As for the first part, can you cite a reference for that claim? The second part is false. The Heart-Act replaced the 10 year rule for citizens expatriating after June 08. So, a lot of the the things you were saying in later posts based on this don't apply.
LOL moron, the exact same story has already been told on ET. somebody's a fucking liar So who's the jackass, you or gnome? Maybe both. P.S. LOL, how perfect.
The irreconcilability of a renouncement of U.S. citizenship is outlined on the State Department website. Look under section G. in the instructions for renunciation. So, inform us of the changes in the Heat-Act. Don't just criticize, add something to the discussion.
All you Obama critics are forgetting one small detail. He is walking in to office with historically massive debt thanks to the current lamo in office. Hes got to do something. And 'redistribution of wealth' as it is so labeled has been around for years in many forms. (and yes the republicans have had their hand in the jar as well). As for the experiment. I honestly doubt that the person who didnt get the tip would be making enough money to be affected by Obamas 'Redistribution Policies' anyway. And if you wanna blame anyone, blame the retards who voted Bush in for 8 years. People may not have kicked them out if he hadnt fucked up so badly
It says the ACT of renunciation is irrevocable... it says nothing of refusing a future attempt to citizenship as a foreign national. I didn't criticize. Just pointed out what you were saying was no longer valid because the law has changed... I don't know, I think that adds a lot to the discussion. Regardless, information has already been posted on this thread regarding the details of the Heart-Act. If you want more info, search through Mondaq... there's a good article on there.
Yes, I suppose you can immigrate to the United States. As a person who has done that and who went through the process again with my spouse, I can tell you that it is incredibly difficult to do. One of the things that will be considered is that you renounced your citizenship in the first place and it will work against you - assuming you can get a greencard in to begin the process in the first place. I read Mondaq. Does the exit tax actually replace the 10 year income tax obligation and are sales of assets assessed a capital gains tax when they are sold as well as the exit tax on unrealized capital gains? I'm not a lawyer, so this isn't clear to me and I'd appreciate your input. I looked through this thread again and I don't see any discussion at all about the HEART Act.
Yeah, I read that story and posted like I'd done it myself.. just to see if I'd get a rise out of the NObamabots... Regardless of the culprit, principle is the same.
Yes, the exit tax replaces the 10yr income obligation. Also, the 30 day rule (if you come in for 30 days or more you revert to being taxed as a citizen) was repealed. Good question on the future sale of capital gains, I'm not sure if you'd be doubly taxed, from reading it doesn't look like it... the act says you just calculate current mark to market value as basis. I would assume if the capital asset isn't a business, then you wouldn't be taxed again, and most likely only pay the difference if worth more if it WAS a business. There is though, a clause for deferral of payment until the actual sale of the asset on an asset by asset basis (of your choosing), so this may negate any double tax threat if any. This is the article I was referring to: http://www.mondaq.com/article.asp?articleid=63662 All in all, it looks like it's quite an improvement for people who aren't high net worth individuals, and a bit of a toss up for those who are. So, while still absurd, it's a lot less draconian.