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Patriotism Has Its Price
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Collateral damage from class warfare are the average, not-at-all-rich American folks living overseas who, because of a law targeting rich people sheltering their incomes in overseas banks, are being forced to renounce their American citizenship against their will to avoid double taxation. Did you know that America is one of only two countries basing income taxes on citizenship and not residence? Did you know that if you'e an expat and everything you earn and own is in another country, you STILL have to pay tax on all of it? Did you know that because the Feds are getting aggressive about it, banks in other countries are now just flat out denying accounts to anyone who is or may be an American citizen, so expats can't even have bank accounts there? Did you know that the politicians who passed the law are fine with this, because they think that going after rich people (who are probably able to find plenty of ways to avoid the taxes anyway) is more important than the damage they're doing to less well-off people? (BBC)
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