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| Home Front Economy |
| Americans To Be Punished For Quitting Obama's Tax And Spend Police State |
| 2008-06-29 |
| Congress just passed a new law that will stop your capital -- or at least a good portion of it -- at the border, should you decide not to be a U.S. citizen anymore. Is it, perhaps, in preparation for the possibility that Americans might rebel at the debt and taxes incurred by their government by leaving for lower-tax locales? You probably didn't notice this little provision inserted into the Heroes Act of 2008, passed by Congress on June 17. The headlines in the press release about the law were about the increased benefits for veterans and families of deceased military. But Richard Kohan of Price WaterhouseCoopers drew my attention to one section of the act, which states that anyone voluntarily giving up his or her citizenship will be taxed on all of his assets as if he or she had sold them -- paying capital gains on assets that have increased in value, even though they have not been sold. Doesn't sound as bad as all that until you realize that congress will jack up the capital gains tax *first*, to what? 60%? 80%? 100%? |
| Posted by:Anonymoose |
| #6 Dumb move. Barriers work two ways. Less inward investment will be the result. |
| Posted by: Bright Pebbles 2008-06-29 21:42 |
| #5 So this means all those over paid Hollyweird people will have to leave it here. Remember Pretty Boys, the Donk controlled Congress did this. Heh. |
| Posted by: Procopius2k 2008-06-29 21:31 |
| #4 Lizard Peeps can't be held in mass detention, they tunnels like mad. |
| Posted by: .5MT 2008-06-29 20:46 |
| #3 Ship the assets offshore to a jurisdiction that doesn't recognize judgments from American courts or accept cases stemming from acts within the US first; leave later. They can try but they can't force capital to stay here and take the abuse. |
| Posted by: AzCat 2008-06-29 20:36 |
| #2 Well, they already have the mass detention camp under DIA. |
| Posted by: DarthVader 2008-06-29 20:28 |
| #1 Itn part of the UFO base they building with slave labor in Montana |
| Posted by: .5MT 2008-06-29 20:22 |