Cost of Renouncing US Citizenship Goes To $2,350

[Taco]

There's going to be lots of one way flights leaving the US. After SHTF you can apply for refugee status in another country, Switzerland would be my choice.

[Hero]

There's going to be lots of one way flights leaving the US. After SHTF you can apply for refugee status in another country, Switzerland would be my choice.

Will the Swiss be willing to stand up to the USA instead of just extraditing the refugees? After all, they caved right in to US pressure to reveal the identities of those bank account holders.

[Jester]

The foreign tax credit isn't exactly breaking news.

The breaking news, if you'll re-read, is that it doesn't have to be with a treaty country. That information is available on no general expat site and no big-accounting firm site in public, easily accessible format. If you have information to the contrary, post it. Till then, my statement above stands.

Tax treaties are generally known if you do web research. If you check big-accounting-company websites, they will tell expats that a particular non-OECD country does NOT have a tax treaty, and that therefore there iS double taxation of investment income.

So many men would be dissuaded from living in ButtFuckistan, with no tax treaty, and would feel restricted to choosing an OECD country.

Clear?

So yes, it WAS breaking news.

If you hold an international stock index you'll see a clear exemption for it.

Not clear what you mean by that. Noone here is concerned with your mutual funds.

[Moretorque]

Lennon Stated we will get rid of the middle class through taxation and inflation but what most did probably not realize he was talking world wide.