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US Citizenship Renunciation To Rise "Dramatically For The Rich?

serfserf Member Posts: 9,225 ✭✭✭✭


I guess they see the handwriting on the wall and can buy citizenship else where then liquidate any cash and use Bit crypto money to get their money out the country. You can always vote with your feet and get out before The USA turns into a socialism state. Only a Great reset can snare them now.

Just like The Chinese millionaires have done already.

serf

https://www.wealthbriefing.com/html/article.php?id=190932

The number of US citizens looking to renounce nationality will increase “dramatically” because they’re looking to break free as taxes rise, an advisor handling such individuals has told this publication. 

The US taxes its citizens on a worldwide basis - the only major country to do so - and expats must file annual returns to the Internal Revenue Service. With the Biden administration expected to push up income, capital and estate taxes in the coming year or so, high net worth Americans are in the firing line. And for expats, they can only escape the net if they give up their citizenship.

Comments

  • Don McManusDon McManus Member Posts: 23,136 ✭✭✭✭

    As the US circles the drain as a cultured society, there will be many that look for greener pastures.

    International wokism, however, is spreading faster than the magical Covid, and greener pastures are few and far between.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • serfserf Member Posts: 9,225 ✭✭✭✭

    Updated! Biden just raise the rate to 44% on capital gain taxes retroactive to Jan 1st! There goes the farm!

    serf

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