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Cashports Let People Like Harlan Crow Keep Too Much Hidden

13 点作者 tldrthelaw大约 2 年前

1 comment

LastNevadan大约 2 年前
This author really likes to hear the sound of himself grinding his own axe.<p>For a US citizen, getting a second passport doesn&#x27;t give you a way to escape tax liability. The United States is the only major country that has citizenship-based taxation: you&#x27;re liable for taxes in the US even if you are a physical and tax resident of another country.<p>Virtually all the world&#x27;s banks have written agreements with the United States to collect and report account information to the US government. Their incentive to cooperate is that they&#x27;ll be booted from the SWIFT wire transfer system if they don&#x27;t comply, so obviously all banks want to comply. Because of this, many banks won&#x27;t open accounts for US citizens under any circumstances, and many others will only open accounts under narrow circumstances.<p>US citizens are also obliged to report their foreign accounts to the US government if the aggregate value exceeds $10,000, and the punishment for failure to comply is already very harsh.<p>And why shouldn&#x27;t sovereign countries not have the ability to define their own immigration criteria? If Saint Kitts wants to welcome the wealthy of the world to be citizens, why shouldn&#x27;t they be able to? They have their own due diligence program to filter out undesirable people. Plenty of the world&#x27;s rich have earned their fortunes legally and fairly.
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