How about reducing the tax rate instead?
Leave it to Schmucker to come up with a bill of attainder.
When I first saw this I swore it must be from the Semi-Satire/Semi-News site. I can’t believe how stupid some of these Congressmen can be. Instead of fixing the core problem of world competitiveness let’s pass a bill that guarantees venture capital moves offshore. If only we could separate Red States from Blue States financially. Make it like two colleges that have a coordinated history, like my school.
Separate tax policies, separate governments, Supreme Courts, etc. Let trade happen freely across borders, etc.
Then 25 years later grade the experiment. Winner take all.
This is an example of the mindset of the “liberals” in Congress. You belong to them, and if you simply decide to emigrate, this is treated as a crime. It is as if you lived in a communist state, and could be shot if trying to leave.
The same people don’t mind illegal aliens entering the country (and leaving their own country!). That entitles the illegals to special privileges, such as subsidized tuition at state universities. But if a US resident decides to leave, breaking no laws, it is treated as an outrage.
The proposed law even prevents the expat from visiting the USA. That is inhuman and completely unreasonable, and shows the level of hatred in the hearts of some of these supposedly compassionate leftists.
New York State even tries to pursue their own citizens when they move to Florida, because they are escaping the NY state income tax. People have reasons for moving: maybe old people know that a warm climate is better for them. Maybe they are just following their friends. At any rate, it should be the individual’s decision — at least in a free society.
They make the rules, then when someone plays by the rules they want to change them because the rules didn’t work they way they planned.
Typical MARXIST/LIBERAL/COMMUNIST.
I say we hang all of them and start over.
In abusive relationships, the abuser tries to prevent the abused from leaving.
Schumer and his fellow travelers can’t allow the Evil Rich to leave. Other payers may get the idea that they can escape the parasites in government and its welfare base.
I mean, it's not like the guy has ever acted like an American. More like a STASI captain.
Chuck and Barney will eventually propose the following:
Because JPMorgan-Chase has demonstrated;
- banks can’t manage risk
- and to protect the government from being victimized by tax avoidance schemes before they can be outlawed
- The Federal Government will confiscate all of your savings and investments
- and all paychecks will be placed on deposit with the Federal Government.
You will be issued a government ATM and make withdrawals, up to the Federally approved limits......
The interesting thing that is mentioned in very few articles on this subject, is that the US already heavily taxes those who renounce their citizenshipand has been for decades as I recall; he is not avoiding ALL taxes on his capital gains, just paying a bit less than if were still a citizen.
My my my .... Aren’t Chuckie Schumer et al becoming the angry hissy little fascists?
One of our rare liberties as Americans has always been the freedom to leave America if we chose to do so
More the reason for this guy to beocme Singaporean as fast as possible
Hopefully some shred of our law still protects people from ex-post facto changes in the tax laws targeted at punishing specific individuals
‘Unamerican’ is the only word that adequately describes this bill and those senator’s attitude...
This nation has ‘changed’ beyond recognition to any reasonable and rational citizen. The Constitution is the contract that binds us together. It is now considered a charter of negative liberties. The ‘United States of America’ is practically gone. I have no allegience to what this nation has become.
Sounds to me like a financial ‘Berlin Wall’.
Schumer has no problem banning this guy from the US, but worships the terrorists who are invited “guests” here.
The more the tax-grabbers grab and grub, the more the wealth-producers will think about where they want to flee. The unintended consequences of laws like this (and FACTA) are always far worse than their benefits.
I say great, don’t let the door hit Saverin on the way out, but we don’t need another law.
And most certainly not another law by “always 100% wrong side” Chuck Schumer.
That said. America first.