Re:Tax the Super Rich now or face a revolution
by _delirium on Saturday April 02, 2011 @08:03AM
(#2399752)
The super rich can afford to fly back and forth all they want so eventually they're just going to move their official residence elsewhere and fly back to the United States when they need to.
It's a bit trickier than that: to avoid U.S. income tax you have to permanently renounce U.S. citizenship, not only move your residence. Though it's probably true that you could then still fly back to the U.S. for trips of up to 90 days, since I would guess that the rich person's new citizenship would likely be in a country that's part of the U.S. visa-waiver program.
It's a bit trickier than that: to avoid U.S. income tax you have to permanently renounce U.S. citizenship, not only move your residence. Though it's probably true that you could then still fly back to the U.S. for trips of up to 90 days, since I would guess that the rich person's new citizenship would likely be in a country that's part of the U.S. visa-waiver program.