For many folks the possibility of a hurricane will be less terrifying than the consequences of staying in the U.S. if it continues down its current path.
Between the ecological, sociological, ecosystemic, and political dangers, I am quite literally dumbfounded whenever I hear that someone is willingly moving to Florida.
The Keys seem chill once you get past the whole hurricane thing, but that may be because I’ve watched the show Bad Monkey one too many times. I’ve never actually been to Florida (or most places in the US for that matter, since I’m not American)
Man, I wish I had that kind of cash. But nah, just someone who’s sick of all the posturing on the fediverse. We get it, your horse is the highest. You win.
I mean you’re replying fairly rudely and dismissively when all anyone has said is they wouldn’t choose to be a landlord. The horse is more of a mini pony
Thank you! There’s the internet I know. I know you’re all assholes who would put someone down as soon as you possibly get the chance, so why do you all act like you’re some sort of saints?
If “capital gains not taxed” didn’t leap off the page at you, you are a poor slob who must actually have w-2 income? Keep up the good work while the wealthy sleep soundly on the tax code they bought and wrote.
The article is referring to Caribbean taxes not US taxes. If you have US citizenship, you have to pay taxes to the federal government regardless of where you live, work, or earn your money, and don’t lose your US citizenship just because you become a citizen of another country.
If own the lottery tomorrow, and needed a “no capital gains taxes” state to be a citizen of, this would be sorta tempting.
Also noteworthy, the IRS doesn’t come after international citizens. Sure they can go after you domestically, but if your accounts are not American accounts and your assets are in other nations, you can just live your life not filing taxes without going back to the US as a citizen.
Obtaining a CLN to demonstrate relinquishment of U.S. citizenship has become a lengthy process with high barriers. The total cost of renouncing U.S. citizenship for a person in France, including the cost of preparing the related tax paperwork, has been reported to be € 10 000 – 20 000 on average.[29] Allison Christians of McGill University and Peter Spiro of Temple University have suggested that the complexity and cost of the process, especially the $2350 State Department fee and the potential penalties for failure to file related tax forms, may constitute a breach of the U.S.’ obligation not to impose arbitrary barriers to change of nationality, particularly when applied to accidental Americans who have few genuine links to the United States.
It’s not simple at all and while you can just not file taxes, that’s no guarantee you’ll get away with it much like someone living in the US not filing taxes.
Also lottery winnings is not capital gains income it’s gambling income and they typically take the taxes out before paying you your winnings. Even casinos do this if you win over $1500 at once on a machine for example.
Lastly, the premise being put forth here is that someone is using the Caribbean citizenship as a “tax haven” while still living and earning money in the US, not someone leaving the country and never looking back.
Sorry, but you couldn’t pay me to live in hurricane territory.
Well, unlike tornados or earthquakes…hurricanes have a 3 to 5 day warning for you to prep.
For many folks the possibility of a hurricane will be less terrifying than the consequences of staying in the U.S. if it continues down its current path.
Then there are floridians who have both!
Between the ecological, sociological, ecosystemic, and political dangers, I am quite literally dumbfounded whenever I hear that someone is willingly moving to Florida.
same. some of us are just stuck here though.
The Keys seem chill once you get past the whole hurricane thing, but that may be because I’ve watched the show Bad Monkey one too many times. I’ve never actually been to Florida (or most places in the US for that matter, since I’m not American)
There are islands with 0-day residency requirements. You buy property, you never have to live there, and you still get a passport. You can AirBnB it.
So all I’d need to do is sell out my morals and exploit my fellow citizens…
Nah I’m good.
Is it the Airbnb part that compromises your morals? If so there are also options to make donations and start businesses
Yeah. A big part of the housing crisis in my area is rich assholes buying up homes and air bnb-ing them.
What if you buy the house and rent it to a local for less than other houses in the area?
Holy shit bro you’re so morally superior. Oh god, I’ve never met anyone as moral as you.
I wouldn’t want to be a part of what investors are doing to home ownership here…somewhere else. No.
Your problems aren’t everyone’s problems.
Feel free to join me over here on team people.
Sorry, I don’t need to get my validation by trying to prove my extreme levels of moral correctness on lemmy.
Extreme?
“I don’t want to be a landlord because I think it’s immoral” isn’t extreme.
“Kill all landlords” is extreme.
You need a perspective realignment.
Found the landlord
Man, I wish I had that kind of cash. But nah, just someone who’s sick of all the posturing on the fediverse. We get it, your horse is the highest. You win.
I mean you’re replying fairly rudely and dismissively when all anyone has said is they wouldn’t choose to be a landlord. The horse is more of a mini pony
Being upset that others have morals they openly express has you triggered.
Your contribution to this discussion is a joke. You are a punchline with everyone laughing at you.
Thank you! There’s the internet I know. I know you’re all assholes who would put someone down as soon as you possibly get the chance, so why do you all act like you’re some sort of saints?
This is literally what you did. You could have said nothing but you were compelled to call people out to put them down.
Figure out why you did that and you’ll have your answer.
Right now it seems better than living under this administration.
Most people aren’t even living there, they’re just buying into citizenship and a tax haven.
How is it a tax haven? Even when becoming a citizen in another country the US still requires you to pay taxes.
This reminds me of the Seinfeld episode where Kramer kept insisting that companies “write it off” and Jerry asks if he even knows what that means.
If “capital gains not taxed” didn’t leap off the page at you, you are a poor slob who must actually have w-2 income? Keep up the good work while the wealthy sleep soundly on the tax code they bought and wrote.
The article is referring to Caribbean taxes not US taxes. If you have US citizenship, you have to pay taxes to the federal government regardless of where you live, work, or earn your money, and don’t lose your US citizenship just because you become a citizen of another country.
You can in fact, simply give up US citizenship.
If own the lottery tomorrow, and needed a “no capital gains taxes” state to be a citizen of, this would be sorta tempting.
Also noteworthy, the IRS doesn’t come after international citizens. Sure they can go after you domestically, but if your accounts are not American accounts and your assets are in other nations, you can just live your life not filing taxes without going back to the US as a citizen.
https://en.wikipedia.org/wiki/Relinquishment_of_United_States_nationality
It’s not simple at all and while you can just not file taxes, that’s no guarantee you’ll get away with it much like someone living in the US not filing taxes.
Also lottery winnings is not capital gains income it’s gambling income and they typically take the taxes out before paying you your winnings. Even casinos do this if you win over $1500 at once on a machine for example.
Lastly, the premise being put forth here is that someone is using the Caribbean citizenship as a “tax haven” while still living and earning money in the US, not someone leaving the country and never looking back.
Wouldn’t that only qualify against a 186 day rule?
Check out the Foreign Earned Income Exclusion…
“Earned income” means W2 wages not capital gains or any of the other avenues rich people make their money.
I don’t see how that would apply to someone not actually living outside the US as this sub-thread suggests.