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Looking to give up U.S. citizenship for tax purposes? read this

Discussion in 'BlackHat Lounge' started by Roparadise, May 17, 2012.

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  1. Roparadise

    Roparadise BANNED BANNED

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    A U.S. senator is proposing to make it so that any U.S. citizen worth at least $2 million or more, has to pay the government 30% on all future earnings after they give up citizenship as well as not being allowed to ever enter the U.S. again.

    http://www.huffingtonpost.com/2012/05/17/eduardo-saverin-facebook-cofounder-citizenship-taxes-chuck-schumer_n_1524349.html
     
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  2. Nigel Farage

    Nigel Farage BANNED BANNED

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    http://abcnews.go.com/International/wireStory/mexico-drug-wars-latest-toll-49-headless-bodies-16340415#.T7VMqOhYtio

    Too bad that motherfucker wasn't one of them.
     
  3. Roparadise

    Roparadise BANNED BANNED

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    And who are you referring to?
     
  4. ShadeDream

    ShadeDream Elite Member

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    I don't quite get this part. If they won't be allowed to enter the US again then how is the US going to charge them 30% tax on all future earnings? lol
     
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  5. Roparadise

    Roparadise BANNED BANNED

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    All the have to do is pass the bill,and if you dont pay up charge you with tax evasion and have you extradited. It will be probably result in a case going to a the Supreme court where they may strike it down.
     
  6. ShadeDream

    ShadeDream Elite Member

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    But they won't be earning the money in the US and they will no longer be US citizens hence they can't do anything to them... lol
     
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  7. cataratas

    cataratas Junior Member

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    By sending them a bill.

    You don't have to be resident in the US to be liable; that's the whole point.
     
  8. ShadeDream

    ShadeDream Elite Member

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    But if the people are not making their money in the US, the US can't do anything to them...
     
  9. antsaoo

    antsaoo Supreme Member

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    Indeed, but now they are looking to change it that they can get taxes from people leaving the US. If you move into some US friendly country and don't pay theyll drag you back into US. Like they did to that english kid for hacking was it ?
     
  10. directaxcess

    directaxcess Power Member

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    I don't think this will ever go through ... they're really going to go out of their way to hunt people down in other nations? The US would be exercising too much power if they did that -- I don't think a lot of other countries would be cool with that.
     
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  11. infoasian

    infoasian Supreme Member

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    Germany has much stricter laws. If you were a resident of Germany and were worth over 170k Euros the year before you changed residency, you are liable for German income tax on your global income for 10 more years.
     
  12. paddler

    paddler Registered Member

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    Land of the free, home of the brave is just a joke now. The U. S. is becoming a Police State and now it is more like land of the free to do as your told and home of the tame. America already has more people in jail than any other country, but they keep making laws to jail even more.
     
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  13. pavan

    pavan Elite Member

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    how can they tax you when you are not US citizen and out of US ?
    if you are in different country then its out of US jurisdiction
     
  14. JohnG

    JohnG Junior Member

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    Why I am not surprised to see this bill being put forward by a worthless pos like chuck schumer. This is all over that facebook guy who gave up his citizenship to avoid paying taxes on the IPO, and I say good for him. The guy hasn't even lived in this country for years, he lives in singapore, why should he have to pay US Taxes on his earnings. This is all part of the left's ideology that the government makes you who you are and you are therefor beholden to them for everything you make in life and have to give them a cut. I don't see this billing going anywhere, maybe pass the senate, but will die in the house.
     
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  15. Crewchief007

    Crewchief007 Power Member

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    Wrong answer... if a person is a US citizen living abroad and earning income abroad, they must file and pay taxes in the USA. It doesn't matter how long they have been doing, they get no pass.

    Its called double taxation and it is the LAW!

    And to be clear, the IRS is aggressively going after Americans who live abroad and pay taxes abroad but do not file and pay taxes to the US government. That is why more and more Americans living and working abroad are are giving up their US citizenship.

    This latest legislative attempt is designed to put the squeeze on those Americans.
     
  16. krzysiekz

    krzysiekz Senior Member

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    How absolutely retarded is that?

    So if I have citizenship in the US (which I do) but have been living in Australia for 15 years - I am expected to pay my Government tax as well as the US? What's that going to amount to in terms of how much I have to pay in tax? That just doesn't make sense. Aussies get owned with around 40 or 45% tax on their income if in the highest bracket. If the US comes along and wants another, I don't know, 20% or more? What do I get to keep?

    This just sounds so stupid and illogical, I have no idea how this could have ever even have been passed as Law. So now since I am a citizen of US, AUS and if I moved to another country, and if Aus has the same sort of Law, then I would owe taxed to my new country, the US and AUS? What a joke..
     
  17. collegedropout

    collegedropout Registered Member

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    Those big wigs in the oval office want private jets and mansions. And who's paying for it? Hahahaha. Scam or be scammed. Can't escape reality.
     
  18. weedface18

    weedface18 Registered Member

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    come at me irs you're an illegal institution and have absolutely no right to my money. your very existence defies the constitution therefore you are invalid in my eyes.
     
  19. SEOverlord

    SEOverlord Junior Member

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    You can thank Eduardo Saverin for ruining it for everyone.
     
  20. Roparadise

    Roparadise BANNED BANNED

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    If you are making under $90,000 a year you will not pay taxes to the u.s. government, and if you make more you write the austrailian tax off as a tax credit on the u.s. taxes.
     
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