Re:40% of multinational profits are shifted to tax havens ea...
by sgc on Tuesday November 19, 2019 @09:28AM
(#21573079)
We are aware that is the price you have to pay. However "The United States is one of just two countries (the other being the African nation of Eritrea) that taxes individuals’ based on their citizenship".[1] That should at least give you pause to ask why, whether it is fair, and most importantly, if there is not a better solution to whatever problem this policy attempts to solve.
[1] https://taxfoundation.org/how-countries-define-their-income-...
Re:40% of multinational profits are shifted to tax havens ea...
by lovich on Tuesday November 19, 2019 @09:26AM
(#21573063)
If that was a justification then why aren't corporation's paying that price?
Re:40% of multinational profits are shifted to tax havens ea...
by AnIdiotOnTheNet on Tuesday November 19, 2019 @09:32AM
(#21573112)
It is also worth noting that expats can exclude something like $100k from taxes with the Foreign Earned Income Exclusion. My understanding is that relatively few US expats actually pay anything.
Re:40% of multinational profits are shifted to tax havens ea...
by mcv on Tuesday November 19, 2019 @10:29AM
(#21573847)
From what I understand, they usually don't have to pay anything as long as they do pay some reasonable amount of taxes in the country where they live, but they still have to file taxes in the US, which, from what I understand, is quite a horrific process.
That’s the price you pay to have the most powerful country in the world as a destination to which you can always retreat.