Trump Vows to End Double Taxation for Overseas Americans

[Swordsmyth]

Former President Donald Trump said he would put an end to double taxation on U.S. citizens who live outside the country, if elected in November, with the promise marking the Republican presidential nominee’s latest campaign pledge to lower taxes on Americans.

U.S. law requires Americans to file tax returns every year, even if they live and work abroad. It also requires them to potentially pay taxes to the IRS on their worldwide income in addition to any taxes they may have to pay in their country of residence, which is known as double taxation.

While there are accommodations such as the Foreign Earned Income Exclusion (FEIE) and the Foreign Tax Credit (FTC) to mitigate double taxation, such arrangements reduce U.S. tax liability but may not eliminate it.

Trump is now promising to eliminate the complexity of navigating U.S. tax obligations abroad by putting an end to double taxation for Americans overseas “once and for all,” he said in an Oct. 10 video statement.

“You’ve been wanting this for years, and nobody has listened to you, and you deserve it, and I’m going to do it,” Trump said. “It’s the right thing to do, and no American leader has ever been willing to stand up and commit to you the way that I have on many things, but this is a very important element for your safety, security, and, frankly, for your wallet.”

More at: https://www.theepochtimes.com/us/trump-vows-to-end-double-taxation-for-overseas-americans-5739885

 

[acptulsa]

Gee, what a tremendous relief this will be for all working class Americans.

 

[TheCount]

He's telling them exactly how he's going to fuck them over and they'll applaud him for it.

 

[TheTexan]

Gee, what a tremendous relief this will be for all working class Americans.

For those few Americans who work and/or live overseas, or desire to, this is absolutely huge. It opens up the possibility to work in Dubai for example and pay virtually no taxes, which is not possible today as an American.

And while you may say, accurately, that this doesn't help 99.9% of the rest of Americans, I think it just means that Trump deserves even more credit for pushing this forward. Never in my life would I have thought this policy may be reversed, for the exact reason that only 0.1% of Americans even care about it. Who's gonna protect the interests of the 0.1% minority? Trump, apparently.

So yea, this is actually huge and if he manages to follow through on this promise (an equally huge IF), it will make his entire Presidency worth it.

 

[unknown]

Bizarre fringe BS.

How about slashing IRS funding by half.

To start.

 

[TheTexan]

Bizarre fringe BS.

How about slashing IRS funding by half.

To start.

What's bizarre is the American policy of taxing its citizens overseas. Only 1 other country does that.. Eritrea

I'm glad Trump actually cares about my freedom, since apparently u don't

 

[unknown]

And this half-a-fruit Vance, with his child tax credit BS.

That's all the "Right" can offer, some tinkering around the edges.

Work in a meaningful way to get rid of these Gestapo type thugs.

Or atleast severely limit or cripple them.

 

[PAF]

This should be the default of any/all true conservatives.

I'll take it. But I'm certainly not going to vote for him and his little bones in exchange for his other idiotic "bait and switch" agendas. This is how they Pied-Piper people into giving consent to all of the other harmful policies that they want to implement.

 

[jmdrake]

For those few Americans who work and/or live overseas, or desire to, this is absolutely huge. It opens up the possibility to work in Dubai for example and pay virtually no taxes, which is not possible today as an American.

And while you may say, accurately, that this doesn't help 99.9% of the rest of Americans, I think it just means that Trump deserves even more credit for pushing this forward. Never in my life would I have thought this policy may be reversed, for the exact reason that only 0.1% of Americans even care about it. Who's gonna protect the interests of the 0.1% minority? Trump, apparently.

So yea, this is actually huge and if he manages to follow through on this promise (an equally huge IF), it will make his entire Presidency worth it.

Passport bros for Trump?




Another reason why some black men are going for Trump or at least sitting this election out.

 

[TheCount]

This should be the default of any/all true conservatives.

Hard disagree, and I'm more than willing to explain.

I'll take it. But I'm certainly not going to vote for him and his little bones in exchange for his other idiotic "bait and switch" agendas. This is how they Pied-Piper people into giving consent to all of the other harmful policies that they want to implement.

This is part of the bait and switch.

The actual purpose is to construct another massive loophole in the tax code for the wealthy and well-connected, while simultaneously he works to increase rates on the taxes that average people pay.

And Trumpkins will line up to thank him for fucking them over.

 

[Swordsmyth]

Gee, what a tremendous relief this will be for all working class Americans.

He has plenty of plans to help Americans at home with lower taxes too.

Your attempt to criticize this is funny.

 

[jmdrake]

Hard disagree, and I'm more than willing to explain.




This is part of the bait and switch.

The actual purpose is to construct another massive loophole in the tax code for the wealthy and well-connected, while simultaneously he works to increase rates on the taxes that average people pay.

And Trumpkins will line up to thank him for $#@!ing them over.

I take it you've never heard of the "passport bros" movement? These men aren't wealthy, but their 70K a year remote IT job goes a long way in the Phillipines.

 

[TheCount]

I take it you've never heard of the "passport bros" movement? These men aren't wealthy, but their 70K a year remote IT job goes a long way in the Phillipines.

What does that have to do with what Trump is actually doing and why he's doing it?

 

[sparebulb]

Sweet!

Another stimulus for dual-passported Izraelis courtesy of we the people.

Keep knobing that Yiddish schlong, Donald.

 

[TheTexan]

Sweet!

Another stimulus for dual-passported Izraelis courtesy of we the people.

Keep knobing that Yiddish schlong, Donald.

Trump spends money. RPF: Trump is bad!

Trump vows to end a tax. RPF: Trump is bad!

 

[sparebulb]

Trump spends money. RPF: Trump is bad!

Trump vows to end a tax. RPF: Trump is bad!

Win-Win!

Actually, Win-Win-Win, including Izraelis, the bestest of 'murikans!

I'm back on the Trump Train!

 

[TheTexan]

Win-Win!

Actually, Win-Win-Win, including Izraelis, the bestest of 'murikans!

I'm back on the Trump Train!

There ya go! Vote hard

 

[oyarde]

What's bizarre is the American policy of taxing its citizens overseas. Only 1 other country does that.. Eritrea

I'm glad Trump actually cares about my freedom, since apparently u don't

I find it amusing people would actually send it in. Really ? Im sure Id forget

 

[TheTexan]

I find it amusing people would actually send it in. Really ? Im sure Id forget

Could get away with that in years past. In today's integrated banking system? Fat chance.

 

[jmdrake]

What does that have to do with what Trump is actually doing and why he's doing it?

There are Americans who aren't rich who are making a better life for themselves overseas.