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Americans Turn In Passports as New Tax Law Hits.....

So here is another question then.....who here even has a passport?
 
MMC said:
So here is another question then.....who here even has a passport?
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You should mention that the total number of renunciations for the first quarter of the year was only 1,130. That is a pitiful sum in relation to the number of all Americans that hold passports.

I have one.
 
I am 54 yrs old and have never had a passport
I were to flee the country I suppose I'd go as a reverse illegal alien?
 
brothern said:
You should mention that the total number of renunciations for the first quarter of the year was only 1,130. That is a pitiful sum in relation to the number of all Americans that hold passports.

I have one.
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Well Eco already brought up that is less than 001% of the population. I thought he was dead on with that one.

Myself I have one too.
 
Taxing citizens on income earned abroad seems odd in light of an "Idiot's guide to corporate tax avoidance" explanation I saw the other night. One aspect of it was that a business based in Ireland, but selling their product in Britain paid no British tax, because theywere Irish, but because they were managed from the USA, they paid no Irish tax. The relevant part was that since none of the business took place on US soil, the US took no tax either! Essentially the argument was that the basic international tax structure was established over a century ago, when trade and taxes was a completely different entity totally unable to cope with today's business activities.
It seems odd though that individuals are taxed but corporations are not, when they are supposedly people too!
 
For all some geese squawk and squawk about being plucked the numbers show them quite fat and feathered for even the worst winters. Even the winters caused by their fellow geese.

I am more of the opinion those who renounce probably have been scamming the system- and an audit would show something hinky. If nothing else it gives the IRS 1,000 people to concentrate on. Sort of like yelling ICE at the front door an having the agents standing at the back door, thins the herd ya have to inspect... :lol:

I have a passport.
 
People should not be taxed on money they made abroad. It's not U.S. money so the Fed can eff off. If it's money they made in the U.S. and they are putting it offshore to avoid paying domestic taxes, that is another story.

Those handing in their passports because of U.S. tax rules are likely people who are taking advantage of tax havens in the first place.

I just think it's unfortunate that this kind of law is not going to affect the major businesses who are experts are avoiding taxes. Hitting the little guy seems to be all our Fed does anymore.

In any case, there are much better reasons to be handing in one's Passport at this time. There are so many better countries to choose from than ours; once you spend time in any of them and debunk all your childhood political programming, you quickly realize that returning to the U.S. is a chore, not an honor.

I left because I was far more concerned about the destruction of our civil liberties, the drugging of children in schools by the government, and the general permanent downward turn that the nation is taking. I would much rather use my Canadian passport abroad than my American one. People are really starting to hate us everywhere and it's our government's fault.
 
 
TurtleDude said:
when people fear their government we have a dictatorship

when the government fears its citizens we have a free constitutional republic
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Well, we have both. How lucky for us eh?
 
brothern said:
You should mention that the total number of renunciations for the first quarter of the year was only 1,130. That is a pitiful sum in relation to the number of all Americans that hold passports.

I have one.
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What about the sum of those who are US citizens living outside the country?
 
To summarize: conservatives only care about America to make money and would betray the country for 30 pieces of silver.

Glad that the usual suspects have admitted the moral bankruptcy of conservatism and how its patriotic rhetoric is totally dishonest.

NEXT RIGHTWING MEME!
 
Next meme?
Millions will lose their health care coverage in the coming months
and
Millions will NOT sign up for Obamacare
nor will they pay the fine
how's that?
 
AngryOldGuy said:
Next meme?
Millions will lose their health care coverage in the coming months
and
Millions will NOT sign up for Obamacare
nor will they pay the fine
how's that?
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Hey another dishonest conservative post. I love it when conservatives pretend to care about uninsured Americans! Please continue. Maybe you should suggest leaving the country like rich people do. Always a conservative option.
 
I care about the uninsured
I wish they'd all get sick and die before they
can get on Obamacare and bankrupt our nation?
 
head of joaquin said:
Hey another dishonest conservative post. I love it when conservatives pretend to care about uninsured Americans! Please continue. Maybe you should suggest leaving the country like rich people do. Always a conservative option.
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I love it when socialists pretend to care about the poor when in reality its all about trying to use the government to take money from others
 
TurtleDude said:
I love it when socialists pretend to care about the poor when in reality its all about trying to use the government to take money from others
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Well we could just print money but you get mad at us when do that too.
 
TiredOfLife said:
Well we could just print money but you get mad at us when do that too.
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Well putting Col Sanders and a bucket of Wings as a moniker.....just didn't have the Sex Appeal. :lamo
 
MMC said:
The number of Americans choosing to give up their citizenship has spiked dramatically this year as the government works to implement a new disclosure law aimed at stamping out tax evasion.

Some of the rush may be caused by Americans hoping to avoid the new disclosure requirements. Others living abroad say they are giving up their U.S. passport because they are tired of dealing with overly complicated tax filings.

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Unlike most countries, the U.S. continues to tax citizens on all income, regardless of where it is earned or where they reside. For expats, filing taxes in two countries often means wrestling with a huge mountain of paperwork.

The increase comes as the U.S. prepares to implement the Foreign Account Tax Compliance Act, a new law that requires foreign institutions to report all assets owned by Americans.

The measure, approved by Congress in 2010, is aimed at recouping some of the hundreds of billions the government says it loses each year in unpaid taxes. The law also requires individuals with overseas assets to file additional forms.

Even individuals who are not among the super rich are considering giving up their citizenship -- especially when lower tax rates beckon in other countries.

For those who haven't paid their taxes, giving up citizenship isn't an easy way out. The government can still go after former citizens if evidence of tax evasion surfaces.

Plus, there's no statute of limitations and the IRS could then collect back taxes, said Scott Michel, president of Caplin & Drysdale, an international tax law firm.....snip~

Americans Turn In Passports as New Tax Law Hits - Yahoo! Finance

We do need to deal with Tax reform.....that is a fact. How much longer can we put it off? What do you think about people who would give up their Citizenship to avoid or try to avoid paying their taxes owed here?

What do you think about the issue of Dual Citizenship? Should there be such a thing? If one doesn't want to be part of that Country anymore. Why should they still carry that citizenship?
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I just asked my brother living in Munich about this. He says the US only taxes on income over $92,000/yr earned abroad.
 
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