Let em go,

Reader comment on: What If the Rich Leave?

Submitted by Lyle (United States), Apr 13, 2010 16:51

If they don't want to stay here, they basically have the tax shelter countries to go to. Europe is not low tax, (google french taxes for example). Since they get to pay capital gains as if they sold everything the day they expatriated themselves, that's current revenue. We do need to add one additional penalty, a permanent bar waviable only by the Sec of State to reentering the U.S. under all circumstances, (If they get sick get treated where they live). Note also that if an expat gives money to someone in the US it's a taxable event. The question is how many of the 500 were permanent residents who saw the economy in their home country as better. (There are reports that a number of Indians now think they can get a better chance in India, fine, a rising tide there lifts all boats. )

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