For example, two people each own identical houses. One lives in the US and one lives outside. Both decide to keep it until they die. They both owe property taxes. If the person living outside of the US renounces their citizenship, they owe an exit tax even though they did not sell the property. The value of the house didn’t change. It’s location, owner, property tax obligation… Nothing changed.
There is nothing wrong with this. It should just be applied equally. If there is going to be a wealth tax, I want it applied to wealthy Americans even if they don’t renounce their citizenship.
This is not the same thing as an exit tax.
For example, two people each own identical houses. One lives in the US and one lives outside. Both decide to keep it until they die. They both owe property taxes. If the person living outside of the US renounces their citizenship, they owe an exit tax even though they did not sell the property. The value of the house didn’t change. It’s location, owner, property tax obligation… Nothing changed.
There is nothing wrong with this. It should just be applied equally. If there is going to be a wealth tax, I want it applied to wealthy Americans even if they don’t renounce their citizenship.
You flat out said it…
Fuck it, I’m just blocking, I don’t want roped into another one of these