Sen. Finance Committee Chairman Ron Wyden (D-Ore.) Smears Dual Citizens As Tax Cheats

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So imagine you are born in say Argentina. You then become a US person. Well according to Sen Wyden, you are the problem.

He writes

"Dual citizenship affords unique opportunities for cross-border tax evasion. A trend in the concealment of offshore bank accounts involves bankers hiding accounts for ultra-high net worth U.S. citizens who have dual citizenship by coding bank accounts using only their non-U.S. passport and foreign residences."

Of course, what Sen Wyden leaves out if the US is the only country in the planet who taxes people no matter where in the world they are. That is, the US income tax system demands any US person to report and pay taxes on any income they make anywhere in the universe. And that it might escape the imagination of someone born in the US that the US is the worlds most aggressive tax machine and demands taxes be paid where other countries wouldn't dare

So perhaps is is the US tax system is the cheat?

Joining this discussion with Anthony E. Parent, is John Richardson of citizenshipsolutions.ca and Keith Redmond - Global Advocate for the American Abroad.

Видео Sen. Finance Committee Chairman Ron Wyden (D-Ore.) Smears Dual Citizens As Tax Cheats канала IRSMedic