Posted on 09/02/2014 7:14:12 AM PDT by SeekAndFind
That would be a great plan if he wasn’t also making it ten times more expensive to be a US citizen. I’m not sure what comes next. A big concrete wall and barbed wire?
Obama is making it easy to come and hard to leave. The only places that do that are prisons and bear traps. It doesn’t say anything good about the American Dream when the country encourages non-taxpayers to come and penalizes taxpayers who want to leave.
Americans who are abandoning their citizenship in droves are due to be charged five times more to surrender their passport under government plans announced yesterday.
The number of US citizens renouncing their nationality has been increasing dramatically in recent years.
In 2012, 933 Americans gave up their citizenship. In 2013 this more than trebled to 3014 and in the first six months of this year 1,579 people have surrendered their nationality.
But now the situation has become so acute that the government has introduced a fivefold hike in the service fee charged to renounce American citizenship – with the price going up from $450 to $2,350.
So it’s gotten that bad that people abandoning their citizenship are a revenue source. At least they aren’t being shot at from guard towers.
Yet.
This administrative fee isn’t the major cost most expatriates would face. Renunciation is considered a de-facto sales event. Income taxes must be filed and taxes paid on any unrealized gains, just as if the assets held had actually been sold.
Reminds me of my sentencing to live in Ohio many years ago (grad school).
The libs were doing their normal job of destroying business, and when they found that sane businessmen were telling the dim-bulb-crats where they could shove their unions and taxes, the enlightened leadership decided to levy a heavy tax on any company that wanted to leave the state.
Yup, that worked well.
Rust belt indeed.
The blood suckers in D.C. WILL have their tribute.
Please see my tagline for the reason behind this.
You can check out any time you like,
But you can never leave...
Your tagline is quite true, unfortunately.
The walls are starting to go up like they did in East Germany back in the ‘50s.
More evidence that these small-minded little ninnies have no concept of how wealth is acquired, retained or spent. I for one, have no plans on leaving my country, the nation that I love. I'm going to stay and fight to take it back. However if I did want to leave I can think of several ways to avoid or minimize their stupid little tax. And I'm sure people far wealthier than I am have entire accounting firms at their disposal to come up with quite a few more tax avoidance paths that never occurred to me.
When I moved out of Ohio they had found a very clever way to double-tax me on about $8000 in income I had actually earned in Pennsylvania.
So yes, they do lie awake at night thinking up this stuff.
I was going to post the same thing :-)
He’s using the New Jersey model. It’s free to get in, but they keep raising the toll to get out.
Very scary mindset from the government. They are punishing people for leaving but they are ignoring why people are leaving. Adding this “fee” is proof that those that flee are doing so with reason.
It’s ironic that an illegal will pay a coyote about the same amount to swim the Rio Grande so they can suck on the Federal teat that sucks money out of fed up Americans leaving and renouncing their citizenship.
What we need is a new Berlin Wall.
Am sure we can make a high-tech one that lets illegal Central Americans in, while keeping all the productive Americans from leaving.
You got a free pass if you were avoiding the draft.
Yea, but it’s not just California anymore.
My daughter is now living in Ohio.
I have advised her to quit her job and spend at least a year being unemployed before moving anyplace else.
The difference between a tyranny and a free country is the direction the guns are pointed at the border.
Ping
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