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I think this is the right move for most upper middle class folks. Many big developed and developing countries are increasing their taxes on young people to fun

I think this is the right move for most upper middle class folks. Many big developed and developing countries are increasing their taxes on young people to fund unsustainable pension systems. They are introducing exit taxes, world wide citizen obligations, compulsory reporting overseas, and restricting ease of moving your business elsewhere. https://en.m.wikipedia.org/wiki/Pensions_crisis https://en.m.wikipedia.org/wiki/Pensions_crisis Look up pension bombs. If you predict population will stop growing, who will pay for elderly pension and healthcare where majority of funding goes in developed countries? In times of covid, countries like Australia had greater restriction than China.

immigrantheart 4y ago
Your first and second paragraph seems contradictory or unrelated. Could you explain a bit more?
- searchableguy 4y ago
  If you are a citizen of a single country and they turn authoritarian like Australia in the period of covid, you are at the mercy of them. They may restrict your capital flows, shut off your local bank accounts, make it impossible to get out of the country, and a lot more. Every action they take will impact you directly as the passport holder. So having more passports allow greater freedom and stability in the long run. Nobody would have thought a highly developed western country would refuse citizen entry before covid.
  - immigrantheart 4y ago
    > Many big developed and developing countries are increasing their taxes on young people to fund unsustainable pension systems. They are introducing exit taxes, world wide citizen obligations, compulsory reporting overseas, and restricting ease of moving your business elsewhere. How does 2nd passport skirt world wide citizen obligations, compulsory reporting overseas?
    - searchableguy 4y ago
      You can renounce a citizenship if they become unreasonable. You don't have that option if you are gonna become stateless.
lostmsu 4y ago
Does not make sense for holders of US passports. Population is still growing quickly.
- searchableguy 4y ago
  Pension and healthcare system is still unsustainable though. Even if population is growing, it doesn't always mean you can repay the debt back and keep promises. Someone will get taxed unreasonably in future to fund it.
- UnpossibleJim 4y ago
  The US population, while not declining, has stopped is quick expansion and is headed towards a break even. It grew at 0.1% last year, a record low. https://www.census.gov/library/stories/2021/12/us-population-grew-in-2021-slowest-rate-since-founding-of-the-nation.html https://www.census.gov/library/stories/2021/12/us-population...
  - lostmsu 4y ago
    That's COVID though. In 2021 many countries lost over 1M people each.
    - UnpossibleJim 4y ago
      It's a pretty steady trend downward since the mid 90's.

immigrantheart 4y ago

Your first and second paragraph seems contradictory or unrelated. Could you explain a bit more?

searchableguy 4y ago
If you are a citizen of a single country and they turn authoritarian like Australia in the period of covid, you are at the mercy of them. They may restrict your capital flows, shut off your local bank accounts, make it impossible to get out of the country, and a lot more. Every action they take will impact you directly as the passport holder. So having more passports allow greater freedom and stability in the long run. Nobody would have thought a highly developed western country would refuse citizen entry before covid.
- immigrantheart 4y ago
  > Many big developed and developing countries are increasing their taxes on young people to fund unsustainable pension systems. They are introducing exit taxes, world wide citizen obligations, compulsory reporting overseas, and restricting ease of moving your business elsewhere. How does 2nd passport skirt world wide citizen obligations, compulsory reporting overseas?
  - searchableguy 4y ago
    You can renounce a citizenship if they become unreasonable. You don't have that option if you are gonna become stateless.

lostmsu 4y ago

Does not make sense for holders of US passports. Population is still growing quickly.

searchableguy 4y ago
Pension and healthcare system is still unsustainable though. Even if population is growing, it doesn't always mean you can repay the debt back and keep promises. Someone will get taxed unreasonably in future to fund it.
UnpossibleJim 4y ago
The US population, while not declining, has stopped is quick expansion and is headed towards a break even. It grew at 0.1% last year, a record low. https://www.census.gov/library/stories/2021/12/us-population-grew-in-2021-slowest-rate-since-founding-of-the-nation.html https://www.census.gov/library/stories/2021/12/us-population...
- lostmsu 4y ago
  That's COVID though. In 2021 many countries lost over 1M people each.
  - UnpossibleJim 4y ago
    It's a pretty steady trend downward since the mid 90's.