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TFA doesn't really explain this, but for the majority of people affected, it's not the amount of taxes but the hassle that matters most. The USA has squandered
by wrp 2y ago
TFA doesn't really explain this, but for the majority of people affected, it's not the amount of taxes but the hassle that matters most. The USA has squandered a lot of goodwill, driving many of those "accidental Americans" to renounce their US citizenship. The people supporting the current policy, like the Notre Dame prof quoted in TFA, are so focused on sticking it to the rich, they ignore the effects on average people.
- voisin 2y agoIt is also the amount of taxes in that many retirement savings plans in different countries are not recognized in the US, as American retirement savings plans are not recognized elsewhere, creating an impossibility of tax deferred retirement savings plans. This affects average people much more so than the rich.