Posted on 12/07/2014 7:58:17 PM PST by Theoria
Lots of crime there - many expats are moving to panama... Great people, the Panamanians.
I think holding dual citizenship ought to be abolished.
You cannot have divided loyalties. One will always be more than another.
My tax proposal....
16% flat tax on every dollar spent ....
Divided 4 ways, Feds, state, county and cities, 4% each.
Operate within that 4% budget....period
Businesses alone report taxes, not individuals.
No exemptions. No special taxes like gas tax, phone tax, utility tax etc ...
Just 16% of the dollar you spend not earn.
Is there any way around this? I would like to open an account in my other country. Do you have to show your blue passport? Can you get by if you just show the other one?
I think holding dual citizenship ought to be abolished.
You cannot have divided loyalties. One will always be more than another.
Can’t be done. Citizenship is conferred upon one.
Eliminate Inheritance Tax.
I am unclear as to what you mean.
Renounce your citizenship then live here as an undocumented worker. The feds have no problems with people illegally in this country staying here, working, and sending billions of dollars abroad.
You may have to register as a Democrat to avoid prosecution, however.
Of course that would not be relevant if the government did not regard itself as our master.
No extradition treaty with the U.S., so I've heard. Big plus.
The fair tax is what you are describing, without the “prebate” portion.
There was a 6.0 earthquake in Panama and Costa Rica a few days ago and a 6.7 earthquake today.....just saying.
You may be able to get by, however, you are still a US citizen. Besides being required to file US tax returns every year even though you live overseas { if you were required to file if you lived in the US } , you also have to file an annual FBAR form with the IRS if you have a total of more than $10,000 in foreign bank accounts. Failure to do so results in a $10,000 fine and a possible 5 year prison term for each year the form isn't filed. This is even if you don't owe one penny in taxes.
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