Free Republic

The marriage of Meghan Markle and Prince Harry is anything but ordinary. Even among royal marriages it’s unique because Meghan is American – and, like many Americans, she is biracial. But while her race isn’t a issue, her nationality is – thanks to the U.S. tax code.Prince Harry, Meet the IRS American citizens like Markle, who was born in Los Angeles, must report their worldwide income to the IRS even while living abroad. (For more, see How to Pay Taxes If You're Overseas.) She will have to file U.S. tax returns and Foreign Bank Accounting Report (FBAR) forms, assuming she...

"Taxes are the price we pay for civilization" ... Justice Oliver Wendell Holmes. The U.S. Tax Code is a perennial whipping boy, and rightly so. It's unfair and monstrously complex. Some would like to replace the entire Tax Code and the IRS with a totally new system. One such idea is the so-called FairTax, which is essentially a national retail sales tax. Although Bruce Bartlett in "FairTax, Flawed Tax" and others have roundly criticized this idea, here are my main reservations about the FairTax: The FairTax treats savers badly. Under the current system, savings have already been taxed. But with...