Exit Taxes...Shades of a Directive from Atlas Shrugged...!

[Selene]

Here it comes folks...from your local overseer - listen up slave!

Government debts are accrued on your behalf by elected officials for whom you had a chance to vote, all supposedly representing your interests. In a democracy, all citizens are obliged to pay the government's bills as determined by the duly empowered taxing authorities - regardless of whether they voted for a particular officeholder or not. What's to stop legislators from passing laws that make debt obligations due and payable by any citizen who decides to leave for another jurisdiction? After all, they don't

http://www.realclearmarkets.com/articles/2012/12/17/when_will_death_spiral_states_impose_taxes_on_fleeing_citizens_100047.html

So, now does a real strike become more credible?

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[dennislmay]

This makes it all the more important to never locate in one of the growing number of Marxist oriented states.

Leave as soon as you can, as best you can and do no business there if at all possible, minimize if you can't

avoid them completely.

Dennis

[Selene]

Well I'll be damned...an exit tax already is law when you renounce your US citizenship which is becoming increasing higher...

For many, their tax bills constitute a financial breaking point. Particularly for people who spend most of their time outside of the United States and are constantly hamstrung by worldwide taxation and information disclosures, the burden for many of them has just become too much to bear.

The US government figured this out some years ago and began charging an exit tax to certain high income / high net worth expatriates seeking to renounce.

This applies to anyone whose average US tax liability over the last five years was about $150,000 (the equivalent of roughly $500,000 in taxable income in 2012 dollars), and/or has a net worth of at least $2 million on the date of expatriation. Curiously this net worth figure does not adjust with inflation.

The ironic thing is that in the "Act of July 27, 1868", the United States Congress declared that "the right of expatriation is a natural and inherent right of all people, indispensable to the enjoyment of the rights of life, liberty, and the pursuit of happiness."

http://www.zerohedge.com/news/2013-08-08/americans-renouncing-citizenship-surge-66

[Mikee]

Looters. Scum. We don't live in a free country anymore. "Land of the free and home of the brave" is "land of the handouts and home of the corrupt". The 4th of July fireworks are just a light show now, there's nothing left to celebrate.

[Selene]

Looters. Scum. We don't live in a free country anymore. "Land of the free and home of the brave" is "land of the handouts and home of the corrupt". The 4th of July fireworks are just a light show now, there's nothing left to celebrate.

Totally agree. Mark Levin's newest book, The Liberty Amendments will be released next week. He is a genius. He is laying out our last ditch strategy which goes through the State conventions to propose amendments to the Constitution.

He states clearly that this may take a hundred (100). However, since we live in a post Constitutional statist country, it is out only hope.

I agree with him. I know walk around with two books, Atlas Shrugged and my pocket Constitution which includes the Declaration of Independence. The latter fits nicely in my breast pocket over my heart, the former fits nicely in my hand.

I would recommend that all of you read the first chapter of the book that will be released next week. It is available here on his website:

http://www.marklevinshow.com/ you will have to navigate the site to find the first chapter.

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[Reidy]

He doesn't mean it. Read the last three paragraphs.

[Selene]

He doesn't mean it. Read the last three paragraphs.

By he, you mean, who?

[Selene]

He doesn't mean it. Read the last three paragraphs.

That is what you got from these paragraphs?

Here is the third from the end paragraph:

I have no illusions about the political difficulty in rallying support for amending the Constitution by this process. After all, allpast efforts have fallen short. And the governing masterminds and their disciples are more powerful and strident than ever. There is no doubt that their resistance will be stubborn and their tactics desperate as they unleash the instrumentalities of the federal government and the outlets of a corroboratory media to vanquish such a movement and subdue the public. Having rejected the Constitution’s limits, they will not be persuaded by references to its text and history. Their evasion has been their design. Others who self-identify as originalists, constitutionalists, and conservatives in asserting allegiance to the Constitution, as I do, might nonetheless be wary of or opposed reflexively to the state convention process for several reasons, including their unfamiliarity with its history and workings. Perhaps, in time, their high regard for the Constitution will persuade them of the judiciousness in resorting to it before there is little left of it. Still more may be resigned to a grim future, preferring lamentation to the hard work of purposeful action. And, of course, there are always the unmindful and content.

This is the second paragraph from the end of chapter one (1):

Whatever the reasons, there are also untold numbers of citizens who comprehend the perilousness of the times and circumstances, and the urgency of drawing the nation’s attention to the restoration of constitutional republicanism. This book is an appeal to them. he Framers anticipated this day might arrive, for they knew that republics deteriorate at first from within. They provided a lawful and civil way to repair what has transpired. We,the people, through our state legislatures—and the state legislatures, acting collectively—have enormous power to constrain the federal government, reestablish self-government, and secure individual sovereignty.

This is the final paragraph of chapter one (1):

What follows are proposed amendments to the Constitution—The Liberty Amendments. It is my hope and aspiration for our country that these amendments can spur interest in and, ultimately, support for the state convention process. In any event,should there come a time, sooner or later, when the states convene a convention, these amendments or amendments of the same nature—as I make no claim of unassailable knowledge—may prove useful and find their way into the debate. But a plan is what is needed, as is a first step. This is mine.

From these rational and reality based statements, you infer that he does not mean what he said?

Here is the link to the first chapter, judge for yourself:

http://citadelcc.vo.llnwd.net/o29/network/Levin/hosted_files/LibertyAmendmentsCh1.pdf

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[Reidy]

Clarification: I meant the last three paragraphs of the Frezza piece that started this thread: http://www.realclearmarkets.com/articles/2012/12/17/when_will_death_spiral_states_impose_taxes_on_fleeing_citizens_100047.html

[caroljane]

I wish Canada had an exit tax retroactive to when Lord Black renounced his citizenship! He would have evaded paying it though.

[Selene]

Clarification: I meant the last three paragraphs of the Frezza piece that started this thread: http://www.realclearmarkets.com/articles/2012/12/17/when_will_death_spiral_states_impose_taxes_on_fleeing_citizens_100047.html

Phew...Pete, I respect your mind and analysis.

You really had me worried on that one...lol.

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