US Green card loses allure as taxman takes bigger cut

South China Morning Post ^ | April 6, 2010 | Irene Jay Liu

[thecodont]

One example, Field said, was when people who, born of one American parent and a foreign parent, are considered US citizens. They may have never travelled to the US, learned English or obtained a passport, but they are subject to reporting and tax laws in the US.

Really?

[MtnClimber]

Why would anyone want to live in a country trending increasingly toward totalitarism marxism?

[Brilliant]

“The numbers dipped to double digits in 2008, when the government created an “exit tax” on assets that made it expensive for the wealthy to give up their passports or green cards.”

The US version of the Berlin Wall.

[mamelukesabre]

Intelligent people and people with money are staying away from america. We still get the stupid destitute leaches looking for a free ride.

Nice.

[ConservativeMind]

BTTT.

[Drew68]

Intelligent people and people with money are staying away from america. We still get the stupid destitute leaches looking for a free ride.

With policies in place that take from the productive and give to the layabouts, I wouldn't expect anything different.

[mainsail that]

One example, Field said, was when people who, born of one American parent and a foreign parent, are considered US citizens. They may have never travelled to the US, learned English or obtained a passport, but they are subject to reporting and tax laws in the US.

This is insane, without knowing, taking an oath or signing anywhere you were liable to be jailed and bankrupted by IRS no matter where you live.

[mamelukesabre]

For the first time in my life, I’m not proud to be american.

[rockinqsranch]

“We still get the stupid destitute leaches looking for a free ride.”

Yup, that’s right, and all they need to do is vote for the Leftists.

[crazyhorse691]

“The most authoritative English-language news on Greater China”, from their website(subscribe for only US$51.50). My feeling is that it is just an arm of their government.

[max americana]

My GF is a greencard holder from Canada. How where you able to get the entire article when it’s by subscription?

[April Lexington]

This is depressing news...

[max americana]

I’m originally from BC, and canada is looking to be more capitalistic, believe it or not. If you cannot pay your monthly health premiums, just kindly write a 1 page letter why and the Canadian govt will waive it for you. I have had friends and family do it, and the govt trusts the citizens.

Here, you go to damn jail.

[mamelukesabre]

LOL

See post #9

[Kellis91789]

Exactly. I’m constantly surprised by the otherwise educated Conservatives I know that have no inkling that they no longer really have the option of simply moving to another country when the US slips too far toward socialism.

If you have enough assets, the IRS will hound you for TEN YEARS after you renounce citizenship. That is AFTER they demand the 50%+ death tax from you. That’s right. If you renounce citizenship, they want half your assets — as though you had died.

If this policy doesn’t make it clear that the government preys on the wealthy, nothing does.

[mainsail that]

Kellis, you are talking about $10,000 cumulative or more accounts as well!

So so guy named Woo in S Korea, with an American parent but a happy Korean citizen, can get a letter when he is 40, demanding that he file taxes with the IRS for the past 20 years. That means a financial disaster for virtually everyone. You can bet that soon IRS will be able to wire the cash from your foreign account to their account to satisfy any payment that they say it’s due.

Ignorance of the law, I am sure will not matter, despite the fact he might not have even visited USA. How is this fair, or American?

[thecodont]

One example, Field said, was when people who, born of one American parent and a foreign parent, are considered US citizens. They may have never travelled to the US, learned English or obtained a passport, but they are subject to reporting and tax laws in the US.

I think this phrase stands out like a sore thumb in this article. Your thoughts?

[CORedneck]

The ironic thing is if a foreign country has imposed the very complex tax system on us that we have, it would be considered an act of war. Why do we put up with such complex tax laws that can snare the most innocent person and makes compliance with the nit picky details impossible !