Posted on 07/06/2002 7:39:09 PM PDT by vannrox
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US Taxpatriates The following links are to the US Government's official lists of Taxpatriates, as compiled quarterly by the IRS, required under 26 USC 877(a)(1). Under this law, the people on this list may be taxed for ten years after they renounced their citizenship. Furthermore. under 8 USC 1182(a)(10)(E)), these persons may not be allowed back into the US for any reason. Even facing these penalties, wealthy US citizens continue to leave the US at an alarming rate. The following lists show conclusively that the exodus of US citizens and their wealth is continuing. What these lists fail to show is the increasing numbers of wealthy US citizens who are just taking their wealth and leaving the US without ever renouncing. Tax haven countries are recording significantly larger and larger numbers of US applicants for permanent residence or second citizenship every year. Those lost investment dollars represent LOST US JOBS. Instead of reducing the number of taxpatriates, these repressive laws have actually increased taxpatriation. But, to make matters worse, they are now taking ALL of their money with them, to prevent it from being taxed for ten years. The "small flood" of taxpatriates predicted by a Forbes Magazine article, "The New Refugees" (Nov 21, 1994 v154 n12 p131(5)) is threatening to become a large flood in the not too distant future. Also see the Forbes article, "And don't come back." (Nov 18, 1996 v158, n12, p44(2)). When big money is forced out of the US, it is the average citizen who has to make up the difference in higher taxes. The Income Tax is costing you money in more ways than you know! (Although the Forbes articles mentioned above have expired from the Forbes web site, they are maintained in text format in several other places on the web. We try to keep our links up-to-date, but with the size of Action America, that is not always possible. If one of the above links should be broken please let us know, so we can point that link at one of the serveral other archives. Thank you.) US TAXPATRIATES |
See related articles:
TICK - TICK - TICK / The Economy Bomb
The Privacy Factor
More Attacks on the Wealthy
Anti-Privacy BLACKLISTS - Fiction or Folly?
See Expatriate sites:
The Sovereign Society
Escape Artist
Expat World
Second Passports
I call tax-cheats and deadbeats who renounce their citizenship "slimey and irresponsible".
I place little significance on your charming little personal anecdote about who you supposedly know.
I imagine you could concoct a similar testimonial vouching for the integrity of pedophiles and rapists.
The majority have always been parasites feeding off the minority. When they get uppity by taking more from the minority, the minority can committ no crime against them in order to secure their rights because it is impossible to committ a crime against a tyrant.
Don't stop there, include all of the members of Congress, CPAs and Tax Lawyers that do nothing but suck off of it.
I never said they were being forced, I simply said that they had to leave to live up to the standards that freedom sets for them. You take small tidbits of what I say (out of context, I might add) and attack them, but still run from the larger argument.
You posted a quote that mentions the licking of certain tyrannical hands. Yet you advocate that the wealthy of this country lick those hands. You argument is duplicitous and circular, and your inability to support it is proof.
And please, no more quotes. It is easier to post them than it is to truly understand them...JFK
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