Record numbers of wealthy Americans are making plans to leave the U.S. after the election

[L88]

I wonder if Trump is one of them.

It may be time to revoke his bail.

The sooner Trump leaves the US and world stage the better for us all.

 

[L88]

Unless, they have no financial "footprints" to follow such as previously reported assets and interest income gained from those. The process is not as simple as transferring your wealth out of country then hopping on a plane to follow it.
While living in the U.S. for the allowed 6 month visitor visa, I was required to file an IRS form 8840 reporting all income earned on my foreign assets and declaring tax already being paid at source. Failure too file that form could have resulted in the IRS demanding a tax share be paid to the U.S. on any income I received from my foreign sources.
Point being: Americans choosing to suddenly change country of domicile will not find it as easy as packing a carry on and beating feet.
The whole world is now engaged in tightening tax codes,while taking their lessons from the U.S.

So the OP is not about tax evasion and I shouldn't have allowed myself to be distracted down that path. The OP is about physically relocating to another country. Reasons?

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[Ganondagan]

Check out the bit about leaving one nation and becoming independent.

Indeed, provided that they were White. Women, of course, just naturally, weren't the equal of any man.

If something can be taken away, it isn't a "right". It might be an "essential freedom" for a specific type of society, but it simply isn't a "right" because it might NOT be necessary to a different type of society.

An interesting concept - except that the people "consent" to all types of government from the most absolute dictatorships right on through to the most "enlightened" and democratic republics (without any "archy" making up the "natural ruling class").

Please pay a bit of attention to the period in US history that is commonly referred to as "The American Civil War".

Indeed, most Americans DO give, at least, lip service to those ideals (provided that doing so isn't inconvenient and doesn't cost them anything.

I do wonder at the easy with which some people conclude that "progressives" are out to "destroy ideals" which are ONLY held by "progressives".

It's almost exclusively progressives. In pursuit of their utopian world they've created a souless permanent bureaucracy to govern every aspect of our lives. Their goal? To change the land of the free and home of the brave into the land of government dependency and the home of the spiritually bankrupt.

 

[ModernDiogenes]

I understand what you're saying the the poll says millionaires. That's a broad range in the US these days. If you can live safely at a better cost of living why not consider it?

It's a large enough market there are companies and magazines dedicated to assisting in making it happen.

Now the poll says considering to move abroad. It doesn't mean they actually pull the trigger.

No, what I’m saying is in that really thin, rarified, air, that one tenth of the first percentile that measures their wealth in hundreds of millions and billion(s) they already are not here. They haven’t been for a very long time. Decades.

Sure they may visit. They may even “home port”, but it’s still just that; a port. One of many.

They own, or owe, no affiliation so they have no allegiance yet their money turns our politics.

That’s what I’m saying.

 

[Rogue Valley]

I would imagine that many of our wealthier Americans don't want to see THEIR tax rate adjusted to be more in line with their ability to pay.

 

[L88]

No, what I’m saying is that really thin air, that one tenth of the first percentile, they already are not here. They haven’t been for a very long time. Decades.

Sure they may visit. They may even “home port”, but it’s still just that; a port. One of many.

They own, or owe, no affiliation so they have no allegiance yet their money turns our politics.

That’s what I’m saying.

Yes that's what I understand what you are saying and I know this for a fact as well.
The poll says millionaires which is a broad range. Much broader than the upper fraction you are referring to.

 

[TU Curmudgeon]

So just write off the OP I posted from CNBC as fake news and that it's not happening.

Now feel better

I have an almost infinite faith in the ability of some Americans to do incredibly stupid things.

 

[StillBallin75]

Must be nice.

 

[TU Curmudgeon]

General Requirements for Issuing Residence Permits​

The authorities may only grant you a residence title if you meet the following requirements:

Adequate means of subsistence​

You have to have a fixed and regular personal income enabling you to cover your living costs without resorting to welfare aid from local authorities. At the time of application the regular monthly income must be equal to the equalisation supplement reference rate (Ausgleichszulagenrichtsatz) of the General Social Insurance Act (Allgemeines Sozialversicherungsgesetz - ASVG).

Equalisation supplement reference rate since 1st of January 2024:

• For singles: € 1,217.46
• For couples: € 1,921.96
• For each child additionally € 187,93

Proof of social benefits which you are entitled to only after your residence permit has been granted (welfare benefits or equalisation supplements in particular) is not factored in.

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You STILL haven't given details about IMMIGRATION.

BTW, did you know that the "Equalization supplement" for a family of four works out to US$2,497.63/mo? How many of your friends would have a NET income of US$2,497.63/mo once they had left their jobs?

 

[TU Curmudgeon]

It's almost exclusively progressives. In pursuit of their utopian world they've created a souless permanent bureaucracy to govern every aspect of our lives. Their goal? To change the land of the free and home of the brave into the land of government dependency and the home of the spiritually bankrupt.

Some people see reality, some vote for Mr Trump.

 

[L88]

View attachment 67541138



1) Given that under the Biden Administration, the DOW has pierced the 40,000 ceiling and continues to generate record profits, why would the TOP 1% would decide to act against their own self-interests by currently placing their current political support behind a presidential candidate whose tariff policies would have a significant adverse impact on the American economy!

