Comments on: The strange vogue in dumping U.S. citizenship http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/ Tracking U.S. politics Wed, 16 Nov 2016 03:39:51 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: fromthecenter http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424957 Thu, 17 May 2012 03:44:12 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424957 If savarin wants to leave, dont let the door hit him in the behind. i’m sure he could live a very comfortable and safe life in singapore.

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By: Acetracy http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424938 Wed, 16 May 2012 17:59:17 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424938 Most cases of dual citizenship result from marriages or immigration, and it is used mostly for convenience when entering a country. As we all have experienced, the lines are much, much longer for non-citizens when going through customs than for citizens. The other convenience is employment – no need for a work permit/visa when you are already a citizen of the country.

What Savarin did was not for any of the above reasons. It was purely for greed and no moral sense that he owes society for many of the benefits he now enjoys. For example, if Harvard was not treated as a non-profit with $100 millions of donations, grants and subsidies, I wonder if Savarin could have afforded the real market price for a Harvard degree. Plus the ability of Facefook to go public is highly reliant on the stability and regulation the US government ‘tries’ to maintain in its financial markets.

However, Savarin’s behavior is the epitome of how the super rich expect a safe, modern and convenient world without having to pay for its upkeep. With over 1/3 of the world’s wealth held off-shore (Singapore being the chief haven in Asia), the rest of the tax paying public must make up the difference. How many countries would be without any fiscal issues today if that off-shore wealth was taxed as the rest of us.

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By: gwhiteonline http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424935 Wed, 16 May 2012 17:15:05 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424935 As a US citizen who has been paying more taxes in Canada for 40 years I find it very upsetting that now that I am getting older and ready to downsize my home, the IRS wants to tax me on the Capital Gains. As a Canadian you can not write off mortgage interest on your home. In Canada you can not write off interest on your home but you are not taxed on the Capital Gains either. One of the few tax benefits I have as a Canadian, the IRS wants to tax. Yet my home has nothing to do with the US.

I think the US has forgotten what the Boston Tea Party was all about. The US has forgotten that the founders of the country did not think it was fair that King George was finding ways to tax them while they were no longer living in England.

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By: ewilc773 http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424934 Wed, 16 May 2012 17:06:40 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424934 Unless I’ve totally misunderstood every history book that has passed through my hands, dumping citizenship for tax reasons is exactly how America started.

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By: usagadfly http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424931 Wed, 16 May 2012 14:59:32 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424931 Americans are treated as property of the US Government, no matter where they live. “Republicans” are as bad as “Democrats” on this.

The USA has a larger number of its citizens in prison than any other Government. And it wants more in prison, mostly for seeking pleasure in unapproved ways that do not directly harm anyone else. It thinks of itself as “moral”.

US citizens are not very free, as anyone who has lived outside of the USA other than under US Government auspices as either a Government employee (including military) or a US Government contractor knows. People who do not know this almost always have not experienced life in another country on their own.

The US Government grants great freedom to the wealthy and to corporations. They have no problem evading “capture” if they desire. It is the bottom 90% who are treated just like runaway slaves. They are the ones who need freedom, not the rich.

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By: Global_Citizen http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424922 Wed, 16 May 2012 09:12:49 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424922 I don’t see the issue re Saverin. He was not born an American, he took on citizenship as a teenager following moving to the USA from Brazil.

He has subsequently left the USA with no intentions to live there again. Why should he have to pay a $300M tax bill…

I think most people given that reality would do the same.
Renounce your second nationality for $300M.

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By: forzaazzurri http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424921 Wed, 16 May 2012 08:57:40 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424921 Multiple citizenships give tremendous benefits, and I am not talking about avoiding taxes, as it gives benefits to the multiple states as well.
In the increasingly globalized world, nationalistic single-passport-only states will lose out on the benefits of keeping a connection with families who move abroad, and do business in several countries.

On the personal level, my children have the great fortune of being able to choose where to study/work in the future with no need for a visa in Japan, USA and the EU, since they hold 3 passports(I am a bit jealous of them).

As a US military vet, I have 2 passports, and still file taxes every year for the USA. There is no way that I hide money or dodge taxes in any country. How would that make me or my children any less American?

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By: DistressedMark http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424918 Wed, 16 May 2012 07:41:10 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424918 Excellent article.Americans Living and Working Abroad are estimated to be around 5 to 7 million people. Yes, they do have to do their IRS Report yearly to the USA, and they do have a Earned Income Exclusion of US$92,000.00 and US Tax Credits for the taxes they pay in their countries of residence. The USA and Eritrea are the only Countries in the world that tax its citizens regardless of where they live. All other countries follow a residency based taxation, that is, people people pay taxes where they live and work. Americans Living and Working Abroad are not the same as Americans Living in the USA who hide investments in foreign banks, yet,for some unknown reason they are being placed in the same boat. Now they have to declare all their bank accounts and investments in the country where they reside and work. The great majority still do not know about this requirement, but the penalties for not sending them (FBARS) are so draconian that even the IRS Tax Adviser has protested against this. This is highly unfair to innocent, middle class people who for one reason or another (not to cheat on taxes) are working in a “foreign” country. Needs to be corrected if we want to call the USA a fair Country.

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By: JP007 http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424914 Wed, 16 May 2012 05:51:24 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424914 Why is most of this article a political hatchet job on Ms. Bachmann when in fact being married to a Swiss Citizen she has a perfectly normal reason to get dual citizenship and apparently not for tax reasons! Whereas the thrust of the article should be Facebook’s co-founder Eduardo Saverin who RENOUNCED (come on Atossa you can say it in the article) his US citizenship not “possibly” for tax reasons but in fact for tax avoidance under the IRS current law since he has assets more than $500k and under current IRS tax law he should be considered a tax cheat having run off the plantation and if the IRS were even handed would be pursued to the ends of the earth.
I cannot fathom the author’s hypocrisy since she holds 3 passports but seems to think others valuing freedom is a strange thing.
I do note the the article would have gotten a lot less interest without Bachmann, whom I guess the press has a symbiotic relationship with. Talk about two weak sisters, the Press and Bachmann while Saverin skates away.

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By: JP007 http://blogs.reuters.com/talesfromthetrail/2012/05/11/the-strange-vogue-in-dumping-u-s-citizenship/comment-page-2/#comment-424913 Wed, 16 May 2012 05:37:59 +0000 http://blogs.reuters.com/talesfromthetrail/?p=40440#comment-424913 Actually the US DOES claim taxes from citizens living abroad as you must file a tax return even if you make a non-taxable level and must report all assets and if not there are draconian penalties far in excess of the asset values. The $95k limit is false in light of the penalties and yes actually many expats make far in excess of this limit and the punitive US taxes make US companies favor foreigners over expats overseas. This has an enormous negative effect on US exports and company image overseas and is costing the US economy hundreds of billions in lost income and jobs in the “homeland”. The Germans are cleaning up at the expense of the US slave state.

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