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To: SeekAndFind

Some of them are going to the Caymans. Since the U.S. taxes the money U.S. citizens make abroad, some rich people are renouncing their citizenship.


112 posted on 04/12/2010 9:09:27 AM PDT by ottbmare (I could agree wth you, but then we'd both be wrong.)
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To: ottbmare
Since the U.S. taxes the money U.S. citizens make abroad, some rich people are renouncing their citizenship.

A recently passed law deals with those renouncing their citizenship. One day before it becomes effective, all your property is deemed "sold" and you owe a very large tax to the U.S. government based upon the "deemed" value of that sale.

157 posted on 04/12/2010 10:25:36 AM PDT by Myrddin
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