No mention of USPs abroad, just some observations by Wolf on the government’s general attitude about journalism. She also mentions her involvement in the court case filed against the NDAA.
No mention of USPs abroad, just some observations by Wolf on the government’s general attitude about journalism. She also mentions her involvement in the court case filed against the NDAA.
@JDT:
“I should be free to spend and/or invest whatever is left over in Switzerland, or even in neighboring countries of my choice”
You are correct that this is a small marginal loss to the Swiss economy, but there is no loss to the far more important Swiss tax collector. In any case the way the big Swiss banks and the Swiss government have conspired to sell out financial privacy should be all the evidence you need to realize that Swiss are not looking out for your interest.
@ConfederateH, JDT- everyone keeps on committing the error of focusing on the taxation “difference”. What can’t be forgotten is the fact of what happens when the taxation difference no longer favors your host country but rather the U.S. If the U.S. goes the route of eliminating the Bush tax cuts then countries such as Canada will become low taxation countries relative to the U.S. This will mean a bigger difference in favor of the U.S. and thus more money taken out of Canada.
We also can’t forget the U.S. investment restrictions. Citizenship based taxation makes it impossible to take advantage of all of the tax saving opportunities that you have in your host country because anything that reduces your tax liability at home will only increase your tax obligations to the U.S.
Then there is the currency exchange risk. Big international corporations can afford to have whole departments that are dedicated to nothing more than hedging currency risk. The individual tax payer cannot access such specialized talents because of the high costs and risks that are involved. Believe me I know, because I did do a little play currency trading and boy was it a lot of work.
Any investment restrictions that the U.S. imposes on its expats is a loss to their home economy because taxation and investment policy is linked with national economic development and support goals.