• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Have you ever considered renouncing your US citizenship? Think twice ...

dud

dud

Diamond Member
I've thought about it but that's as far as I went. I found this article interesting, even though it was published by CNN Money:

http://money.cnn.com/2014/12/10/pf/taxes/expat-passport-citizenship-renounce/index.html?hpt=hp_t2




A short excerpt:

"This is what really boggles everybody -- you're going to go into the U.S. embassy, you're going to swear an oath of renunciation, you're going to hand over your passport, and yet in some cases, you'll never be free from a tax perspective," said McLemore. "At the same time, you've given up all your legal rights as a citizen."


You?
 
While there is obviously a lot to be pissed off about, there is still much greatness in this country, and what is broken can be fixed. I have never seriously considered renouncing my US citizenship. It may be a corrupt plutocracy to some extent, but there is hope.
 
Why would anybody want to do that, unless they move to a country and want that country's citizenship, which, requires them to give up their US citizenship, I don't see a scenario where someone would want to do that. Now some left wing hippies might want to do that after getting stones, but that does not count as a genuine cause.

If you are going to continue to live is US, then ofcourse you will have to follow all its laws including paying taxes and all that. I don't get it...
 
DesiPower said:
Why would anybody want to do that, unless they move to a country and want that country's citizenship, which, requires them to give up their US citizenship, I don't see a scenario where someone would want to do that. Now some left wing hippies might want to do that after getting stones, but that does not count as a genuine cause.

If you are going to continue to live is US, then ofcourse you will have to follow all its laws including paying taxes and all that. I don't get it...
Click to expand...




How about the scenario whereas you are a wealthy person who (thinks) they are paying too much in taxes and you wish to move/avoid those taxes by renouncing your citizenship? The Government considered this type of scenario with these laws. Consider french actor Gerard Depardieu's story:


http://www.huffingtonpost.com/2013/02/23/gerard-depardieu-french-taxes_n_2749287.html
 
I lived in Germany for 6 years. I'd do it in a heartbeat without considering the consequences, and probably regret it. That aside, Europe (for the most part) is winning the "how to not dick over your citizens at every turn" debate.

From a tax only standpoint... their taxes kind of suck (19% sales tax) but healthcare and college are free... so, ya know.
 
How the hell can they enforce a tax on non-citizens who aren't living in the US. I mean if you have assets in the US, they could attempt to seize them, but if you're smart you would have moved everything offshore ahead of time.
 
Maybe in passing when I was younger. I do think a lot of the jokes directed towards Canada are rooted in jealousy, though.
 
dud said:
I've thought about it but that's as far as I went. I found this article interesting, even though it was published by CNN Money:

http://money.cnn.com/2014/12/10/pf/taxes/expat-passport-citizenship-renounce/index.html?hpt=hp_t2




A short excerpt:

"This is what really boggles everybody -- you're going to go into the U.S. embassy, you're going to swear an oath of renunciation, you're going to hand over your passport, and yet in some cases, you'll never be free from a tax perspective," said McLemore. "At the same time, you've given up all your legal rights as a citizen."


You?
Click to expand...

That's okay. Just immediately move to Mexico, cross the boarder illegally, and all your rights will be restored, particularly if you made it into California.
 
GobBluth said:
I lived in Germany for 6 years. I'd do it in a heartbeat without considering the consequences, and probably regret it. That aside, Europe (for the most part) is winning the "how to not dick over your citizens at every turn" debate.

From a tax only standpoint... their taxes kind of suck (19% sales tax) but healthcare and college are free... so, ya know.
Click to expand...

See how that sales tax rate is 19%? yeah, so those other things are not free.
 
Midwayman said:
How the hell can they enforce a tax on non-citizens who aren't living in the US. I mean if you have assets in the US, they could attempt to seize them, but if you're smart you would have moved everything offshore ahead of time.
Click to expand...

They can't.

Most people liquidate as best they can and shove their money offshore where the US cant touch. Then they renounce, show they are indigent, pay nothing except the exit fee and leave the US. Then if the US tries to come back later to collect some taxes or fees once they are out of the country they give the US government a big fat middle finger because there isn't a damn thing that the US government at that point can do so long as the person doesn't try to reacquire assets directly again in the US.
 
Linflas said:
And he is not even factoring in the VAT which they love because it is not seen by the end consumer.
Click to expand...

High taxes are worthwhile if citizens involved actually get great benefits out of from paying it. Try becoming sick without health insurance in the U.S and see how fast it ruins you financially.
 
I've been in Germany for 4 years now and have thought about converting. It's annoying having to file a US tax return every year. 0 income in the US, 0 taxes paid, 0 taxes owed but I still have to file.
 
DesiPower said:
Why would anybody want to do that, unless they move to a country and want that country's citizenship, which, requires them to give up their US citizenship, I don't see a scenario where someone would want to do that. Now some left wing hippies might want to do that after getting stones, but that does not count as a genuine cause.

If you are going to continue to live is US, then ofcourse you will have to follow all its laws including paying taxes and all that. I don't get it...
Click to expand...

Because you may have birth citizenship but not had anything to do with the country since you were a newborn. If I was the child of an ambassador serving in the U.S. who was born here but moved back shortly thereafter, why the fuck would I want to send Washington a tax check every year in perpetuity? The "global income" tax rules are one of the most retarded and ridiculous things the U.S. has ever come up with.
 
StrangerGuy said:
High taxes are worthwhile if citizens involved actually get great benefits out of from paying it. Try becoming sick without health insurance in the U.S and see how fast it ruins you financially.
Click to expand...

Obviously your body does not sufficiently value freedom and low taxation and thus deserves to die. :colbert:
 
StrangerGuy said:
High taxes are worthwhile if citizens involved actually get great benefits out of from paying it. Try becoming sick without health insurance in the U.S and see how fast it ruins you financially.
Click to expand...

Or if the high taxes are only benefiting a small portion of the population, like here.

In Canada, citizenship status doesn't mean what it use to. Landed immigrants have access to all the same things we do. They just can't vote or serve on a jury. Though there's talk of allowing them to vote, which I'm strongly against. It's unfair to immigrants who went through the citizenship process, like my parents and grandparents.

Of course the big benefit is travelling internationally. Canadian citizenship can carry a lot of weight when crossing borders, and especially when you need help.
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top