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I know at least a dozen people who were actively working on getting a second passport to flee the US pending results of the election.

Curious if it's rich people or people who consume too much MSM?

Sounds like you consume a lot of MSM yourself.

It's not just about taxes. People with EU passports have fewer travel restrictions than those with US passports right now. As was discussed in the article.

malta cyprus, ireland etc are useful for setting up business there . you can set up a local business that receives royalties from other companies and benefit from relatively low tax.

He s probably not doing it for taxes, but for a convenient EU passport and a humble abode in the mediterranean

Can't you set up an offshore business in a tax heaven without being a citizen?

sure. i guess being american means you d have to report dividends back to the IRS.

But Schmidt is not renouncing his citizenship, so he'll still have to report dividends back to the IRS despite also being a Cyprot citizen.