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U.S. Expats Balk at Tax Law[W:82]

j-mac

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Globally, more U.S. citizens have renounced their citizenship in the first and second quarters than all of 2012 combined, and 2013 is already on track to becoming a record year for renunciations. A total of 1,130 names appeared on the latest list of renunciations from the Internal Revenue Service, according to Andrew Mitchel, a tax lawyer who tracks the data. That is far above the previous high of 679, set in the first quarter, and more than were reported in all of 2012.
While those numbers are still a fraction of the estimated six million Americans living abroad, lawyers say the main trigger for cutting ties with U.S. recently is the Foreign Account Tax Compliance Act, or Fatca, which requires foreign institutions to disclose the overseas assets of U.S. green-card holders and citizens to the U.S. government.

U.S. Expats Balk at Tax Law, Reconsider Citizenship - WSJ.com
And another truism coming to pass...When you unfairly try to go after the wealthy and tax their success they just leave because they can afford to do so...So who's next in the progressive push for so called "income justice"? Well, it would have to be the middle class....and they can't afford to run....Buckle up people.
 

Tigger

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Re: U.S. Expats Balk at Tax Law

That's fine. So long as they are barred from ever entering the United States again, owning property, businesses, or any other item of value inside the United States, and not allowed to make any money here.
 

sangha

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Re: U.S. Expats Balk at Tax Law

And another truism coming to pass...When you unfairly try to go after the wealthy and tax their success they just leave because they can afford to do so...So who's next in the progressive push for so called "income justice"? Well, it would have to be the middle class....and they can't afford to run....Buckle up people.
So you think our tax policies should be guided by the 0.000032% of the population that has decided to renounce their citizenship?

And I thought the OWS's 1% rhetoric was a bit extreme!!
 

j-mac

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Re: U.S. Expats Balk at Tax Law

So you think our tax policies should be guided by the 0.000032% of the population that has decided to renounce their citizenship?

And I thought the OWS's 1% rhetoric was a bit extreme!!
No, that's what you are saying...I never said anything like that.
 

jmotivator

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Re: U.S. Expats Balk at Tax Law

That's fine. So long as they are barred from ever entering the United States again, owning property, businesses, or any other item of value inside the United States, and not allowed to make any money here.
We can't even enforce that on Mexican citizens...
 

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Re: U.S. Expats Balk at Tax Law

So you think our tax policies should be guided by the 0.000032% of the population that has decided to renounce their citizenship?

And I thought the OWS's 1% rhetoric was a bit extreme!!
I suppose you'd rather wait until it was 10 thousand, or maybe 10 million before you recognised the problem?
 

wbcoleman

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Re: U.S. Expats Balk at Tax Law

How is Mr. Hollande's 75% marginal tax rate working out?
 

j-mac

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Re: U.S. Expats Balk at Tax Law

I'm glad to hear that you support the Foreign Account Tax Compliance Act.
Didn't say that either....Don't know enough about it yet....But glad to see you are still as dishonest as usual...Just a friendly bit of advice, instead of trying to assign arguments you want other people to have with you, just argue your ****ed up points, and try not to inject your perspective into other peoples words....You suck at it.
 

sangha

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Re: U.S. Expats Balk at Tax Law

I suppose you'd rather wait until it was 10 thousand, or maybe 10 million before you recognised the problem?
So you're worried that 10 million of the 6 million expats will do the same? :screwy
 

sangha

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Re: U.S. Expats Balk at Tax Law

Didn't say that either....Don't know enough about it yet....But glad to see you are still as dishonest as usual...Just a friendly bit of advice, instead of trying to assign arguments you want other people to have with you, just argue your ****ed up points, and try not to inject your perspective into other peoples words....You suck at it.
Ahh, I see.

These tax dodging ex-pats do not concern you, and you have no opinion on the Foreign Account Tax Compliance Act.

That's why you started a thread about these ex-pats and the Foreign Account Tax Compliance Act :roll:
 

j-mac

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Re: U.S. Expats Balk at Tax Law

Ahh, I see.

