Reply With QuoteA Democrat. Of course. Denying them his money. . .he's lucky to escape with his life.
Hearkening Back to the USSR
Back in the 1970s, the U.S. government passionately pleaded for untrammeled emigration as a fundamental human right. In 1975, the U.S. imposed trade sanctions on the Soviet Union for levying an exit tax on citizens wishing to emigrate (mostly Jews). In a complete reversal of that moral passion, Senator Charles Schumer has nowintroducedlegislation to levy a tax of 30% on assumed capital gains of people like Eduardo Saverin, co-founder of Facebook, for giving up American citizenship and emigrating to Singapore. The exit tax proposed on Saverin and others like him is thousands of times higher than anything the Soviet Union dreamed of.http://www.huffingtonpost.com/swamin...b_1543493.html
Even current U.S. law imposes an exit tax, via imagined capital gains, on anybody who has been a U.S. citizen or a permanent resident for more than seven years. Capital gains are calculated under the presumption that all assets of the emigrant have been sold at the time of emigration. These gains are currently taxed at 15 percent. Schumer wants the rate raised to 30 percent. Further, he wants to ban such persons from ever re-entering the U.S.
Whatever happened to the human rights that the U.S. swore by in the 1970s? The Soviet Union imposed a so-called "diploma tax" on the ground that it should be able to recover the cost of higher education for the emigrants -- its rate of exit tax ($ 5,000 to $ 25,000) rose with the level of education. Enraged by this, Senators "Scoop" Jackson and Charles Vanik pushed through legislation denying Most Favored Nation trade treatment to countries that restricted emigration through measures like an exit tax. Twenty-one American Nobel laureates issued a public statement condemning the exit tax as a "massive violation of human rights."
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A Democrat. Of course. Denying them his money. . .he's lucky to escape with his life.
You are soo soviet my friendOriginally Posted by C.Puffs
A Democrat. Of course. Denying them his money. . .he's lucky to escape with his life.
From the article
Sums it all up there. If your citizens don't like you, don't be surprised that they leave.The ultimate collapse of the Berlin Wall and Soviet Union had a great moral lesson. A nation needs to make itself attractive to its own citizens, not stop their exit. The lesson applies to the U.S. too. It too must make itself attractive to its citizens, rather than penalize them for wanting to leave for more attractive destinations like Singapore.
For a long time, the emigration list for the US was extremely small. That's because we have the highest amount of freedom anywhere in the world. Although that is changing I'm afraid. Our government is inflating at an uncontrollable rate, special interests are having their way into law books, and freedoms are eroding away. The Eduardo Saverin case rose awareness of this upward trend of American emigration. Emigration is the highest it has ever been in history and I think it's a fair yardstick on how well we are doing as a state.
Delete.....
Given the fact that the reason the US ever came into existence was taxes, this is somewhat ironic.
There will be great heaps of irony to come until the people finally get around to sorting out the US managerial elite.
Some wealthy guy residing in California leaving for another country is really going to get slapped. I believe Cali has an exit tax. I wonder if any other states or municipalities have the same regulation.
A Democrat? Why am I not surprised?
Have to fish into your wallet for one big handful before you leave.
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