On a lighter note, $2350 is still pretty cheap to get rid of the IRS forever. When it goes to $25,000, time to panic.
Berlin wall? You don’t have to renounce your citizenship to leave the country. Leave whenever you like. Not much of a wall.
I’ve been saying for years they will never build walls at the border unless they’re trying to keep us from escaping
A fee to leave...wow!
That doesn’t include the Expatriation tax.
Like every failing socialist regime, we don’t build fences to keep people out, we build barriers to keep them in.*
*Apologies to whoever first said this because I don’t recall where I first heard it.
I believe that it was Milton Friedman who observed that, when a nation enacts higher barriers to “capital flight,” it is well on its way to banana republic status.
The price to denounce one’s citizenship should be FREE. we have already paid for these bureaucrats. $2,350 is absurd. people will just leave and won’t bother renouncing.
Unlike East Germans, North Koreans, Poles, etc. we are very heavily armed.
Get rid of the income tax and IRS altogether and we won’t need to worry about people leaving.
But...it’s not going to happen because our corrupt leaders would have no control over our entire lives.
F U B O! & THE IRS
If you are not free to leave, you are not free.
Straight out of the Soviet Union.
In a Communist State, you are their property. Everything you have, they own, and you got it only because they gave it to you.
Thus the rationale for fees.
Straight on Communism.
That's exactly what it is.Unless the government can prove that cash (any amount) you want to take out of the country was illegally obtained (drugs,for example) there should be no impediments to so doing.This should go to SCOTUS.
The mechanics of expatriation FWIW: You go to a U.S. embassy or consulate (you have to be abroad to expatriate yourself). You swear a renunciation oath, sign in triplicate and leave the embassy.
About three months later, after DC lawyers agree that you're not insane nor pulling a stunt, you get a Certificate of Loss of Nationality (CLN) back dated to the day you swore the oath.
Now you're no longer an American. You may be something else - you may even be "stateless". If you want to visit the folks in Kansas, you'll need a visa (or just walk across from Mexico).
Yet, we'll pay to let the illegals come in.
Unreal.
SOON Sam, SOON
It’s a good question whether such exit taxes will work, or if people will just leave and go to countries that are not very demanding about paperwork. The government is only interested in the money, so if someone launders their money out first, then just goes, as long as they keep it liquid, they might get away with it.
They won’t be doing any business elsewhere, so it is basically just retirement.
Only thing wrong with their plan is 30% is not high enough.
Worth noting that they are not charging for relinquishment of citizenship - just renunciation.
Just claim we are leaving for sake of gang violence. It’s good enough for illegals from Honduras it’s good enough for people leaving the gangsters in DC.
By the way. I’m travelling the world currently...
Fast forward to the 21’55” mark: http://crooksandliars.com/2014/08/joe-stiglitz-we-need-fair-taxes-all
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