Posted on 07/06/2002 7:39:09 PM PDT by vannrox
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US Taxpatriates The following links are to the US Government's official lists of Taxpatriates, as compiled quarterly by the IRS, required under 26 USC 877(a)(1). Under this law, the people on this list may be taxed for ten years after they renounced their citizenship. Furthermore. under 8 USC 1182(a)(10)(E)), these persons may not be allowed back into the US for any reason. Even facing these penalties, wealthy US citizens continue to leave the US at an alarming rate. The following lists show conclusively that the exodus of US citizens and their wealth is continuing. What these lists fail to show is the increasing numbers of wealthy US citizens who are just taking their wealth and leaving the US without ever renouncing. Tax haven countries are recording significantly larger and larger numbers of US applicants for permanent residence or second citizenship every year. Those lost investment dollars represent LOST US JOBS. Instead of reducing the number of taxpatriates, these repressive laws have actually increased taxpatriation. But, to make matters worse, they are now taking ALL of their money with them, to prevent it from being taxed for ten years. The "small flood" of taxpatriates predicted by a Forbes Magazine article, "The New Refugees" (Nov 21, 1994 v154 n12 p131(5)) is threatening to become a large flood in the not too distant future. Also see the Forbes article, "And don't come back." (Nov 18, 1996 v158, n12, p44(2)). When big money is forced out of the US, it is the average citizen who has to make up the difference in higher taxes. The Income Tax is costing you money in more ways than you know! (Although the Forbes articles mentioned above have expired from the Forbes web site, they are maintained in text format in several other places on the web. We try to keep our links up-to-date, but with the size of Action America, that is not always possible. If one of the above links should be broken please let us know, so we can point that link at one of the serveral other archives. Thank you.) US TAXPATRIATES |
See related articles:
TICK - TICK - TICK / The Economy Bomb
The Privacy Factor
More Attacks on the Wealthy
Anti-Privacy BLACKLISTS - Fiction or Folly?
See Expatriate sites:
The Sovereign Society
Escape Artist
Expat World
Second Passports
(/humor)
IMHO, this is much too lenient for these tax cheats and deadbeats.
They oughta be tarred, feathered and sentenced to 20 years hard labor on a chain gang busting big rocks into little pebbles.
According to the 1994 article: Bahamas; Ireland; Hong Kong; Singapore; Belize; the Cayman Islands; Israel.
Israel?
As much as I respect the Israelis, I will pay the US taxes rather than be blown up.
Hong Kong?
I have no desire to kiss the butts of the ChiComs.
Bahamas? Belize?
Nope.
Ireland?
Might not be bad but what are the current tax rates?
Far be it for people to want to keep more of their own money rather than surrendering it to a federal fascist government.
Whatever little credibility you had, you just obliterated.
"If ye love wealth greater than liberty, the tranquility of servitude greater than the animating contest for freedom, go home from us in peace. We seek not your consul, nor your arms. Crouch down and lick the hand that feeds you. May your chains set lightly upon you; and may posterity forget ye were our countrymen."These slimeballs disgrace our Founding Fathers, our Constitution and our American heritatge when they RENOUNCED their citizenship. The pansy-arses have no spine or gumption to work within the system created by our Founders to change the policies with which they disagree. I have absolutely no respect for such sleezy, decrepit, wheedling little invertebrates. They're worse than the dope-smoking hippie draft dodgers who slithered off to Canada back in the '60s. The heck with 'em.-- Samuel Adams
Bullsh*t ... they are simply doing the same thing that millions of immigrants did in Europe when taxes and times got tough. They left.
Tell me how you can support something akin to the Berlin Wall where citizens of a 'free country' can't leave at will.
I am an American and I love my country but our system is BROKEN and needs to be fixed.
The ballot boxes and the jury boxes are not going to fix the problem as it is too far gone for that. WE are at the soap box stage; God help us all if it should go to the last box.
I don't give a rat's patoot if they leave.
But in the renunciation of their citizenship they mock our Founders, our Flag and all those who served and died in battle to win and defend our freedom and liberty.
You sympathize with these sleezebags?
Fine. You and your little Halloween centurion costume can leave with 'em.
Go find a nice little chalet in France and become a surrender monkey.
It's fitting.
And afterwards, they should be treated exactly like any other foreign national if they seek to return or do business here.
I must confess to having considered the same strategy myself - it seems like someone would have to be some kinda sucker to allow themself to be taxed at today's onerous rates, and it doesn't look to be getting any better.
Of course if I wanted to be a **REAL SUCKER** I suppose I could relocate to Australia or New Zealand.
Obviously you do; worried that your government-handout check may shrink because the rich are leaving or are you just envious of their wealth and mobility ?
If money alone is the reason why they renounced their citizenship they should be banished from the US. Where are these great "achievers" going? Canada? Europe? Japan? Israel? The Bahamas?
Are the tax rates too high? Yes, however that is not a reason to leave. If that is the driving reason for leaving then the US never meant a damn thing to them to begin with and they are no more than the Ted Turner types that you would be spitting on in a different thread. The majority of the very rich are closer to Peter Keating than anyone else from Ayn Rand's novels.
Ahhh yes, the same rich that push for government-run healthcare and gun bans while they have private doctors and security forces protecting them. Yes, let's all envy the majority of the rich people in the country, let's envy a bunch of people that fancy themselves "sympathetic with the working class." You have money, so what? That in and of itself is absolutely irrelevant to what type of person you are. If you don't think that the US is worth trying to fix then get the f@#$ out and never return.
I don't envy the rich, I don't receive a handout check and I earn my money. Do I want to pay the federal taxes I do? Of course not. I'm probably going to withdraw from medicare and social security eventually so I can put that money toward private healthcare and retirement programs. You want to bring the system down? Do that! Anyone rich enough to go through this bull$hit process knows that that is a perfectly viable option that will do a lot of damage to the system. I say leave and take the Streisands, Baldwins, Bradys, Clintons, Falwells and other anti-Americans with you while you're at it.
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