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Seante Bill Nullifying Tax Exemptions for US Citizens...

 
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bnix



Joined: 16 Jan 2003
Posts: 645

PostPosted: Fri May 16, 2003 4:29 am    Post subject: Seante Bill Nullifying Tax Exemptions for US Citizens... Reply with quote

Bad news.According to news on the NET,this thing has made it through the Senate,despite the efforts of a senator,John Breaux(from Louisiana0 to kiil the thing.It now goes to the House...where differing versions of the tax cut bill must be reconciled....if this thing gets through the House too,as it is...we could lose all(or at least most) of our current tax free status.Although they will give us credit for tax paid to the foreign government in the country where we are working(if you pay any tax there).

Please write...email...somehow contact your congressman...ask him or her to oppose HR2...that is the House version.

It is interesting to note that while they are trying to take our exemption away(teachers make SO much money Rolling Eyes )....they are trying to nullify taxes on things like dividends...."Big George" and his cronies....always have the little guy in mind Rolling Eyes
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veiledsentiments



Joined: 20 Feb 2003
Posts: 16063
Location: USA

PostPosted: Fri May 16, 2003 2:37 pm    Post subject: Reply with quote

For those of you who are writing your congressperson, one point you may want to emphasize is that American companies use foreign addresses to avoid taxation - such as getting a PO Box on an island in the Caribbean.

Why should individuals who are actually working and residing overseas have to pay taxes??

This is what I find unfair about the whole thing.
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