4 ms·

If you are an american citizen, you are taxed no matter where you live.

• okokwhatever 3y ago
  if you're an american citizen you're just a small percentage of all the human race paying wild taxes.
  • jwestbury 3y ago
    True -- but the ultrawealthy are largely concentrated in the USA. There are substantial impacts from renouncing for tax purposes, as well -- for instance, the Reed Amendment means that people who renounce their citizenship to avoid paying taxes are barred from entering the USA in perpetuity. Additionally, there is an exit tax which captures unrealized gains upon renunciation. So, yes, American citizens are a small percentage, but if the USA adopted wealth taxes, it would have an outsized global impact.
    • okokwhatever 3y ago
      Yes, but my point was global. Everybody knows where the wealth is located but taxes and confiscation affects every country around the world event the poorer ones.