You Can Simply Renounce Your US Citizenship And Leave
There is a phrase in the United States that seems to be gaining momentum — Tax The Rich
Please, let’s dispel this mythology before it becomes a type of parietal art, in Plato’s Cave. The reality is, once you get to the threshold of 10 million in liquid assets — your willingness to pay taxes is simply a personal choice.
The truth is, your tax base is formulated on your residency and where you live is how you are taxed. Some say, ” well shoot, as a US Citizen I must comply with the CBT and FATCA.”
Not quite.
You can simply renounce your US citizenship. Then the stress and indecision will be no more. Now the world is open to you and your money. But, most importantly, without the bone-crushing US Empire breathing down your neck.
Believe me, it’s a liberating feeling.
There are many programs that have investment opportunities for citizenship, and this can be done relatively quickly. You can simply apply for residency permits wherever you want to live. Many services make this very straightforward and simple for you. Then, as a former American — you’re free. You can make investments in zero-tax jurisdictions and not pay a penny in tax. Keeping in mind, some choose to pay tax. In fact, most do. The point is, you have a personal choice.
The objective fact is, the rich don’t have to pay if they don’t want to.
Then, what is Alexandria Ocasio-Cortez and the “Shitlib” squad talking about, anyway? When they say, ‘ Tax The Rich? ‘ In reality, what they mean, is tax the working class poor and put the fucking screws to them — with no mercy.
How do we know this is true?
For utilitarian reasons, billionaires have a global footprint. The American tax system has no mechanism to enforce its laws offshore. For example, if you call the Internal Revenue Service and ask them for help on your offshore tax return, they can’t help you. If you are living in Norway, they do not have the ability to come to your door in Oslo. There is little if any enforcement for Americans overseas. There is no American legal jurisdiction offshore. Essentially, you’re left alone by the Treasury Department, regardless.
Keep in mind, you don’t have to be a billionaire– you can just leave the United States. The majority of Americans that leave the United States simply stop filing taxes, do not bother with a CLN, and simply vanish into the global community. Adding to this, American foreign policy reach is becoming weaker and weaker each year. In fact, most wealthy Americans stay in the United States out of personal choice and choose to pay the tax.
Make no mistake, the wealthy can leave at any time if conditions become intolerable.
Now enter into the American Families Plan
To start with, this bill has nothing to do with taxing the rich. As the Orwellian language in the title suggests, this law is for working-class families. Families that are struggling to pay their basic expenses. Now, the US government is preparing for the largest Internal Revenue Service budget increase in American history. First, a modernization of IT data mining and a massive increase in human resource hiring.
This new law will be set loose on the hapless American working-class like a pack of hungry wolves.
For the first time, the Internal Revenue Service will be monitoring all your banking transactions. This will be coupled with a suffocating and debilitating $10,000 Internal Revenue Service reporting threshold. This is for all domestic personal bank accounts with money flowing in and out, totaling more than $10,000 annually.
In other words, every bank account in the United States will be under The Treasury’s scrutiny, and all your transactions will be reported to the Internal Revenue Service. As if some kind of senatorial sick joke, the first reporting threshold was going to be $600. Another nail in the coffin for retail banking. Probably the end for these institutions. At least one can only hope.
What needs to be made clear, this does not apply to the wealthy. They are used to paying taxes. Most wealthy Americans follow the law and have no problems paying.
If Congress was serious about collecting taxes. They would impose a Wall Street transaction tax and leave the working class alone. Instead, they are trying to squeeze the life out of the last of the patriotic community in the United States.
This is a sad attempt, to appease the urban and rural poor. This is the group of people that almost overran the Whitehouse during the Floyd riots. Then, torched countless government buildings around the country. That is, in fact, what the Congressional Representatives are really afraid of. They are afraid of people that have nothing to lose. Or, Americans simply taking back their rights for a decent human existence. Congress knows if you’re suffering and struggling you cannot fight the government.
Then, what was this childish (old as dirt) ‘Tax The Rich’ stunt by the representative from the Bronx?
First, Alexandria Ocasio-Cortez has no hope of changing the money system in Congress. She neither has the experience nor the strength of character to fight through the power structure in The House. Most likely, self-centered and narcissistic, AOC will do as she is told by The Speaker. Then, pretend she is fighting for the people in the Bronx and north-central Queens.
Wearing a white dress with the phrase ‘Tax The Rich.’ Gives the false impression that AOC is fighting for the urban and rural poor. Of course, there is no space on this dress for “End Systemic Corruption.” Secondly, it sends a message to the (so-called) rich — send more campaign contributions to the Democratic party, if you don’t want to be taxed. But most importantly, it distracts from the American Families Plan’s true purpose — ratcheting the screws onto the poor.
As we know, AOC can not change the power structure in Congress. She has no hope of that. Although Cortez does have a choice of how she can communicate her dissatisfaction. AOC can resign in protest from Congress. Give the money back and document the evidence of Congressional corruption. Then say, — “I will not work to steal money from my constituency any longer and I will not destroy confidence in our institutions.” dump the documents on mirrored sites for everyone to have.
Except the hell to follow.
Of course, they will build a prosecution against her under a false accusation. Then, destroy her in the media. But, If you can fight through that as a person. That is a strength of character– that is leadership. People will recognize it and respect it.
Finally, you can not tax the Chairman of Amazon. Bezos has accountants and lawyers that constantly communicate with the Internal Revenue Service to make sure that they are complying with the law precisely. In fact, most people like Bezos pay more tax than they are legally required to.
Unless you plan to close down a free and Democratic Society entirely. There is no hope in taxing the people that are perceived as rich. They have the resources to change their reality anytime they want. They can simply step on their yacht in the Hamptons and sail to the Tyrrhenian Sea in two weeks. Then, by helicopter, be at the Swiss Chalet in 90 minutes. Most have 3 or 4 passports to choose from. They’re not bad people, just indifferent to a situation they have no hope of controlling, and quite frankly this situation can be quite boring to them.
Meanwhile, AOC is busy sweating it out on the House Floor with her colleagues trying to save her Woke brand. At least that’s my perception of this state of affairs.
Quite frankly, this nonsense is all a waste of time. Sadly, there is nothing that can be done to rectify a $30 trillion debt. Everyone is simply paying into a Black Hole where they are funding their own self-destruction and where the system works against its own interest.
Understanding the nuances of the offshore financial centers can be challenging to say the least. In this newsletter, I talk about aspects of our industry that you may never read about otherwise. Some of my most informative articles are only at Substack. This being the case, my goal is to help you preserve your wealth by sharing my experiences.
For more analysis and ideas, subscribe to my mailing list.