Travails of an American Tax-Victim Overseas

thelrcblog-5002

“Go ahead and give up your citizenship.  Just beware that I have a new Exit Tax that you might be subject to.  We deem, or pretend,  that you sold all of your assets and charge you the capital gain tax on those pretend asset sales, though there’s a large exemption.   And also [laughing hysterically and slapping his knee with the palm of his hand] when you really do sell the assets some day [falls out of chair laughing] you’ll have to pay the capital gains tax a second time in Canada.  Love,  Your Dear Leader, President Obama.  PS:  I just decided to increase the fee for giving up citizenship from about $400 to about $3,500.  This should ease the burden of carrying around so much money that you earned.”

http://www.lewrockwell.com/2014/09/andy-sirkis/american-tax-victims-overseas/

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