Jack Albrecht
Apr 12, 2021

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I'm sure these changes would not have occurred if it were not for Cuomo's multiple major scandals.

Wealth taxes work fine if they are implemented well. The US has had one for years, people just don't talk about it. If you give up your US citizenship, you pay an "exit" tax which is a tax on your world-wide wealth. Yes, doing it yearly is different than one time. But also yes, it is feasible.

France's implementation of their wealth tax was suboptimal, leading unsurprisingly to suboptimal results. Maybe that was by design? Hmm?

US income tax is citizenship based, not residence based. Monaco manages to keep track of who lives there and how long each year to allow you to live there tax-free. This isn't rocket science.

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Jack Albrecht
Jack Albrecht

Written by Jack Albrecht

US expatriate living in the EU; seeing the world from both sides of the Atlantic.

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