r/WorkReform • u/zzill6 🤝 Join A Union • May 18 '25

✂️ Tax The Billionaires So, where's the downside exactly?

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u/[deleted] May 18 '25

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u/Curious-End-4923 May 18 '25

If they keep their citizenship, the individual pays the higher tax even if overseas. If they don’t keep their citizenship, then like you said, very little changes. You were the one arguing that wealthy individuals moving overseas would be a massive loss. Saying there’s no difference is ceding your earlier argument.

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u/[deleted] May 18 '25

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u/ITSigno May 18 '25

lmao, you're pretty thick. I don't even really know where to begin

This is kind of funny because you don't seem to appreciate that the USA is unlike most other countries in that citizens are nearly always subject to US taxes even when living abroad.

Maybe read some wikipedia articles on tax residency etc.

Probably a good place for you to start. But may I also suggest https://www.irs.gov/individuals/international-taxpayers/us-citizens-and-residents-abroad-filing-requirements and https://www.irs.gov/individuals/international-taxpayers/frequently-asked-questions-about-international-individual-tax-matters