...could you direct me to a source(s) that enumerate the tax deferments and/or breaks given to foreigners who become U.S. citizens? (Especially foreign business owners).Actually any possible tax advantages that foreigners might recognize by becoming US citizens is entirely dependent upon their financial status.
The poor and to a very small degree, middle class foreigners, are the only people who might see a financial benefit in US citizenship.
The poor, who would certainly not be business owners, can obviously benefit from the numerous welfare programs in the US. This explains why the vast majority of US immigrants fall into that category.
The middle class foreigners, who might own small businesses, have far fewer financial incentives for becoming US citizens. Depending on their particular business, they might qualify for a government grant or a small business loan that a non-citizen might not receive. But even that benefit, in those cases where it may be available, vanishes quickly, as the business grows. Also, depending on how much business the foreigner does offshore and in what countries, the additional tax burden of being a US citizen might even overwhelm the few benefits that a small businessman might receive.
Keep in mind that with the exception of only a couple of countries, foreigners do not have to pay tax on or even report foreign sourced income. US citizens, on the other hand, must report and pay tax on all income that they earn worldwide. If a foreigner earns $100,000 in a country that only has a 10% income tax, then that is all that he must pay, as long as he does not repatriate the money. A US citizen in say, the 38% tax bracket, who earns the same amount in the same country must pay the 10% tax in that other country and then pay an additional 28% more to the US (bringing the total tax to 38%), regardless of whether or not the money is repatriated. In fact, in all likelihood, the US citizen will have to pay additional taxes should the money be repatriated. So on that $100,000 the foreigner would pay $10,000 in tax, while the US citizen would pay $38,000 or more.
The real benefits of living in the US are social. You have a better infrastructure than anywhere else in the world. You have better hospitals. You may have better schools, though some countries have already passed us in that regard and many more are about to. But, those benefits cede to the non-citizen residents of the US, as well. There is only one significant right that non-citizens may not have - the right to keep and bear arms.
The financial benefits of US citizenship are, for the most part, reserved for the poor. If you are not in that category, then I wouldn't hold out a lot of hope for any real financial benefit in US citizenship. In fact, it might well work the other way around. Another thing to consider is that as a US citizen, you give up a tremendous amount of privacy.,
All of the above just begins to explain why roughly 100,000 of the wealthiest Americans are expatriating every year. After all, they are the folks who can easily afford to make up for whatever social and infrastructure benefits that leaving the US might entail. In fact, with all the new technology, you can even run a highly computerized business from on board a yacht, while it's underway. For more on this subject, see the article, Tick-Tick-Tick - The Economy Bomb. There are also several other related articles in the Tax and Economy section of the Action America web site.
"Marchin' on DeeCee!!"
(To be sung to Bruce Springsteen's "Racin' in the Streets")
I got a worn-out ol' computer with a 486...
Fax machine and patriotism galore.
Left's threatnin' our Rights with all their Guv'ment ROT...
Clinton's a Chinese Communist Whore!
Me and my FReeper buddies gonna fight to the last...
Gonna kick Ol' Slick right outta town.
'Cuz Bill took Chinese money, helped our Nukes get snatched...
We'll Re-Impeach, then we'll CONVICT RATS' Clown!!
Tonight, we fight Slick's White House Blight...
We're gonna knock that Traitor outta his seat!
Spring is here and The Time Is Right...
For FReepin' on DeeCee!!
We decry corruption when we see'it...
We expose Tyranny by the State.
When Limbaugh shuts down, we hit the DrudgeReport...
We're all funded by "Dick" Mellon-Scaife.
Now some folks, they just give up caring...
And start givin' up their Liberties, piece by piece.
Some folks come home from work and wash up...
Then go hit the Web to FReep!!
Tonight, we fight Left's Treas'nous Blight...
We're gonna stomp those Lib'rals beneath our feet!
Spring is here and The Time's Just Right...
We're Gonna DESTROY DemElites!!
(Keyboard/Percussion)
We met him and his "schtick" eight years ago...
Sixties' Lib'ral with "an eye fer the babes."
With far-Left Media at his back...
Slick told the World he's here to stay!
But now there's Treason, Rape, and Chinese spies...
So many lies...Oh no, it just ain't Right!
This Country's drones, they need a spark...
Need Ol' Mudboy singin', "It's worth the fight!"
Slick spunked on the floor of our great White House...
But folks said, "Wait, 'cuz Wall Street's soarin'!"
They stare off all numb, afraid to fight...
Trustin' LIES of folks who slaughter the Unborn.
