[mo]

“The United States, as a matter of law, does not tax non-US Persons who have capital gains or gains on sales of real estate in the US. Further, the US will not report the interest income, nor the names of bank account holders who are not US Persons back to their national governments. All this has the effect of making the US a “tax haven” for everyone except US Persons. (it should be noted that US Persons are required to report and pay taxes on income from any source, even from one outside of the US and even if the taxpayer is no longer domiciled in the US).”

.....fascinating...absolutely fascinating...that OUR own government would treat a non-citizen preferentially to a taxpayer.......I think we need to strip DC of any such power and prerogative...

[theBuckwheat]

This is how the US retains Wall Street as the prominent financial center of world commerce. It should be noted that the UK has a similar policy of not taxing non-residents who make gains on stocks held in UK broker accounts. The instant any country even hinted it would levy capital gains taxes on non-taxpayers, their capital would flee to some other tax-exempt jurisdiction.

The issue is tracked here in the US by the Center for Freedom and Prosperity Foundation, at www.freedomandprosperity.org