These tax dodging ex-pats do not concern you, and you have no opinion on the Foreign Account Tax Compliance Act.

That's why you started a thread about these ex-pats and the Foreign Account Tax Compliance Act :roll:
Still putting words in my mouth....Ah well, I guess you can't argue honestly....Tell ya what, I address you when you present ideas and we have something to discuss. Until then, this isn't about me so, think long and hard and come on back.
 

PeteEU

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Re: U.S. Expats Balk at Tax Law

Bet most of those have absolutely nothing to do with taxes. Not all countries allow dual citizenship and that could be a big part of the number.
 

Morality Games

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Re: U.S. Expats Balk at Tax Law

And another truism coming to pass...When you unfairly try to go after the wealthy and tax their success they just leave because they can afford to do so...So who's next in the progressive push for so called "income justice"? Well, it would have to be the middle class....and they can't afford to run....Buckle up people.
You really should have composed a stronger argument before starting this thread. All I have to do is say, "Make the laws to punish ex-pats" stronger so that leaving is prohibitively expensive.
 

sangha

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Re: U.S. Expats Balk at Tax Law

Until then, this isn't about me so, think long and hard and come on back.
Why don't you do some thinking and tell me what this thread is about?

So far, we know that it isn't about ex-pats or the Foreign Account Tax Compliance Act
 

blackjack50

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U.S. Expats Balk at Tax Law

That's fine. So long as they are barred from ever entering the United States again, owning property, businesses, or any other item of value inside the United States, and not allowed to make any money here.
Good plan...except they are likely rich. The last thing we need is to discourage money bags McGee from spending here.
 

Tigger

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Re: U.S. Expats Balk at Tax Law

We can't even enforce that on Mexican citizens...
Lack of will by the People is the reasoning for that failure.

Good plan...except they are likely rich. The last thing we need is to discourage money bags McGee from spending here.
I disagree. If they want to live somewhere else, let them divest themselves of all involvement with the United States, permanently.
 

j-mac

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Re: U.S. Expats Balk at Tax Law

You really should have composed a stronger argument before starting this thread. All I have to do is say, "Make the laws to punish ex-pats" stronger so that leaving is prohibitively expensive.
Hey, I got it....Let's just build a wall around the entire US, and face the barbed wire inward so that no one can get out.....Oh yeah, that's already failed.....
 

j-mac

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Re: U.S. Expats Balk at Tax Law

Bet most of those have absolutely nothing to do with taxes. Not all countries allow dual citizenship and that could be a big part of the number.
Well, the article makes a direct link, can you show where these people are giving up their citizenship for another reason?
 

j-mac

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Re: U.S. Expats Balk at Tax Law

Why don't you do some thinking and tell me what this thread is about?

So far, we know that it isn't about ex-pats or the Foreign Account Tax Compliance Act
Quit being a pest and start formulating an argument to debate, otherwise I'd appreciate if you'd bow out.
 

AliHajiSheik

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U.S. Expats Balk at Tax Law

When foreign banks won't open accounts for US citizens because of the paperwork and documentation, the hassle of being an expat starts to tip the balance away from citizenship.
 

PeteEU

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Re: U.S. Expats Balk at Tax Law

Well, the article makes a direct link, can you show where these people are giving up their citizenship for another reason?
No, the article assumes the link.. he has not gone out and interviewed ever single person on why they gave up their citizenship. And dual citizenship issues are a very valid reason.
 

sangha

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Re: U.S. Expats Balk at Tax Law

When foreign banks won't open accounts for US citizens because of the paperwork and documentation, the hassle of being an expat starts to tip the balance away from citizenship.
So now foreign banks are refusing to open accts for US citizens?

Make up stuff much?
 

j-mac

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Re: U.S. Expats Balk at Tax Law

No, the article assumes the link.. he has not gone out and interviewed ever single person on why they gave up their citizenship. And dual citizenship issues are a very valid reason.
Possibly I guess, but do you have anything to go on other than a thin possibility?
 
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