Originally posted by Rockpuck
reply to post by longjohnbritches
The USA treats expats like criminals. If he stayed in Singapore he'd have to pay double taxes (American and Singapore) even though he doesn't live
nor plan on living in the USA. If down the road he decides to stay in Singapore the USA would then leverage a massive "exit" tax on him, taxing ALL
assets as if he "sold" them.
There has been a dramatic increase in American renouncing their citizenship..
Singapore is like the Monaco of Asia. It's a former British colony, now city-state, clean & beautifully maintained -- very unlike most Asian cities
(except those in Japan). Low crime rate.
Singapore has very strict immigration standards (like Switzerland) -- they don't let just anyone in.
I read that a number of rich Americans fled right after Obama was elected. They recognized Obama as a socialist. It's not surprising that even more
are fleeing since Obama has been beating the "Raise Taxes on the Rich" drum.
After countless examples, the socialists & communists refuse to face that their economic policies drive wealth out of a nation and ensure that all the
citizens will be EQUALLY poor -- except the party bosses.
Like austerity measures apply to Obama and his cronies. They will maintain a lavish lifestyle on the taxpayer's dime.