Quote:
Originally Posted by Anteater
I'm sure the U.S. government would love to do that if they could wrap their heads around a better means. 
For instance, you can give up your citizenship for just a few thousand dollars. However, there are supposedly large numbers of wealthy expats who give up their citizenship in the U.S. every year in order to start businesses oveseas. Why not replace the estate tax with something that targets those people instead as they "leave", AKA a better exit tax than what we have now? That would bring in way more revenue on an annual basis and it is nearly impossible to dodge. |
5,411 people gave up US citizenship in 2016. An all time record number.
https://www.forbes.com/sites/robertw.../#8000937503d6
The US population as of 2015 was calculated as 321.4 million. You want me to do the math for you? Raising the exit tax on 5,000 people isn't going to do squat for the economy. By comparison, raising the estate tax would affect millions of people.
PS: 5,411 represents 0.0017% of the population. Swing and a miss buddy.