2) Based on the "conventional wisdom" that "IF IT AIN'T BROKE, DON'T FIX IT," the most rational decision for the TOP 1% to adopt is to place long-held conservative biases on the "backburner" and place their support behind Kamala Harris and the Democrats!

3) A future "Harris Administration" represents the best and only realistic hope that it will retain many of the same economic policies that have contributed to the DOW's current success!

'It is not entirely about finances. It is about physically relocating.

Additionally, The DOW is not the economy just a gauge of how investors feel about the future for 30 key companies.
No matter where you live these days, you can invest in any other place in the world for the most part.
As far as US stocks go, much of the financial guidance going forward is to consider Europe and Asia. They have been lagging, and if current world events get straightened out, stocks other than US-based companies will be playing catchup a lot.

As far as a Harris win, she has threatened to tax capital gains. Removing capital from investors' hands is not going to be good for the market. As far as Trump, his tariff threats would be and have proven to be detrimental. But in reality, I don't see either occurring. There is too many other approvals required for that to happen and it does look like Congress is going to go extremely one direction or the other.

 

[Ganondagan]

Some people see reality, some vote for Mr Trump.

You think I voted for Trump? Yes, I've already voted and did not vote for either Trump or Harris. How little you actually know.

 

[Ganondagan]

'It is not entirely about finances. It is about physically relocating.

Additionally, The DOW is not the economy just a gauge of how investors feel about the future for 30 key companies.
No matter where you live these days, you can invest in any other place in the world for the most part.
As far as US stocks go, much of the financial guidance going forward is to consider Europe and Asia. They have been lagging, and if current world events get straightened out, stocks other than US-based companies will be playing catchup a lot.

As far as a Harris win, she has threatened to tax capital gains. Removing capital from investors' hands is not going to be good for the market. As far as Trump, his tariff threats would be and have proven to be detrimental. But in reality, I don't see either occurring. There is too many other approvals required for that to happen and it does look like Congress is going to go extremely one direction or the other.

Harris has threatened to tax UNREALIZED capital gains. That is a completely idiotic policy.

 

[TU Curmudgeon]

You think I voted for Trump? Yes, I've already voted and did not vote for either Trump or Harris. How little you actually know.

Aren't you happy. No matter who wins you can say "Don't blame me. I didn't vote for them.".

 

[L88]

You STILL haven't given details about IMMIGRATION.

BTW, did you know that the "Equalization supplement" for a family of four works out to US$2,497.63/mo? How many of your friends would have a NET income of US$2,497.63/mo once they had left their jobs?

Most have much more than that currently per month. Most of my friends are 60+. Most are retired or about to do so.
So I'm guessing since you're all over the place, you think CNBC is fake news.
Oh, and a 5% yield of 1 million is double that.

 

[L88]

Harris has threatened to tax UNREALIZED capital gains. That is a completely idiotic policy.

Yes, it is. If you look at US markets it appears investors don't think it will happen or there will be a giant sucking sound after the election.

 

[TU Curmudgeon]

Harris has threatened to tax UNREALIZED capital gains. That is a completely idiotic policy.

Is it?

Why would it be idiotic to tax capital gains on an annual basis using the appraised value of the capital gains source?

However, I will say that (because of the fluctuations in "The Market") the calculation should be on a separate form and people should be allowed a "non-refundable loss carry forward" period of some considerable length.

 

[Ginger Ale]

People are just more global now than ever. Travel is easy, countries are opening up easier ways to get residency and invest.

We all get emotional and spout wanting to leave here but rich people can actually do it.

 

[TU Curmudgeon]

Most have much more than that currently per month. Most of my friends are 60+. Most are retired or about to do so.
So I'm guessing since you're all over the place, you think CNBC is fake news. A 5% yield of 1 million is double that.

I'm very happy to see that you have lots of friends who have a net worth of over $1,000,000.

 

[L88]

Aren't you happy. No matter who wins you can say "Don't blame me. I didn't vote for them.".

That's the way I feel. I wrote in my neighbor Thad. Nice family of 4 guy and his spouse is a teacher.
Why are so concerned if you live in Canada?

 

[craig]

Is anyone really.so ignorant as to biy.in to this demagoguery?

No question it is wise to learn from history such as the dire economic straits induced by Kamala's price controls where incompetent bureaucrats induce shortages and misery as protection against so-called gouging. Open borders coupled with a robust social welfare government system of massive deficits is another disaster proven by history.

What price controls are those?

 

[Ganondagan]

Aren't you happy. No matter who wins you can say "Don't blame me. I didn't vote for them.".

That may be the way you would respond (and I suspect you would) but I have more respect and decency than to question someone's motives than that. But then leftists aren't really down with respect and decency, are they?

 

[L88]

I'm very happy to see that you have lots of friends who have a net worth of over $1,000,000.

A lot is a relative term. I'm going to say 8 couples for sure. Most likely the families of the burb I live in have that and more. The median household income is 118000

 

[L88]

That may be the way you would respond ( and I suspect you would) but I have more respect and decency than to question someone's motives than that. But then leftists aren't really down with respect and decency, are they?

If enough people would take this course, at the very least the 2 major parties would take notice. If we keep choosing the lesser of 2 evils, going forward.....well you know.

 

[Ganondagan]

If enough people would take this course, at the very least the 2 major parties would take notice. If we keep choosing the lesser of 2 evils, going forward.....well you know.

You're right. When you vote for the lesser of two evils you get evil.