▲ 226 ▼ The American dream is over: Why some first-generation Gen Zers are moving abroad (www.nbcnews.com) submitted 2 years ago by return2ozma@lemmy.world to c/news@lemmy.world 106 comments fedilink hide all child comments
[–] DefiantBidet@lemmy.world 34 points 2 years ago (3 children) Wait till they find out which 2 countries tax expats (Russia and US).... Leaving is still gonna cost ya. permalink fedilink source hideshow 6 child comments replies: [–] AnarchoSnowPlow@midwest.social 21 points 2 years ago (2 children) Doesn't it cost to renounce your citizenship too? permalink fedilink source parent hideshow 4 child comments replies: [–] xmunk@sh.itjust.works 23 points 2 years ago Yup, a boatload of money if you want to do it the official and proper way. permalink fedilink source parent [+] parpol@programming.dev 10 points 2 years ago (2 children) [deleted] permalink fedilink source parent hideshow 4 child comments replies: [–] AI_toothbrush@lemmy.zip 5 points 2 years ago Pretty shity rule tbh. Spain also does it and i want to move there but still keep my other two citizenships but with the current system i couldnt. permalink fedilink source parent [–] Potatisen@lemmy.world 3 points 2 years ago (1 child) Lol, you're not getting a Japanese passport. permalink fedilink source parent hideshow 2 child comments replies: [+] parpol@programming.dev 13 points 2 years ago (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent [–] ShinkanTrain@lemmy.ml 7 points 2 years ago (1 child) What are they gonna do, send a debt collector to the consulate? permalink fedilink source parent hideshow 2 child comments replies: [–] Cyteseer@lemmy.world 12 points 2 years ago It's moreso, unless that tax debt is paid, you're never coming back to the US. Of course, some will say they never will. permalink fedilink source parent [–] iknowitwheniseeit@lemmynsfw.com 5 points 2 years ago (1 child) Maybe not. It depends. First, there is a long list of countries where you can deduct a lot of money from your salary if you pay tax in the other country. I think it's like $90 thousand dollars now? So if you make less than that you don't pay US taxes on top of your taxes where you are living. Second, for basically the same list of countries you can deduct your taxes paid there from your US taxes. The upshot is this only impacts countries the US empire doesn't deem worthy (I don't know which, sorry), or people who make a lot of money in low tax countries. I am told that both Switzerland and Japan fit that description. So if you make $150k in Saudi Arabia then you'll end up paying US tax on most of that I think. 😄 The US system of taxing their citizens abroad is unfair, but people living abroad vote in the last place they lived in the US, so they don't have enough concentration of votes to matter. No politician is going to care if 0.02% of their constituents whine about unfair taxes when they have doners at home to appease. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 1 point 2 years ago Aitn first 100k exampt? permalink fedilink source parent
[–] AnarchoSnowPlow@midwest.social 21 points 2 years ago (2 children) Doesn't it cost to renounce your citizenship too? permalink fedilink source parent hideshow 4 child comments replies: [–] xmunk@sh.itjust.works 23 points 2 years ago Yup, a boatload of money if you want to do it the official and proper way. permalink fedilink source parent [+] parpol@programming.dev 10 points 2 years ago (2 children) [deleted] permalink fedilink source parent hideshow 4 child comments replies: [–] AI_toothbrush@lemmy.zip 5 points 2 years ago Pretty shity rule tbh. Spain also does it and i want to move there but still keep my other two citizenships but with the current system i couldnt. permalink fedilink source parent [–] Potatisen@lemmy.world 3 points 2 years ago (1 child) Lol, you're not getting a Japanese passport. permalink fedilink source parent hideshow 2 child comments replies: [+] parpol@programming.dev 13 points 2 years ago (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] xmunk@sh.itjust.works 23 points 2 years ago Yup, a boatload of money if you want to do it the official and proper way. permalink fedilink source parent
[+] parpol@programming.dev 10 points 2 years ago (2 children) [deleted] permalink fedilink source parent hideshow 4 child comments replies: [–] AI_toothbrush@lemmy.zip 5 points 2 years ago Pretty shity rule tbh. Spain also does it and i want to move there but still keep my other two citizenships but with the current system i couldnt. permalink fedilink source parent [–] Potatisen@lemmy.world 3 points 2 years ago (1 child) Lol, you're not getting a Japanese passport. permalink fedilink source parent hideshow 2 child comments replies: [+] parpol@programming.dev 13 points 2 years ago (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] AI_toothbrush@lemmy.zip 5 points 2 years ago Pretty shity rule tbh. Spain also does it and i want to move there but still keep my other two citizenships but with the current system i couldnt. permalink fedilink source parent
[–] Potatisen@lemmy.world 3 points 2 years ago (1 child) Lol, you're not getting a Japanese passport. permalink fedilink source parent hideshow 2 child comments replies: [+] parpol@programming.dev 13 points 2 years ago (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[+] parpol@programming.dev 13 points 2 years ago (1 child) [deleted] permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] Potatisen@lemmy.world 12 points 2 years ago (1 child) Well shit! Look at me with cake all over my face. Are you a citizen tho? permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] sunzu@kbin.run 2 points 2 years ago (1 child) I think you got your answer lol permalink fedilink source parent hideshow 2 child comments replies: [–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] Potatisen@lemmy.world 2 points 2 years ago (1 child) Not at all, I lived in Japan for many years but never as a neutralized citizen. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] sunzu@kbin.run 3 points 2 years ago I don't think that person got citizenship either permalink fedilink source parent
[–] ShinkanTrain@lemmy.ml 7 points 2 years ago (1 child) What are they gonna do, send a debt collector to the consulate? permalink fedilink source parent hideshow 2 child comments replies: [–] Cyteseer@lemmy.world 12 points 2 years ago It's moreso, unless that tax debt is paid, you're never coming back to the US. Of course, some will say they never will. permalink fedilink source parent
[–] Cyteseer@lemmy.world 12 points 2 years ago It's moreso, unless that tax debt is paid, you're never coming back to the US. Of course, some will say they never will. permalink fedilink source parent
[–] iknowitwheniseeit@lemmynsfw.com 5 points 2 years ago (1 child) Maybe not. It depends. First, there is a long list of countries where you can deduct a lot of money from your salary if you pay tax in the other country. I think it's like $90 thousand dollars now? So if you make less than that you don't pay US taxes on top of your taxes where you are living. Second, for basically the same list of countries you can deduct your taxes paid there from your US taxes. The upshot is this only impacts countries the US empire doesn't deem worthy (I don't know which, sorry), or people who make a lot of money in low tax countries. I am told that both Switzerland and Japan fit that description. So if you make $150k in Saudi Arabia then you'll end up paying US tax on most of that I think. 😄 The US system of taxing their citizens abroad is unfair, but people living abroad vote in the last place they lived in the US, so they don't have enough concentration of votes to matter. No politician is going to care if 0.02% of their constituents whine about unfair taxes when they have doners at home to appease. permalink fedilink source parent hideshow 2 child comments replies: [–] sunzu@kbin.run 1 point 2 years ago Aitn first 100k exampt? permalink fedilink source parent