Man: I made my billions... now I'm renouncing my U.S. Citizenship so I don't have to pay taxes. Toles: Proud to be an American. Still legal under the flag desecration amendment.
The Potomac regime is one of two in the world (the other is Liberia maybe?) that tax their citizens and permanent residents for income anywhere. That policy led to legislation requiring banks to snoop on US citizen depositors (or else be barred from dealing with US banks I guess), which caused many overseas banks to close US citizens’ accounts to avoid the hassle, which caused many US citizens living abroad to renounce that citizenship, for which they are of course demonized.
Anton Sherwood about 1 year ago
Presumably they paid some taxes already.
The Potomac regime is one of two in the world (the other is Liberia maybe?) that tax their citizens and permanent residents for income anywhere. That policy led to legislation requiring banks to snoop on US citizen depositors (or else be barred from dealing with US banks I guess), which caused many overseas banks to close US citizens’ accounts to avoid the hassle, which caused many US citizens living abroad to renounce that citizenship, for which they are of course demonized.