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 lunaticprophet rated 3 months ago - There's A Law That Takes Away Money If You Leave U.S. Citizenship?
From the page: "A lot of people probably can't understand why someone would voluntarily give up American citizenship -- but if someone wanted to do that, they'd now incur financial penalties for it.
Congress j...
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7 Reviews
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- skylick rated 3 months ago
- The corporations elected this government by using the Fundie Churches and Fox Noise. This government does not represent me!
- Jewfro-Macabbi rated 3 months ago
- "...anyone voluntarily giving up his or her citizenship will be taxed on all of his assets as if he or she had sold them -- paying capital gains on assets that have increased in value, even though they have not been sold..."
Really, it would be awesome if the U.S. government could be just a little more fascist...
- AvangionQ rated 3 months ago
- With the United States in debt to the tune of over 9 trillion dollars, eventually someone's going to have to pay the piper ... historically speaking, when a government falls far into debt, the inevitable conclusion is the collapse of the economy, followed by a revolution, regime change and a new economy which eventually gets caught into the same cycle of debt following the law of diminished returns -- its a rare exception that a government manages to get itself out from under debt before the debt escalates and becomes insurmountable ... I *don't* want to see the same happen to the United States, and its on the citizens to force the politicians to draft balanced budgets and to *entirely eliminate* the unregulated printing of new money which causes the inflation and devaluing of our dollar, pushing us further into debt ... this law is just stating the obvious -- every American citizen (man, woman and child) is $30,000 in debt to the government and they intend to see us pay ...
- mjwerx rated 3 months ago
- From the page: "You probably didn't notice this little provision inserted into the Heroes Act of 2008, passed by Congress on June 17. The headlines in the press release about the law were about the increased benefits for veterans and families of deceased military.
But Richard Kohan of Price WaterhouseCoopers drew my attention to one section of the act, which states that anyone voluntarily giving up his or her citizenship will be taxed on all of his assets as if he or she had sold them -- paying capital gains on assets that have increased in value, even though they have not been sold.
That's right. While everyone in the media is focused on keeping aliens out of America, Congress has voted to lock its citizens - or at least a good portion of their assets -- into America! Maybe they're thinking that patriotism won't be enough to keep the smart money from recognizing the coming increases in the tax burden."
- lunaticprophet rated 3 months ago
- There's A Law That Takes Away Money If You Leave U.S. Citizenship?
From the page: "A lot of people probably can't understand why someone would voluntarily give up American citizenship -- but if someone wanted to do that, they'd now incur financial penalties for it.
Congress just passed a new law that will stop your capital -- or at least a good portion of it -- at the border, should you decide not to be a U.S. citizen anymore. Is it, perhaps, in preparation for the possibility that Americans might rebel at the debt and taxes incurred by their government by leaving for lower-tax locales?
You probably didn't notice this little provision inserted into the Heroes Act of 2008, passed by Congress on June 17. The headlines in the press release about the law were about the increased benefits for veterans and families of deceased military.
But Richard Kohan of Price WaterhouseCoopers drew my attention to one section of the act, which states that anyone voluntarily giving up his or her citizenship will be taxed on all of his assets as if he or she had sold them -- paying capital gains on assets that have increased in value, even though they have not been sold.
That's right. While everyone in the media is focused on keeping aliens out of America, Congress has voted to lock its citizens - or at least a good portion of their assets -- into America! Maybe they're thinking that patriotism won't be enough to keep the smart money from recognizing the coming increases in the tax burden.
Patriotism and Debt
We expect our elected leaders to be patriotic, to wear flap pins on their lapels? But how patriotic is it for our elected officials of both parties to drag our country into debt?
This year the Federal budget deficit will be a record $400 billion. That astonishing number will be added to our existing $9 trillion national debt. It's money that our government spends in excess of what it collects in taxes.
[For an instant update on our National Debt go to the moving numbers at www.Truthin2008.org -- a nonpartisan watchdog group on the national debt.]
Government officials say they're shocked at the record number of American consumers who are filing for bankruptcy. Yet those same politicians are spending America into an effective bankruptcy -- building a burden of current debt and promises of future debt that can never be repaid. Now, how patriotic is that?"
- bristol3 rated 3 months ago
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A lot of people probably can't understand why someone would voluntarily give up American citizenship -- but if someone wanted to do that, they'd now incur financial penalties for it.
Congress just passed a new law that will stop your capital -- or at least a good portion of it -- at the border, should you decide not to be a U.S. citizen anymore. Is it, perhaps, in preparation for the possibility that Americans might rebel at the debt and taxes incurred by their government by leaving for lower-tax locales?
You probably didn't notice this little provision inserted into the Heroes Act of 2008, passed by Congress on June 17. The headlines in the press release about the law were about the increased benefits for veterans and families of deceased military.
SURPRISE! The laughs just keep right on coming folks.
- stevepark rated 3 months ago
- A lot of people probably can't understand why someone would voluntarily give up American citizenship -- but if someone wanted to do that, they'd now incur financial penalties for it.
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