For all YOU Mind-Numbed Robots and Network "HotShots"...
Ignorin' crimes to Beat the Band...
Tonight, the FReepers and me, we're gonna take back DeeCee...
And Purge LEFT's Filth From OUR Land!
Tonight, we fight the righteous fight...
Out of our way, RINOS, you best keep!
'Cuz Spring is here and the mood's just Right...
For FReepin' on DeeCee!
(Keyboard/Percussion to fade)
Mudboy Slim
BTW...Just over two centuries ago, our forefathers risked Life, Liberty, and their personal fortunes to stand up against an over-bearing and tyrannical government. Because of their courage and determination, the original Thirteen Colonies became what we now know as the United States of America. Therefore, our honored forebears were all-too-aware of the propensity for central governing bureaucracies to grow out of control. The writers of our Constitution, in an attempt to protect the citizenry from this eventuality, chose to enumerate our individual liberties in the Bill of Rights. The First Amendment includes "the right to free speech," which not only protected the individual's right to speak out against the government, but also enabled the Fourth Branch of Government--the Free Press, if you will--to flourish. For over two hundred years, this watchdog Media has turned over many rocks, exposing the dark under-belly of American politics...UNTIL NOW!!
Previously occupying the Oval Office at 1600 Pennsylvania Avenue, was a small petty man, heading a vast criminal conspiracy. Bill Clinton most indubitably committed multiple felonies and obstructed justice in the Monica Lewinsky matter. A morally-weak, spineless Senate was not up to the task of removing him from office, making a mockery of our Legal System as the #1 Law Enforcement Officer in the land was allowed to continue master-minding a relentless attack on The Rule of Law; however, it is clear that Clinton is "Guilty" (beyond all reasonable doubts) of multiple felonies and SHALL BE BROUGHT TO JUSTICE!!
Since escaping Justice in the Impeachment Trial, Mr. Clinton has been credibly accused of Violent RAPE by one nice woman, Ms. Juanita Broaddrick. Either this is a major slander against the good name of an innocent man...or else Bill Clinton raped and violently bit the lip of this young woman. If it wasn't true, don't you think the Rapist-in-Chief would have come out a bit more strongly in his own defense?!
Now, we come to find out the President of the United States is most likely guilty of TREASON, for accepting illegal foreign campaign donations from the Communist Chinese in exchange for basically offering a free run of our Nuclear Weapons Labs and authorizing high technology transfers through key Democratic National Committee contributors, Hughes and Loral. Executive Branch Corruption never ran as deep and as wide as is the case with this Administration!!
Yes, when it comes to brazenly flouting the laws and mores of this Country, this Clinton Cadre of Corrupt Communist Co-Conspirators is charting a new course. Yet, the blatantly Left-Wing Media can't find the time or the manpower to investigate/report the Truth about Slick Willie's Felonious Behavior, the "dark side" of the man who could violently rape a supportor and suggest as he left, "Better put some ice on that, baby!" No, our "Free Press" cannot even find it in themselves to report on the TREASON committed by Bill Clinton, in which each and every man, woman, and child in America is now significantly more at risk than 8 years ago, simply because Bill Clinton needed some illegal contributions to retain his tenuous hold on the reins of Power.
We've seen how ridiculous the Yugoslavian State-controlled Media Propoganda Machine looked in the recent conflagration in Kosovo...who amongst the Media Poltroons can explain to me the difference between Clinton's Media and Slobo's. Fortunately, The Network drones are becoming irrelevant!!
If you want to help in reclaiming our Country from the Evil that occupies the Oval Office, here's the gameplan...
RE-IMPEACH. CONVICT. DETHRONE.
DE-PENSION. DISBAR. DE-LEGITIMIZE.
INDICT. CONVICT. IMPRISON. DISCARD KEY.
(COURT-MARTIAL FOR TREASON AND APPROPRIATE PUNISHMENT OPTIONAL)
Quite Sincerely,
Mudboy Slim
P.S. "On the 15th day of February in the Two-Thousand Third Year of our Lord, there was a Grand Convening of Patriots at the Mall in Washington, DC. This convention of FReedom-loving Americans from accross the Continent was unanimous in its call for JUSTICE to be exacted upon those who would commit TREASON against our great Country!! Historians will record this great day as the beginning of the end of William Jefferson Clinton's Treasonous Reign of Terror!!"
So sayeth the word of...MUD
1 Posted on 07/03/2000 10:07:19 PDT by Mudboy Slim (Impeach@gain.HARDER!!)