“Only two nations in the world tax their citizens who live abroad. One of them is a small and vicious African dictatorship. The other is the world’s most powerful democracy. Does the U.S. really want to share this distinction with Eritrea?” asks Bloomberg View.
“It’s true that most expatriate Americans end up with no U.S. taxes to pay on their worldwide income, because they can exclude some income and offset host country taxes against what remains. Yet all must file and many do pay, because anomalies are rife. Apart from this, the principle is simply wrong. ”
“The taxation of Americans abroad was designed to deter draft dodgers who fled the country to avoid fighting the Civil War more than 150 years ago. From the beginning, in other words, bad intentions were assumed. Yet hardly any of the estimated 7.6 million U.S. expatriates today are trying to evade taxes — indeed, most pay more than they would at home.”Save to Favorites