• Taldan@lemmy.world
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    22 hours ago

    One of the reasons we don’t often see rich people in the United States do this is that we have incredibly low taxes compared to the rest of the world

    The much, much bigger reason we don’t see that in the US is that the US is the only country in the world that can, and does, tax citizens living abroad. Anyone trying to avoid US taxes would have to renounce US citizenship

    • Don_alForno@feddit.org
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      22 hours ago

      Anyone trying to avoid US taxes would have to renounce US citizenship

      … and would then pay a hefty exit tax.

      I’m not convinced on the “only country that can” part though.