God that country is a fucking plague.
The US wants it’s tax dollars one way or another.
The US also taxes you no matter where you live in the world. That’s not enough apparently… (only Eritrea and the Philippines practice this too - citizenship-based taxation).
Well theoretically at least you could tax the shit out of rich people even if they “flee” the country. Here in France it’s always “no lo no we can’t tax the rich because then they’ll leave!!”
People say that about the rich in America too. “Don’t tax them, they’ll leave and take all their money with them!”
But I dunno, maybe we shouldn’t let people get so rich we’re terrified of them leaving with their money? Just a passing thought…
But also I call bullshit. Doing business in America is, for the foreseeable future, profitable. The rich aren’t going to leave because they’re making less profit as long as “less profit” is more than “how much profit will I have if I leave”
Of course, now that they’ve completely captured the US government, the conversation is kind of moot.
If the US reestablishes the 91% top-tier tax bracket we had for most of the 20th century, the rest of the world will quickly follow.
Nobody will be in that bracket; they will take great efforts raise their tax deductible “expenses” (or reduce their revenue) in order to avoid it.
Well then you can block them from investing in the US or owning property. That would put a serious crimp on them.
Except rich people don’t pay taxes in the US, the best we can hope for is them spending or starting a business.
In theory. In practice, 2000 $ is pocket change for them.
Lots of people fled England in the 50s-60s because the tax rates were insane. George Harrison even wrote “Taxman” about it.
Basically you’re paying for the right to vote in national elections as well as Seal Team 6 hostage rescue if you should get captured by terrorists or whatever.
Lol if you think we send in Seal team 6 for hostages of foreign countries.
An exaggeration, and I think you knew that when you wrote this comment.
The US has made efforts to save its citizens from hostile foreign groups on many occasions, but it generally doesn’t give a shit if you’re not a citizen.
Yup I found out about that a couple years ago. It’s crazy.
Norway taxes your wealth if you try to leave
https://www.bdo.global/en-gb/insights/tax/world-wide-tax/norway-exit-tax-rules-to-be-tightened-again
Well, a Norwegian Wood do that.
Unless you are a corporation.
They also make you show up to a US embassy and tell the American flag you don’t want to be friends anymore.
(only half kidding)
Allegiance unpledged
It’s never been more true, the old saying that freedom ain’t free.
I’ve become an immigrant in the UK a few years ago when I had the good luck to convince myself all of this would happen sooner or later. Kept my citizenship so far because I wanted to vote against him this time. What’s your story?
I moved to Singapore to be with my husband. Singapore doesn’t allow dual citizenship so I had to renounce my US one.
Congrats on getting out
But what happens when trump makes america great again? /s
Dammit, Spider-Man, you got me. Guess I’ll just wait it out.
Not bad! It’s a dictatorship, but aside from that I hear it’s quite a good standard of living. And I hear the food scene is immense.
And Singapore ain’t bad either!
Hahaha yeah
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A paternalistic, technocratic, party not shying away from authoritarian measures getting re-elected and re-elected does not a dictatorship make. Bavaria does the same but replace technocratic with wiley and corrupt.
I’m not here to split hairs, we’re both talking about the same problem. I’m still happy for them finding a way out.
How do you handle banking? So many places no longer allow Americans to have bank accounts because of the reporting requirements, or did that change when I wasn’t looking?
Privileged. British by birth.
That said my wise card is still my daily driver.
Ironically, formally renouncing your citizenship doesn’t sound like much of an Irish goodbye
Why not sell it? Show them you can play the capitalist game too! I’m sure there’s a few nazis that would pay for it.
Why did you renounce?
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Singapore doesn’t do PR? Japan doesn’t allow dual citizenship either but basically the only thing you gain over PR is voting rights. If you make good money (over $100000) you have to pay some taxes back to the US but otherwise you only have to pay one country.
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Congrats on your new citizenship!
Back in college I knew a guy who had everything right up to citizenship and it cost some amount and he was contemplating if it was worth it and I was mentioning this very scenario we have in the us now on why it would be good to be a citizen.
Did you renounce before or after getting Singaporean citizenship? Like did you have dual citizenship for a few days, or no citizenship for a few days?
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Can u like transfer it to someone else? Asking for a friend
What is the benefit of this?
If you are US citizen, you must still pay taxes to USA when you work and live in another country.
IDK if there are other things, but that’s pretty major for some people.There is a fairly misunderstood tax rule which lets US persons working abroad for more than 330 days per year to exclude a reasonably large chunk of income: https://www.irs.gov/individuals/international-taxpayers/foreign-earned-income-exclusion
Yup. I live abroad and pay no US taxes.
you only have to pay those if you plan on returning to the US
this is not legal advice
I think only if its above a certain amount. You get some sort of high deduction for paying taxes in your current country. Still have to file regardless though which is annoying.
The benefit of what exactly?
Id guess renouncing your US citizenship.
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But isn’t your family in the States? I read a while ago that immigration can sometimes be vindictive toward former citizens who renounced their citizenship when it comes to applying for a visa—even if it’s just for a tourist visit to their former country
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I mean that sounds like a lawsuite in the making.
No. If you are not an us citizen you have no “american rights” until you cross the border. They can even steal your phone and make you tell them your password.
oh I think I got confused since it was an american citizen giving upcitizenship so I thought you meant their relatives in the states.
Yes.
Lemmy downvotes the most random things.
Reading the comments, I’d say it’s worth it. Singapore fucking rocks. Be sure to celebrate with some chili crab or at least a bowl of laksa. Heck, the savings on cheap and beautiful chicken rice alone would make to for that passport cost!
(Yes, I’m hungry while posting this comment).
Not a very Irish goodbye 😏
