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Actually, unilateral means to only one side. Egypt is not the "other side," just as Africa is not the other side. Unilateral means Israel but not Palestine. Big difference.
Peace.
brian
There is no country named Palestine as there is no Kurdistan. But we never hear you ever stating for funding to be given to Kurds, but yet Iraq gets $100's Billion per year.
But back to the topic. The people who renounce their citizenship do it out of pure greed in this case due to windfall profits initially and interest later on. the D's have been trying to close the loophole and the R's won't let them. The D's have been trying to force banks around the world to release the lists of American citizens who hold accounts in those banks by the Obama admin. As those banks open up their lists, some mulii-millionaire ex-pats have renounced their citizenship in order not to pay taxes on the income from the interest. This is because the Obama admin wants to make it retroactive to the opening of the accounts and not just the year they got caught.
1,000,000s of Americans have accounts in foriegn countries and report those savings accounts yearly as required by US IRS Law. Most accounts have around a $100,000 exemption on taxation. Most of these accounts pay very little tax once they go through the exchange rate. So what may be a gain in one country, may be a loss in the US.
Charitable giving does not correlate to donations to the needy as has been explained else where. Only 12% of all charitable donations go to the "needy."
Exactly. Why weren't they leaving BEFORE Reagan, when the tax rates of the rich very much higher:
The rich didn't leave when the tax rates were higher, and they're not leaving now.
Taxes are so much more complex than just the top bracket. In fact, the top bracket is meaningless. What's important is the actual taxes you pay.
Here is just one example; The U.S. is one of the few nations that taxes its citizens regardless of where you live in the world. As long as you remain a U.S. citizen, you will be taxed on your income even if you’re living abroad.
And there are many, many other factors.
So yes, it does happen. Here is a quote from the OP link; According to a 2012 study published by the Research Institute of Industrial Economics that examined the mobility of billionaires over the past two decades, “70% [of those billionaires] have migrated from higher to lower capital gains tax country … One-third of the billionaires that moved went to small countries defined as ‘tax havens,’” including Switzerland, Bahamas and Singapore.
Taxes are so much more complex than just the top bracket. In fact, the top bracket is meaningless. What's important is the actual taxes you pay.
Here is just one example; The U.S. is one of the few nations that taxes its citizens regardless of where you live in the world. As long as you remain a U.S. citizen, you will be taxed on your income even if you’re living abroad.
And there are many, many other factors.
So yes, it does happen. Here is a quote from the OP link; According to a 2012 study published by the Research Institute of Industrial Economics that examined the mobility of billionaires over the past two decades, “70% [of those billionaires] have migrated from higher to lower capital gains tax country … One-third of the billionaires that moved went to small countries defined as ‘tax havens,’” including Switzerland, Bahamas and Singapore.
I got very interested in your comment about WHY the rich were not leaving when taxes were much higher (before Reagan), but they suddenly are now that the taxes are much lower, so I looked up the so-called "Research Institute of Industrial Economics" that posted the so-called study, and found this:
The board of directors is appointed by the principal, the Confederation of Swedish Enterprise and comprises leading INDUSTRIALISTS. This Research Institute of Industrial Economics is not a study done by a university, it's not a study done by governments, it's a study done BY INDUSTRIALISTS. Duh! Not at all biased, eh?
No wonder my question remains unanswered: Why did the rich from this nation not leave when taxes were higher, and suddenly (according to industrialists) want to leave now that they're lower?
I got very interested in your comment about WHY the rich were not leaving when taxes were much higher (before Reagan), but they suddenly are now that the taxes are much lower, so I looked up the so-called "Research Institute of Industrial Economics" that posted the so-called study, and found this:
The board of directors is appointed by the principal, the Confederation of Swedish Enterprise and comprises leading INDUSTRIALISTS. This Research Institute of Industrial Economics is not a study done by a university, it's not a study done by governments, it's a study done BY INDUSTRIALISTS. Duh! Not at all biased, eh?
No wonder my question remains unanswered: Why did the rich from this nation not leave when taxes were higher, and suddenly (according to industrialists) want to leave now that they're lower?
Maybe because they are not lower now. Or maybe because they are going up now. Or maybe because back in Reagan's day our taxes were lower than other countries. I don't know. It's not a simple question.
You are only looking at one small part of the tax code, and a part that is close to meaningless.
Just please tell me that someone took Ron Paul and those other blithering idiots who "threatened" that if Obama was elected president that they would leave the country along with them!
Has any of those people renounced their citizenship yet?
I doubt that Ron Paul ever said he would leave the country if Obama was elected. But, maybe you have a link?
And by the way, he's not a "blithering idiot". He's one of the ONLY voices in politics who cares about our freedom.
With the announcement that top ranked boxer Manny Pacquiao will seek to hold his upcoming boxing matches away from the bright lights of Las Vegas and off U.S. soil, the Filipino boxer becomes the latest professional athlete to highlight the current non-competitive U.S. income tax rate. As reported by Yahoo! Sports
Status:
"everybody getting reported now.."
(set 27 days ago)
Location: Pine Grove,AL
29,573 posts, read 16,560,540 times
Reputation: 6044
Quote:
Originally Posted by Kracer
"the RICH don't have to leave the US to avoid Obama taxes! Just ask Mitt Romney and his 14% tax rate!"
Good for MR as he donates millions to charity.
The more the feds take in taxes the less people in real need get.
If MR were to carelessly let the feds take his hard earned money, he would be a totqal idiot.
The game is played just as you do at tax time.....how to keep as much as is legally possible.
Gore , Pelosi, Kerry, Geithner are just some of the wealthy dems who went bit too far and should be included in your ctiticism if you are to be taken seriously.
So Geithner is a Democrat simply because Obama appointed him to the Secretary position ?
John Kerry isnt rich, his wife's family is, so it isnt his money nor does he pay taxes on it.
Gore is the only person on your list that is actually rich that is actually a democrat.
But im still not sure how any of them went too far
With the announcement that top ranked boxer Manny Pacquiao will seek to hold his upcoming boxing matches away from the bright lights of Las Vegas and off U.S. soil, the Filipino boxer becomes the latest professional athlete to highlight the current non-competitive U.S. income tax rate. As reported by Yahoo! Sports
Wow, Yahoo, the magnificent source for finance news and all news is really in on this! Are there going to be enough planes to take all the rich people abroad now that the tax rate is low? LOL!
You righties are so irrational it's not even funny. And you people expect respect, huh?
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