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How does the US Government collect taxes from someone residing in Canada?
Easily. All U.S. citizens, regardless of where they're living are REQUIRED BY U.S. LAW to file an IRS report.
Big issue up here right now with our Federal Finance Minister Flaherty issuing a statement to U.S. press that The U.S. going after U.S. dual citizenship holders who've lived in Canada in some cases for over 30 years for not filing an IRS report and FINING them is not the correct way to repair a failed economy.
These folks are for all intents and purposes Canadian citizens who've worked and lived in Canada deriving no income from the U.S. but are still obligated to file regardless.
I have no problem believing a tycoon moving income out of the U.S. would have his assets frozen and further, attached, regardless of where he was moving to unless no legal reciprocity agreements were in place with the nation of acceptance. Desperation breeds contempt.
Easily. All U.S. citizens, regardless of where they're living are REQUIRED BY U.S. LAW to file an IRS report.
But filing a return and paying a tax is 2 different things. If you are paying a tax to Canada, then you arent subject to paying the tax to the US Government.
[LEFT]The tax law provides a credit for the amount of income tax a taxpayer pays to a foreign jurisdiction. The credit reduces the U.S. tax liability by the amount of foreign tax paid on foreign earned income included on the U.S. tax return. Foreign income tax paid on unearned income, such as interest, isn't subject to any credit limitations.
Furthermore, wealth isnt taxed, income is, which again brings up the question, if the top 10% and I take my wealth to another country, does this mean they should pay zero?[/LEFT]
Quote:
Originally Posted by BruSan
I have no problem believing a tycoon moving income out of the U.S. would have his assets frozen and further, attached, regardless of where he was moving to unless no legal reciprocity agreements were in place with the nation of acceptance. Desperation breeds contempt.
There is a name for that, its called communism. If you dont like the free market system, maybe you shouldnt live in a free market society.
He makes a good point, hn. Why shouldn't people with the most wealth spend the most money defending that wealth?
liberals have been using this faulty, stunted, backwards logic for years...that the wealthy have more, therefore should pay more....for the same services...
so I guess if an all out invasion was to occur the the military should give priority to the wealthy over anyone else?.....that if, God Forbid, another 9/11 was to happen we should get the wealthy out of the city first because that is where all the wealth is?
I have heard that argument for years....that the wealthy have more to lose therefore they should pay for all the bills....so you people want the same protection we get from our armed serviceman but feel the guy who drives the nicer car should pay not just more, but your share of the cost also...why?...because he drives a nicer car...
if your house is on fire, you dial 9-11, just like a rich person...but somehow you feel as if his bill for the 9-11 service should be higher simply because his house is better then yours.
wealth envy is when you feel as if someone who has more then you don't deserve it and you want to knock them down...but when it starts that you not only want to knock them down, but also pay for your bills..."yeah that CEO should not be making so much money, he should also pay a few of my bills too"....hell , I am not too sure what that is..
if your house is on fire, you dial 9-11, just like a rich person...but somehow you feel as if his bill for the 9-11 service should be higher simply because his house is better then yours.
And if this poster and a "rich" person both happen to dial 911 at the same time, should the 911 operator check and see who's got more money, to decide what house the police should go to? We're told non stop that healthcare shouldnt depend on someones wealth, but now all of a sudden police protection should be? These people never stop to provide me with humor.
wealth envy is when you feel as if someone who has more then you don't deserve it and you want to knock them down...but when it starts that you not only want to knock them down, but also pay for your bills..."yeah that CEO should not be making so much money, he should also pay a few of my bills too"....hell , I am not too sure what that is..
nah. some of us geniunely believe that the rich do not pay their fair share. our tax code penalizes people who are high earners, rather than people who have a high net worth.
i do realize, though, that understanding this involves the analysis of data... and that americans are completely innumerate and will pretty much believe any half-baked analysis they read.
It's what the American people want, right? I guess Michelle Bachman will vote for it. Remember, she said their job isn't to lead, its to do what the voters want.
Fair tax unfairly causes the tax rate to increase on the middle and lower classes. If you spend 80% of your income just to make ends meet, then you pay taxes on 89% of your income. Where someone making 300000 a year can live awesomely on 150000 and they are only paying taxes on 50% of their income.
If you add rebates and exemptions then they'll only be manipulated by lobbyists and lawmakers to let corporations and top end Americans skip out on the bill again.
Flat tax, no exemptions. Everyone, every dollar over 30,000 a year is taxed at the same rate, despite who you are, what you earn, no rebates or exemptions. If a new program, war, etc is passed by congress, tell us how much our taxes will go up to pay for it. Makes voters think before blindly supporting government crap since they don't have to pay for it
liberals have been using this faulty, stunted, backwards logic for years...that the wealthy have more, therefore should pay more....for the same services...
so I guess if an all out invasion was to occur the the military should give priority to the wealthy over anyone else?.....that if, God Forbid, another 9/11 was to happen we should get the wealthy out of the city first because that is where all the wealth is?
I have heard that argument for years....that the wealthy have more to lose therefore they should pay for all the bills....so you people want the same protection we get from our armed serviceman but feel the guy who drives the nicer car should pay not just more, but your share of the cost also...why?...because he drives a nicer car...
if your house is on fire, you dial 9-11, just like a rich person...but somehow you feel as if his bill for the 9-11 service should be higher simply because his house is better then yours.
wealth envy is when you feel as if someone who has more then you don't deserve it and you want to knock them down...but when it starts that you not only want to knock them down, but also pay for your bills..."yeah that CEO should not be making so much money, he should also pay a few of my bills too"....hell , I am not too sure what that is..
This has zero to do with envy, Eric. I drive a nice car and bear absolutely no ill will towards those who drive nicer ones. Conservative assertions that every liberal is classist are as stupid and baseless as liberal assertions that every conservative is a racist. Think what you want; I really don't care.
About the topic at hand, wealthy people benefit the most from the armed forces. Wars are fought to protect acquired wealth or to obtain new wealth. That being the case, it just makes sense to me that those with 90 percent of the wealth should be paying the lion's share of the costs to defend it.
You broadened the topic beyond defense to include "services." I didn't.
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