104 lines
4.1 KiB
Plaintext
104 lines
4.1 KiB
Plaintext
From fork-admin@xent.com Sat Oct 5 12:38:45 2002
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Fri, 4 Oct 2002 11:28:12 -0700
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Message-Id: <200210041828.LAA06042@maltesecat>
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To: fork@spamassassin.taint.org
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Subject: Re: no matter where you go
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From: Dave Long <dl@silcom.com>
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Date: Fri, 04 Oct 2002 11:28:11 -0700
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... nor what color your passport?
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More American exceptionalism:
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<http://www.iht.com/articles/72079.htm>
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> "The United States is the only country in the world to tax its citizens
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> on a worldwide basis, irrespective of whether they spend time in the
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> country or whether they have assets there," said Philip Marcovici,
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> a Zurich-based lawyer with international law firm Baker and Mackenzie.
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and perhaps even irrespective of their
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current citizenship:
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> Under current expatriation law, there are wealth thresholds based on
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> net worth which lead to a presumption that a person giving up U.S.
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> citizenship is doing so for tax reasons.
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>
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> Individuals who have given up their citizenship and who have earned
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> $100,000 in any one of the 10 years before expatriation, or who have a
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> net worth exceeding $500,000, would automatically be deemed a so-called
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> "taxpatriate." Those persons would be subject to ordinary income tax
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> on U.S. source income for 10 years. They would also be subject to
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> U.S. estate and gift tax during the 10-year period.
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I suppose it could be much worse;
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there could be some twee affinity
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program for US citizenship, and a
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bank of phone people who only get
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paid well if they manage to keep
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one from cancelling membership...
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-Dave
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:::::::
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> Last month, Congress proposed a new exit tax on all citizens who give up
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> their U.S. status. If the proposal becomes law, individuals will be taxed
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> as if they had either sold everything or died. This would give rise to
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> immediate exposure to capital gains tax.
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To be fair, would this mean that they'd
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also immediately pay out the difference
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for anyone whose tax basis was greater
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than current estate value?
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:::::::
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<http://news.bbc.co.uk/2/hi/business/2299119.stm>
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> ... Australian cities overall scored particularly highly in the
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> [Economist Intelligence Unit] survey [of desirability for expats],
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> with all five the country's urban centres surveyed ranked near the
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> top of the table.
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>
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> Europe was also well represented among the top 10 places.
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>
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> The top US city, Honolulu, ranked 21st, with Boston, at 28th, the
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> highest ranked city on the US mainland. Canada, in contrast, sneaked
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> three cities into the top ten.
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>
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> The UK cities of London, 44th, and Manchester, 50th, gained only a
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> mid-table rating, with Port Moresby in Papua New Guinea bottom of
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> the list.
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