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Joined 3 years ago
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Cake day: August 5th, 2023

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  • Nationality is a cultural thing, doesn’t matter legaly.
    Citizenship is what I think you mean.

    If you left the US as an infant with citizenship. You still have all the benefits of being a citizen abroad. You can turn to the US embassy or consulate with any problems you have. You can visit the US any time you like, without asking for any permission. You could decide on a whim to move there one day, no questions asked. You can even vote for President in elections.

    If you were raised in the US, went to school there, maybe university; your career is built on the services provided by US tax payers. Paying back into that system that made you who you are, is only the right thing to do. And you also have all the previous reasons as well.

    If you ever realy decide you’ll never go back, and have nothing to gain from US citizenship, you can renounce it any time you like. And just like that! No more US taxes.











  • so to introduce a “wealth tax” would mean to create a new category (“Federal Wealth Tax”) that taxes all net wealth except real estate (which is already taxed on the state level), am i seeing this correctly?

    The details haven’t been worked out. It may or not include locally taxed properties. California’s one time billionaire tax I don’t think cares if it’s been taxed or not already.

    how do you assess the total wealth of a person, once they have moved their stuff abroad?

    They can’t move a lot of it. It’s mostly shares in companies, bonds, commodities, all traded on public markets. Some is in private markets. But that’s still all managed by banks. Banks all around the world started sharing data in 2016. So governments now have access to people’s international holdings.

    Things like cars, boats, paintings, various high value sundries, they have insurance values that could be used.

    In short, very carefully. Some things may be missed, but the vast majority of their wealth can be found and calculated.