Quote...the U.S. is the only industrialized nation that taxes its overseas citizens, subjecting them to taxation in both their country of citizenship and country of residence.
http://www.time.com/time/world/article/0,8599,1983238,00.html
So when are you leaving?
Really....get out of here if you don't love it.
Quote from: fotd on April 24, 2010, 12:00:25 PM
Really....get out of here if you don't love it.
Now how many times have I thought the same thing about you and this forum (I mean, before you were tossed).
Quote from: guido911 on April 24, 2010, 12:07:08 PM
Now how many times have I thought the same thing about you and this forum (I mean, before you were tossed yourself).
Hmmmm.....
Quote from: guido911 on April 24, 2010, 10:50:29 AM
http://www.time.com/time/world/article/0,8599,1983238,00.html
You, of course, fail to mention that only foreign income over $75,000 or so is taxed, and over that, you get a credit for taxes paid to the foreign jurisdiction, so if the tax rate in your country of residence is higher than the US tax rate (most are), you pay no US taxes, although you do have to file so as to show you don't owe any income tax.
But hey, pointing out the reasonableness of the tax code in this case wouldn't achieve your goal, would it?
Quote from: nathanm on April 24, 2010, 03:44:10 PM
You, of course, fail to mention that only foreign income over $75,000 or so is taxed, and over that, you get a credit for taxes paid to the foreign jurisdiction, so if the tax rate in your country of residence is higher than the US tax rate (most are), you pay no US taxes, although you do have to file so as to show you don't owe any income tax.
But hey, pointing out the reasonableness of the tax code in this case wouldn't achieve your goal, would it?
I failed to mention a lot of things in my original post. In fact, I mentioned nothing. But hey, since you chose to engage me anyway...Read the article again. There are several examples of people who want to quit their citizenship over U.S. tax policy. Are they morons who just don't know they are not being double taxed? In any case, why should a U.S. citizen living abroad, earning money abroad, have to disclose any of their income information to the U.S.?
Quote from: guido911 on April 24, 2010, 04:45:58 PM
In any case, why should a U.S. citizen living abroad, earning money abroad, have to disclose any of their income information to the U.S.?
I'd expect it would be the same reason I have to pay Oklahoma income tax on income I earn in Kansas and pay Kansas tax on if the Kansas tax is lower than the Oklahoma income tax.
Quote from: nathanm on April 24, 2010, 04:54:40 PM
I'd expect it would be the same reason I have to pay Oklahoma income tax on income I earn in Kansas and pay Kansas tax on if the Kansas tax is lower than the Oklahoma income tax.
Come on, you know that example is bogus.
Quote from: nathanm on April 24, 2010, 04:54:40 PM
I'd expect it would be the same reason I have to pay Oklahoma income tax on income I earn in Kansas and pay Kansas tax on if the Kansas tax is lower than the Oklahoma income tax.
You still live in Oklahoma, don't you? I would understand the tax if the people resided in the U.S., or even owned property or earned money within the states. But then again, if they don't have any interests in the U.S., then what do they need a citizenship for anyhow? But that's just my thoughts on the matter
Quote from: custosnox on April 24, 2010, 06:03:11 PM
You still live in Oklahoma, don't you?
I'm a
citizen of Oklahoma, who sometimes doesn't work here. Same as a citizen of the US sometimes working overseas.
Obviously, if I'm working in Kansas I'm not using any resources in Oklahoma.
Quote from: nathanm on April 24, 2010, 07:02:10 PM
I'm a citizen of Oklahoma, who sometimes doesn't work here. Same as a citizen of the US sometimes working overseas.
Obviously, if I'm working in Kansas I'm not using any resources in Oklahoma.
Most of the residents in this article were non-US earners (or that is what I gathered from the article). They also resided in the other countries. From the way the article presented them, they seemed to be more citizens of the other countries (as shown by the passports from those countries) then this one and becoming more tourists then residents of this country. Your analogy doesn't quiet line up here.
Also, if your working in Kansas but living in Oklahoma, you still use Oklahoma transportation to get to the Kansas borders, thus using resources in Oklahoma. However, I also think that if you earn money in Kansas then you should pay an income tax there, and not here, and pay an income tax on monies earned in Oklahoma here, not there. Other taxes such as property, vehicle, sales etc. should be paid respectivly.
Quote from: fotd on April 24, 2010, 12:00:25 PM
Really....get out of here if you don't love it.
That's such a ridiculous attitude ::)
Quote from: custosnox on April 24, 2010, 07:21:32 PM
Most of the residents in this article were non-US earners (or that is what I gathered from the article). They also resided in the other countries. From the way the article presented them, they seemed to be more citizens of the other countries (as shown by the passports from those countries) then this one and becoming more tourists then residents of this country. Your analogy doesn't quiet line up here.
Also, if your working in Kansas but living in Oklahoma, you still use Oklahoma transportation to get to the Kansas borders, thus using resources in Oklahoma. However, I also think that if you earn money in Kansas then you should pay an income tax there, and not here, and pay an income tax on monies earned in Oklahoma here, not there. Other taxes such as property, vehicle, sales etc. should be paid respectivly.
I'll throw one more in... sales tax. If you buy something in another state, why should you pay OK (and local) sales tax. It' easy to "cheat" on small items but try to buy something like a car or airplane and the state will want their money. OK doesn't have an exclusive on that. Last I heard, Maine wants sales tax on airplanes if you are a visitor for more than just a little bit. I wouldn't fly my airplane there for any time because of the possibility of paying that tax. Could you imagine paying sales tax on every state you drove your car through? I won't address internet sales in this post, just legitimate purchases from out of state.
Quote from: HoneySuckle on May 01, 2010, 08:01:36 PM
That's such a ridiculous attitude ::)
He was being sarcastic... or ironic... or perhaps a snarky combination of the two.
Sometimes it was hard to keep track....
Dont let the door hit you in the butt as you leave.The sooner the better.
I know there's at least one guy about to have his citizenship terminated...