Another story in Business Insider. The headline is mis-characterized and that is too bad.
It comes to us via the Blaze, which means few progressives will give it much attention. They should!
Headline: In Last Night’s Debate, No One Discussed The Americans Who Leave the Country To Avoid High Taxes
I also posted it as a comment on the WSJ article here.
The story prompted the usual “Don’t let the Door Hit you in the ass” type comment, and I posted a response. Others are welcome to join in. Educating those poor ignorant Homelanders by one comment at a time is hard work, but we need to be persistent, IMHO
Life of American abroad in Video…
*Leaving the country by itself does not avoid any US taxes, and even renouncing citizenship, as Saverin has done, does not free him from capital gainst taxes on any Facebood shares he might sell. Foreigners who have capital gains from the sale of shares in a US company, or on real estate or any other US property, are still subject to US taxation on such capital gains. The IRS never lets you off the hook, even if you renounce US citizenship and never set foot on US territory as long as you live.
I see that Reason Magazine has also ran an article…
U.S. Law Pushes Overseas Americans To Renounce Citizenship
It seems to me, that we are getting more and more of these stories around…
Again, issue of somebody who left long ago or never lived in the US as an adult doesn’t merit labeling as somebody who has left the homeland to avoid taxes. Everyone is free to choose his/her dominant nationality and where they choose to live and work.