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U.S. citizens: Renouncing your citizenship for tax purposes
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jinju



Joined: 22 Jan 2006

PostPosted: Thu Dec 21, 2006 4:54 pm    Post subject: Reply with quote

Bibbitybop wrote:
Jinju said
Quote:
So whats the problem? She values money and her kids over some arbitrary thing like citizenshop.Money, kids are real things. Citizenship is an abstract illusion. Why should she give money to a country she doesnt even live in and has no plans to live in, ever? Nationlism, patriotism, these are stupid concepts created to enslave the minds of the commoners.


I agree with most of that, except having no citizenship can cause you to be unprotected in a war or some legal issues. If you have no citizenship, can you have a passport and travel anywhere?


Thats pretty much the only reason to have citizenship. I have 2Smile
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Bibbitybop



Joined: 22 Feb 2006
Location: Seoul

PostPosted: Thu Dec 21, 2006 6:11 pm    Post subject: Reply with quote

ChopChaeJoe said
Quote:
People dump on texas because they're jealous


Having family in Texas, friends from Texas and encountering Texans in the U.S. and abroad, I find your quote amusing. I would hate to live in Texas and act like the stereotypical, arrogant Texan.

"Steers and *ueers, steers and *ueers, where you come from just steers and *ueers, and you ain't got no horns, boy." Can anyone name that artist?
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Spitting Llama



Joined: 08 Dec 2006

PostPosted: Thu Dec 21, 2006 6:51 pm    Post subject: New Tax Law Reply with quote

I recently returned from a trip back Stateside and learned that the limit of money earned overseas before taxation has been adjusted from 70,000 to 80,000 USD. That's total not yearly, so this year I will pass that and I'm about to download previous couple of years from the IRS website. They usually take the forms from 2-3 years prior off the site thus complicating things immensely.

P.S. Texas Sucks, Give us Austin and the Dallas Mavericks and we'll let you go quietly. Wooooo Pig Soooie! Wink
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Hollywoodaction



Joined: 02 Jul 2004

PostPosted: Thu Dec 21, 2006 7:13 pm    Post subject: Reply with quote

BJWD wrote:
I'm going to assume none.


Some do. But some are not Americans and many don't declare the full amount of their revenue on their American, and probably Korean, income tax forms.
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Adventurer



Joined: 28 Jan 2006

PostPosted: Fri Dec 22, 2006 7:41 am    Post subject: Reply with quote

Bibbitybop wrote:
Jinju said
Quote:
So whats the problem? She values money and her kids over some arbitrary thing like citizenshop.Money, kids are real things. Citizenship is an abstract illusion. Why should she give money to a country she doesnt even live in and has no plans to live in, ever? Nationlism, patriotism, these are stupid concepts created to enslave the minds of the commoners.


I agree with most of that, except having no citizenship can cause you to be unprotected in a war or some legal issues. If you have no citizenship, can you have a passport and travel anywhere?


She has lived in Switzerland for 16 years i.e. from 1990 to 2006. That is probably a long enough time for a wealthy person to acquire Swiss citizenship. There is a good chance she has Swiss citizenship and people all over the world like Switzerland except in Korea, and if she has a lot of money tied in Switzerland, and it would be a financial to file in both places, and she doesn't want to be taxed twice.
Why is American citizenship necessarily better than Swiss citizenship if she has it? It is her choice, anyway.
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Hollywoodaction



Joined: 02 Jul 2004

PostPosted: Fri Dec 22, 2006 5:14 pm    Post subject: Reply with quote

Adventurer wrote:
Bibbitybop wrote:
Jinju said
Quote:
So whats the problem? She values money and her kids over some arbitrary thing like citizenshop.Money, kids are real things. Citizenship is an abstract illusion. Why should she give money to a country she doesnt even live in and has no plans to live in, ever? Nationlism, patriotism, these are stupid concepts created to enslave the minds of the commoners.


I agree with most of that, except having no citizenship can cause you to be unprotected in a war or some legal issues. If you have no citizenship, can you have a passport and travel anywhere?


She has lived in Switzerland for 16 years i.e. from 1990 to 2006. That is probably a long enough time for a wealthy person to acquire Swiss citizenship. There is a good chance she has Swiss citizenship and people all over the world like Switzerland except in Korea, and if she has a lot of money tied in Switzerland, and it would be a financial to file in both places, and she doesn't want to be taxed twice.
Why is American citizenship necessarily better than Swiss citizenship if she has it? It is her choice, anyway.


Yeah, I was thinking the same. On top of that, it's not as if she needs her US passport to protect her in case someone attacks Switzerland.
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