Letter Re: The U.S. Expatriation Exit Tax
Hi JWR, Here’s another one for your readers. I’d heard of this “exit tax” a few months ago and it was completely ignored by the mainstream media (MSM). At first blush, it doesn’t appear to impact most people, i.e. only those over $4 million USD net worth for couples who renounce U.S. citizenship and leave. However, we all know how well the alternative minimum tax (AMT)–the so-called millionaire’s tax–worked out. It was supposed to affect only several hundred tax “scofflaws”, and now because of inflation, millions of citizens are affected. A few years of 50% inflation will put most professional …