Like his intellectual idol Adolf Hitler, Sen. Chuck “the Schmuck” Schumer wants to embellish the already existing Nazi-like Expatriation Tax (actually, the U.S. tax is much worse than the Nazis’) that is imposed on all U.S. citizens who renounce their citizenship who have a net worth of $2 million dollars or more. The name for this act is “Ex-PATRIOT” — “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy.” (Is the government “clever,” or what, when it comes to creating acronyms for its fascistic decrees? Too bad it’s impossible for it to be clever enough to ever be an efficiently-run organization.) The impetus for the legislation (another form of this legislation is being introduced into the House of Representatives by Rep. Joseph “Goebbels” Lieberman) is the announcement by Facebook Co-Founder Eduaro Severin (who himself is not even a natural born U.S. citizen!) that he is renouncing his citizenship because he has taken up permanent residence in Singapore. (It only takes two years of residency in Singapore to apply for a citizenship. Unlike the United States, Singapore does not allow dual-citizenship .)
But there is one bright spot to this piece of legislation: “The plan would bar individuals [who expatriate]…from ever reentering the United States again.”
When can I start my own expatriation process?
[Thanks to John Hightower]11:26 am on May 17, 2012 Email David Kramer