«-- Two Letters Re: Home Invasion Robbery Countermeasures--Your Mindset and Architecture | Main | Our 2009 Predictions, by Roger Wiegand --»
Letter Re: The U.S. Expatriation Exit Tax
Hi JWR,
Here's another one for your readers. I'd heard of this "exit tax" a
few months ago and it was completely ignored by the mainstream media (MSM).
At first blush, it doesn't appear to impact most people,
i.e. only those over $4 million USD net worth for couples who renounce U.S.
citizenship and leave. However, we all know how well the alternative minimum
tax (AMT)--the so-called millionaire's tax--worked out.
It was supposed to affect only several hundred tax "scofflaws", and
now because of inflation, millions of citizens are affected. A few years of
50% inflation will put most professional couples into the realm of exit tax
eligible.
I'm sure many of your readers will agree that it is making more and more sense
to go off the financial grid, as well as the electric grid. Rendering unto
Caesar is getting pretty darned expensive, even if you want to leave!
Take a look at this
post over at The Ron Paul Forums. Here is a snippet:
"Europe's Economist magazine refers to this new tax as, "America's
Berlin Wall." They also point out that, along with North Korea, the United
States is already one of the few countries in the world that taxes its citizens
on
their income regardless of the country they earn it in. As most already suspected,
the IRS is a hard master. A government that is bankrupt by any honest accounting
accounting standards will eventually be forced by its creditors to turn over
any real assets it
still has at its disposal. Unfortunately, in most courts of law, those assets
can include the full net worth of all U.S. citizens and residents. The ability
to tax this net worth, to extinction if necessary, is the ultimate backing
behind the guarantee U.S. debt holders know as"the full faith and credit
of the United States."
Yikes! - CK
