Re:Paradise Papers: Dear Tim Cook
by peoplewindow on Wednesday November 08, 2017 @12:15PM
(#15654448)
It prevents you from leaving if you can't afford to pay the tax. And lol, how is an exit tax even remotely fair? Would you have described the USSR's exit visas as fair too? The US acts like it owns its citizens as property. The tax regime around citizenship is dangerously close to crossing the line to slavery.
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Re:Paradise Papers: Dear Tim Cook
by abecedarius on Wednesday November 08, 2017 @12:21PM
(#15654510)
Indeed. Almost a quarter of my net worth? The income from the remainder would still be taxed in the new jurisdiction.
Slaves in antiquity could commonly buy their freedom, too.
Presumably you have to pay the tax due to capital gains on assets you own, so the solution is pretty simple: sell a fraction of those assets to cover the tax. This really isn't rocket science.