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To: Publius6961
If you are a US citizen and leave the US, you are subject to income taxes for 10 (?) years. You must pay your taxes regardless of where you live, where you make money, and where you park your money.

Says them. But, really, the USA has no ability to force outher countries to follow our laws vis-a-vis former citizens of the USA.

The Soviet Union considered the skills it's athletes and artists had to be the property of the USSR. I'm sure they had all sorts of thing that the many artists who defected during the Cold War were supposed to do to make up their bills to the USSR. We didn't honor those laws. Why should these other countries care about our extra-territorial claims. We are becoming a pariah nation, like the USSR was.

139 posted on 04/12/2010 9:37:15 AM PDT by Jack Black ( Whatever is left of American patriotism is now identical with counter-revolution.)
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To: Jack Black
If you are a US citizen and leave the US, you are subject to income taxes for 10 (?) years. You must pay your taxes regardless of where you live, where you make money, and where you park your money.

Says them. But, really, the USA has no ability to force outher countries to follow our laws vis-a-vis former citizens of the USA.

To my knowledge, all member-states of the OECD have "double-taxation avoidance" treaties with each other. That means that if you are a U.S. citizen who is a legal residence of, say, the Czech Republic" and who works there and pays income tax there, you won't have to ALSO pay U.S. income tax (rather, it is offset).

BUT, the disadvantage of that to you, who wants to "go Galt," is that all of these OECD member-states share info about you, the tax-payer, with each other (e.g., when conducting audits).

Bottom line: There is no need for the U.S. to "force" other countries to help "ferret out" so-called "tax cheats." Rather, it's a case of "You scratch my back, and I'll scratch yours."

Regards,

155 posted on 04/12/2010 10:24:11 AM PDT by alexander_busek
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To: Jack Black

What you say is true, to a point. However, if the US can cause offshore banks to refuse to hold accounts for US citizens, per the new law, then where do you put your money?


174 posted on 04/12/2010 12:44:34 PM PDT by expatpat
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