You should not support this bill. The issue of how unfair the US tax system is to its citizens who reside outside the US has been studied ENOUGH!
This bill could have been relevant 15 years ago when Washington was less aware, but it’s just a waste of time today.
Supporting this bill gives the illusion Congress is addressing the problem whilst, in fact, all it does is kick the can down the road.
There is only one solution: change to residency based taxation.
@ExpatriationLaw
The debt will inflate away as long as the state stops spending recklessly.
But here’s what the UK should do: borrow more. But to invest in infrastructure, power, etc. This still puts fiscal spending into the economy but for the creation of productive assets.
At the same time, the UK must reduce taxes and regulations.
This is the way.
My bill to legalize peeling bananas has passed the house! current law made it functionally impossible to peel a banana at many daycares but seamless to open a bag of chips-my bill creates a separate class for healthy low risk foods like peeled fruit and veggies and ensures day cares aren’t punished for serving them - when laws are centered on listening to people who are most impacted by them (kids, parents and daycare workers-rather than lawyers and big corporations) we get better policy!
The emerging American tax logic right now is something like:
- we can’t tax the poor because they’re poor
- we can’t tax the working class because they work
- we can’t tax tips bc that’s just unfair
- we can’t tax businesses because they create work
- we can’t tax property bc homeowners have it hard enough
- we can’t tax billionaires because their contributions are so precious and also they might move or get mad or give your primary opponent $10m
- and we can’t tax pensioners because they’ve “earned it.”
It’s like the accommodative parenting style of politics. Every group is so very special it needs a tax jubilee.
I guess that leaves … tariffs?
@Just_AnS_@L0laL33tz Yes, of course we can. We can make totally anonymous age verification technology. The current providers don’t do it because they don’t want to make it truly anonymous.
@ParvizMalakouti@HannahDCox@LP_CLC A Constitutional amendment guaranteeing the freedom to transact would also be top of the list. Private property rights require the freedom to transact. But the ability to do so is under threat in the digital age.
Podcast time:
The World After Davos!
Despite Trump's last minute "deal" theatrics, the world is now changed. W hy the US/EU partnership will not recover, the implications for economics, diplomacy, borders and markets.
https://t.co/0UJmaqlSTr
Although the blame certainly is on Trump, @BarackObama’s pivot to Asia did not help matters. His administration was not interested in Europe, and in many ways, it was the beginning of the end of Trasatlanticism. After the disaster of the Iraq war years, Europeans looked to Obama for a reset, but he wasn’t too interested.
It’s too bad different choices were not made over the last 26 years. A strong European-American partnership certainly would have been a preferable result in my view.
When is @theallinpod going to discover citizenship based tax?
There’s nowhere @friedberg can move to escape what he fears is coming so long as the US continues to impose its tax based on citizenship vs taxing based on residency. I strongly encourage @chamath, @Jason and @DavidSacks to get involved with the cause to end citizenship based taxation and hold President Trump to his campaign promise to end double taxation.
🚨 POD UP!
-- Iran's Breaking Point
-- Trump's Greenland Acquisition
-- Solving Energy Prices
-- Billionaire Tax Backlash
(0:00) Bestie intros!
(4:18) Iran's breaking point: regime change coming?
(14:28) Solving energy prices: Microsoft is first hyperscaler to "pay its own way" and subsidize residential electric costs
(31:18) OpenAI's compute deal with Cerebras, the renaissance in decode silicon
(35:09) Billionaire backlash in California: Wealth Tax exodus
(56:13) Greenland acquisition: Why it's crucial
The UK did itself no favours post Brexit by creating a mini-Brussels like regulatory state. The high regulation mentality is the same on either side of the Channel.
The solutions for Europe are simple: focus on energy (cheaper and more abundant) and sensible/streamlined regulations in general. Europe is still a most desirable place to live.
@FraserNelson I don’t even understand how this country functions. The salaries are so pitifully low… and yet the prices are not correspondingly low.
These salaries are a national embarrassment.