I’m happy to pay more taxes and I regularly vote for that to happen. That doesn’t mean the exit tax isn’t fucking stupid and blatantly unfair.
If you actually gave a shit about taxing rich people you’d realize this exit tax doesn’t affect them at all, since they don’t have regular income to tax. It’s a tax on workers who don’t even live in the country.
$120k isn’t even enough to buy a house in most high COL areas. With a family you’ll never retire on that income either. Yet some of you are acting like these are ‘rich’ people so you can conveniently ignore their opinions.
I agree with your 1st paragraph. But IIUC the exit tax is not on wage income - it’s on their global wealth. I don’t see how the rich can escape that without cheating. But the problem is that non-rich middle class workers have homes and they’re being targeted.
It’s a tax on workers who don’t even live in the country.
Yeah indeed that’s the shame of the US tax policy. But to be clear that tax impacts citizens living abroad, not those who renounce. Renouncing actually escapes that.
I’m happy to pay more taxes and I regularly vote for that to happen. That doesn’t mean the exit tax isn’t fucking stupid and blatantly unfair.
If you actually gave a shit about taxing rich people you’d realize this exit tax doesn’t affect them at all, since they don’t have regular income to tax. It’s a tax on workers who don’t even live in the country.
$120k isn’t even enough to buy a house in most high COL areas. With a family you’ll never retire on that income either. Yet some of you are acting like these are ‘rich’ people so you can conveniently ignore their opinions.
I agree with your 1st paragraph. But IIUC the exit tax is not on wage income - it’s on their global wealth. I don’t see how the rich can escape that without cheating. But the problem is that non-rich middle class workers have homes and they’re being targeted.
Yeah indeed that’s the shame of the US tax policy. But to be clear that tax impacts citizens living abroad, not those who renounce. Renouncing actually escapes that.