this post was submitted on 05 Nov 2025
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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
... and would then pay a hefty exit tax.
I'm not convinced on the "only country that can" part though.
Huh, TIL. Didn't realize the US had an exit tax. Sounds like it forces a sale of US based assets when you renounce citizenship, then you have to pay taxes on that
The US only taxes the difference between the country's tax amount and the US tax amount, at least. Someone living in Sweden may not have to pay anything while someone in Thailand may owe most of their taxes to the US. It still is wild that they demand tax money from citizens all over the world though.
That is true, although I doubt many rich people care where the tax money goes. They just care about the amount they get taxed