How exactly do you propose to do that? One of Facebook's founders renounced US citizenship because of tax rates.
Again, it's only the rich who can afford to find tax havens and expensive accountants. The middle class is stuck paying taxes.
Again, it's only the rich who can afford to find tax havens and expensive accountants. The middle class is stuck paying taxes.
This is why we need the estate tax (Paris Hilton tax or death tax as opponents like to say) to stay and probably increase in rate.
> For 2017, the estate and gift tax exemption is $5.49 million per individual, up from $5.45 million in 2016. That means an individual can leave $5.49 million to heirs and pay no federal estate or gift tax.
This is plenty generous. We should tax any estate beyond that at a minimum of fifty percent and close all loopholes.
I am not a big fan of income tax on businesses but I can see why we need it.
How is it relevant to giving up citizenship and owning property or company? There's no death involved. If their children are not citizen either, they are not hit by inheritance tax too.
> I am not a big fan of income tax on businesses but I can see why we need it.
VAT is sort of like income tax for businesses. Except it's not taxed on B2B transactions. Which makes sense. Otherwise everybody would bring in whole production chain in-house and we'd be left with huge conglomerates and no SMBs.