Umm riddle me this ratman; if you move all your transactions overseas, how do you use that money here at home? At some point money would have to move back into this country for you to use it, at which time the tax would kick in. Otherwise you would have to move overseas, and be subjected to even more progressive, socialist tax schemes.
I haven't thought through this proposal so I won't accept or dismiss it out of hand, but I like the idea that other people are starting to think about a better way of dealing with taxes.
Its not the taxes I mind paying (although the lower the better), I object to the all the crap, hoops, loopholes, and other .... stuff, in our overly complex tax code.
The IRS HAS TO GO!
This has to be a record -- I posted on this thread six weeks ago!
Anyway, the dollars never have to come back to the USA. The dollar is a global currency. Dollars have been deposited overseas since WWII. Foreign transactions are settled in dollars all over the world.
The strong nations since the War (Germany, Japan) built their reserves in dollars, not gold. Same now with India and China and South Korea. The Dollar is as much a part of American Global Power and influence as our military and our global brands.
Why is the Dollar so strong? Bewcause it's the currency of our free country -- free politically, free financially. Taxing transactions in this country would be an unmitigated disaster, and nobody with any knowledge of our economy or international finance would seriesly consider it.