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0 pointsdeepinsand12y ago0 comments

Perhaps, but I don't think the US has worries about wealth flight. I assume the countries that dominate this "economy" are Argentina, Cyprus, etc.

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bmelton12y ago

The US does have an expatriation tax[1] that is of concern for many. There was also a dramatic increase to the tax proposed as a result of Eduardo Saverin's expatriation before the Facebook IPO. Even though he hadn't been living or working in the US for some time prior, the US imposes taxes on all moneys a citizen earns, regardless of where they are living, or where that money was earned.

Beyond that, expatriation from the US is at an all-time high[3], and the rumor is that it's related to the adoption of Obama's progressive taxation schema.

[1] - http://en.wikipedia.org/wiki/Expatriation_tax#United_States

[2] - http://en.wikipedia.org/wiki/Ex-PATRIOT_Act

[3] - http://www.thefiscaltimes.com/Articles/2013/11/18/US-Taxpaye...

ewoodrich12y ago

Wait, which "progressive taxation schema" is this? The expiration of the top 1% of the Bush tax cuts?

bmelton12y ago

That, the "Buffet Rule", the reduction on charitable donations, the increase on capital gains, and his proposed "Grand Bargain", which lowers rates, but eliminates enough loopholes that it is at least expected to raise the effective tax rate for corporations.

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bmelton12y ago

Beyond that, expatriation from the US is at an all-time high[3], and the rumor is that it's related to the adoption of Obama's progressive taxation schema.

[1] - http://en.wikipedia.org/wiki/Expatriation_tax#United_States

[2] - http://en.wikipedia.org/wiki/Ex-PATRIOT_Act

[3] - http://www.thefiscaltimes.com/Articles/2013/11/18/US-Taxpaye...

ewoodrich12y ago

Wait, which "progressive taxation schema" is this? The expiration of the top 1% of the Bush tax cuts?

bmelton12y ago

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