US CITIZENS ONE STEP CLOSER TO BECOMING PERMANENT TAX SLAVES

I highly recommend you subscribe to Simon Black’s Newsletter.  It is smart, timely and I find it invaluable.  I received this in my inbox this a.m.

May 22, 2012
Los Angeles, USA

This week, the universally stupid brainchild of US Senators Chuck Schumer and Bob Casey known as the Ex-PATRIOT Act inched a bit closer towards becoming law.

‘Ex-PATRIOT’ is an absurd acronym that stands for “Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy”. I call it the Tax Slave Act… and it proposes three key provisions:

  • 1) Individuals who are deemed, in the sole discretion of the US government, to have renounced US citizenship in order to avoid US taxes, will be permanently barred from re-entering the United States.
  • 2) Such individuals will also be required to pay a 30% capital gains tax to the United States government on ALL future investment gains derived from the US. Currently, non-citizens who do not reside in the US pay no US capital gains tax.
  • 3) These proposals are RETROACTIVE, and, if passed, would apply to anyone who renounced his/her citizenship within the last 10-years.

During a Sunday interview with ABC News, House Speaker John Boehner threw his support behind the bill…

Read the rest of this arty HERE at Sovereign Man

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