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0 pointsdghlsakjg5y ago0 comments

There is an expatriation tax for people leaving the US. It is one of the more clear cut wealth taxes that we have in the US.

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anonymoushn5y ago· 2 in thread

Currently people owe capital gains tax on all their assets as if they were sold when they expatriate, which is pretty modest compared to any annual wealth tax. In my case, since being an arbitrageur or market maker means you pay income tax rates on all your gains, the expatriation tax is roughly 0.

dghlsakjgOP5y ago

The marginal cost is 0.

But don't you lose out on a lot of benefits of citizenship as well (visa free travel, etc.)? If you want to trade in US markets you are still liable for US taxes regardless.

As a US citizen permanently living abroad, I'm really annoyed at having to file, but I'm not even contemplating renouncing my citizenship.

Quite honestly, I pay slightly higher income taxes in the country I live in, and I'm happy to do it. If I were ever eligible for a wealth tax (besides the property tax almost all middle class people pay, which is very much a wealth tax), I would be fine paying it.

thiago_fm5y ago

But are you extremely rich?

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