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To: Elroy Jetson who wrote (22111)	1/25/2005 6:14:47 AM
From: Amy J	Read Replies (1) \| Respond to of 116555

Elroy, I think what Templeton did was sleazy, but it's equally sleazy for Congress to pass a law that prohibits you from leaving the USA in a sincere fashion for another country with all your money in tact if you decide you need to live in country that is less debt-oriented, not easy with irresponsible bank loans at taxpayers expense, and more responsible with money. I assume even a sincere person would have to hire a lawyer to prove they didn't renounce their citizenship to avoid taxes? It's great they are going after sleazy tax avoiders, but it's sleazy if they force sincere people to waste money on lawyers just because they want to live in a country that's less debt prone. Somehow I don't think the IRS would appreciate the answer, "I absolutely cannot stand the way this country is irresponsible with money and how the govt leverages this country's future to the hilt." You know me well enough thru my posting to know how I absolutely cannot stand debt to the degree the USA govt engages in it and rewards irresponsibility. Mind you, we have a Republican President too. Such irresponsibility doesn't settle well with me. Enough to actually go thru the financials of other countries and shop around for a citizenship elsewhere for a later time if the govt's debt level increases beyond my comfort level, as you know from my PM. I believe democracies are at risk of eventually bankrupting themselves because the system only allows those politicians that spend on everything to stay in power. Frugal congresspeople don't make it in the system for long. The system is fundamentally flawed so it ejects frugal congresspeople. And with so many boomers retiring, do I want to be left holding the bag in this country, just because easy Al likes debt while congresspeople put their personal careers ahead of what's good for this country's future due to flawed system and a president that doesn't know what the veto line is? There are virtually no people in congress that are not younger than the boomers (there might be one.) My age group is not represented in Congress. The USA is a great place to work, but if you're anyone that's younger than a boomer, why would we want to be left holding the congressional boomers costly debt bag they racked up due to a flawed system that gives them no other choice? Voters will eventually bankrupt themselves. I refuse to be held hostage to a bankrupt country that's sinking in debt and grasping to steal money on the way out due to irresponsibility. Tax me now, and take it now while I live here, but not if I were to depart in the way future. But it sounds like this applies only to money earned in the USA, not earned in foreign countries. I do realize you have to declare foreign income when living in the USA, but according to your post, you only pay tax on money earned on USA money after leaving. Do States have this same law too? Regards, Amy J

To: Elroy Jetson who wrote (22111)	1/25/2005 1:28:59 PM
From: Jim McMannis	Read Replies (2) \| Respond to of 116555

Amy,Elroy, RE:"Kenneth Dart, president of Dart containers Corp.;" Bingo, this guy and his move to Belize was the poster child of the last law change. I recall it came under Clintons' Congress. usvisanews.com "A tax law was passed in 1996 that said anyone who gives up their citizenship and is worth $500,000 or more, must be doing it to dodge taxes. This law, granted by Congress, gave the INS the power to label someone as a "tax dodger" and banish them from the US. Also, the IRS became intollerable of people who banish their US citizenship and show no mercy to anyone who does it by taxing them on all earnings for 10 years after they give up citizenship." I'm surprised you didn't know this.