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I'm noting Obamagedoon, but generally the people here only like to post if it looks like Obama is succeeding.
I posted this specifically for the dual citizens here who had some concerns about being forced to pay US taxes.
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actually Obama wants to extend the Bush Tax cuts to the middle class.
I think the story has little to do with Obama, and more to do with the global economic climate :
Quote:
"Expatriation makes the most sense when asset values are historically low and tax rates are historically low. Her timing may have had something to do with that," tax attorney David S. Miller of Cadwalader, Wickersham, & Taft LLP said.
No, the story is about her not wanting to pay taxes in two countries and is willing to give up one of the world's most desirable citizenships in order to do so...and strangely enough, she's not the only one.
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it wasn't HER lawyer who was quoted, just a Tax Lawyer who was lending his expert opinion to the article.
Quote:
Originally Posted by kps
No, the story is about her not wanting to pay taxes in two countries and is willing to give up one of the world's most desirable citizenships in order to do so...and strangely enough, she's not the only one.
i agree completely. it's about that, and not anything about Obama. She already lives in London, in the twilight of her life, and probably settled down there.
The US has brutal tax laws on residents living abroad. It's a financial decision.
As for the "one of the world's most desirable citizenships", Conrad Black renounced his Canadian citizenship for a lousy title...and i'd rate Canadian Citizenship up there as pretty desirable.
People do things for their own reasons, and own self interests all the time.
it wasn't HER lawyer who was quoted, just a Tax Lawyer who was lending his expert opinion to the article.
i agree completely. it's about that, and not anything about Obama. She already lives in London, in the twilight of her life, and probably settled down there.
The US has brutal tax laws on residents living abroad. It's a financial decision.
As for the "one of the world's most desirable citizenships", Conrad Black renounced his Canadian citizenship for a lousy title...and i'd rate Canadian Citizenship up there as pretty desirable.
People do things for their own reasons, and own self interests all the time.
it wasn't HER lawyer who was quoted, just a Tax Lawyer who was lending his expert opinion to the article.
i agree completely. it's about that, and not anything about Obama. She already lives in London, in the twilight of her life, and probably settled down there.
The US has brutal tax laws on residents living abroad. It's a financial decision.
As for the "one of the world's most desirable citizenships", Conrad Black renounced his Canadian citizenship for a lousy title...and i'd rate Canadian Citizenship up there as pretty desirable.
People do things for their own reasons, and own self interests all the time.
You are completely right. Throughout several campaigns there has been quite a few instances I can recall where a number of US citizens have publicly made a big show of announcing their desire to leave the US and denounce their US citizenship for some reason or another. If it's for some reasons to protest the republicans, well they're just a bunch socialist whiners. If it's something the democrats have done, suddenly they have good reason! It's a difficult argument to win. If not impossible.
It is true that Obama has stated that if he is brought a bill that extends the tax cuts on the middle class he'll sign it. Period. I think that's pretty clear.
What the big problem is, is he wants to tax the rich as it has been shown many many times that they do NOT pay their fair share, and there is a big campaign to convince everyone that Obama is simply big taxes. When in fact the very people being convinced of this nonsense would be the ones getting the tax cuts (or would be) should the bill ever be agreed on. Sort of what we saw with those tea party demonstrations that had people with no health insurance at all, holding placards denouncing the healthcare plans that he would benefit from, while supporting the obscene tax cuts to the rich (which somehow, we could afford!)
Similar problems here in Canada, where we were told that we all have to wait for our tax cuts when our government has balanced the budget. But boy, the rich sure got theirs with the corporate tax cut, which was supposed to create jobs! Well they took effect a while ago, and w're seeing a slowdown in hiring.
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