem in USA given that it has the highest compliance rate in the world. Jurisdictional arbitrage is a freedom and should be protected as such.
- ipaddr 5y agoPeople were being taxed 90% income tax when this shift happened in the 70s.
- deleted 5y ago[deleted]