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  #61  
Old 26.09.2012, 23:00
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Re: US Greencard - giveup or not

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Well, that's good news. Can't see that it would do anything to increase US taxe revenue particularly, but that doesn't seem to occur to the people who make the laws in the first place.
Really you can't see that it would increase US tax revenue? This would be an absolute disaster for every American/ Green card holder in Switzerland and other low tax countries because those not paying taxes currently would have to pay and those paying some would have to pay more (in the thousands not the hundreds). Its an absolute increase in tax revenue for the government at the expense of us.

The Bullshit US taxes would just become even smellier.

The funny part is I think it would actually simplify the returns. No need to worry about the bona fide residency test or physical presence tests anymore. You would be indashit which ever way you looked at it.

It would have to force some renunciations.
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  #62  
Old 27.09.2012, 00:14
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Re: US Greencard - giveup or not

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Really you can't see that it would increase US tax revenue? This would be an absolute disaster for every American/ Green card holder in Switzerland and other low tax countries because those not paying taxes currently would have to pay and those paying some would have to pay more (in the thousands not the hundreds). Its an absolute increase in tax revenue for the government at the expense of us.

The Bullshit US taxes would just become even smellier.

The funny part is I think it would actually simplify the returns. No need to worry about the bona fide residency test or physical presence tests anymore. You would be indashit which ever way you looked at it.

It would have to force some renunciations.
I think she means that there are not sooooo many Americans living abroad that it would add up to much as far as the government is concerned, regardless of how sharp a pinch it is for those forced to pay (more).
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  #63  
Old 27.09.2012, 01:41
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Re: US Greencard - giveup or not

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My Favourite was "name a country beginning with U....what about this one, the United States of America"?
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  #64  
Old 27.09.2012, 04:22
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Re: US Greencard - give up or not

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The question is basically - where would you live and work - US or Switzerland.

I have been living in Switzerland (Zurich & Geneva) for 12 years and really consider it my second home (it is actually time to apply for a passport). About 4 years ago I have also won a Greencard via diversity lottery and until now maintained it by coming from time to time to the US, applying for "travel documents" and filing taxes. I was tempted to move at one point to South CA. Now maintaining GC becomes a real pain taxwise and I just almost at the point to give it up. What would you do? Any suggestions are very much appreciated.
It really depends on each one's personal plans in terms of what would you do. But you've done well to 'maintain' it for so long. It is indeed a lot of paperwork.
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  #65  
Old 27.09.2012, 09:11
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Re: US Greencard - giveup or not

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I think she means that there are not sooooo many Americans living abroad that it would add up to much as far as the government is concerned, regardless of how sharp a pinch it is for those forced to pay (more).
Yes, that's true and I was thinking of what the following paragraph in the article points out:

Actually, this particular paragraph in H.R.2495 could hardly be expected to increase tax revenue by the promised amount of 5.4billion dollars as US taxpayers living abroad would start using various tax credits such as foreign taxes paid in an effort to reduce their US tax bill. Filing US tax forms will become even more complicated for Americans abroad and tax revenue will not increase.

There would some some increase in tax revenue, which is the whole point, but not as much as predicted.

It would also have further increased the number of renunciations already taking place I believe, if the measure had been passed. The embassy here is already doing 4 renunciations a day, which means nearly a 1,000 people a year could be renouncing in Switzerland alone. I know it's not an option for everyone with US citizenship, but since the Federal Register's figure for renunciations worldwide last year is only 1,781 we're seeing a big increase already. Yes, I know that figure is wildly incorrect with names missing, duplicates and misspelled entries to start with, but even so the increase worldwide is something the government chooses to ignore whilst pursuing so called "tax evaders" with draconian measures.
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  #66  
Old 27.09.2012, 15:42
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Re: US Greencard - giveup or not

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Define "native", I've held a US passport since birth, have visited almost all 50 states, have lived (spent at least 5 consecutive months) in 8 states (both coasts, Midwest and South) and have even served in the US Armed Forces for a few years. I believe I understand the country and society pretty darn well (I would argue better than most "natives").
I have an English passport, yet I am not English..why? Because I was born and raised out in corn country. Sure, I lived in London for 8 years or so, can put on the right accent when it suits and such, but there are things I didn't get and can't reclaim by virtue of not having lived there in my formative years. It is what it is. It's the difference between being in possession of a passport and being a native.

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The romanticism and idealism of "being an American" gets shattered pretty quickly when you scratch the surface. You really want to understand the country? Join the US Armed Forces; its the perfect portrayal of American society, mixing its best and worst elements in one single location. I've learned more about the country and people there than anywhere else.

The "America being an Empire" point is always taboo; many people are still blinded by the country's exceptionalism and uniqueness to even consider the possibility that if something looks and acts like an elephant, it should probably be an elephant.
I'm not a romantic, rather a pragmatist which might be why I find RWE and Walt Whitman so interesting.

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And if the US is trying to corner the last remnants of cheap oil, it is doing an unbelievably lousy job. Invading Iraq and pressuring Iran during the past 10 years hasn't done much in bringing the price down (neither has debasing the US dollar due to poor fiscal and economic management, which forces other countries to also debase, making oil more expensive for everyone).

If anything, I think 100 German Marks (if it ever returns) will probably go much further than 100 US Dollars.
Who said anything about making oil cheaper? Just making certain access and favor continue. If you get a chance, see the movie "Elite Killers" which is based on a true story along these lines.

The US looks out for #1, itself, much the same as all the EU countries do. And if I had to pick a place to live in the long term that was going to come out on top even with all the climate uncertainty, etc....it wouldn't be Switzerland.
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Old 27.09.2012, 16:07
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Re: US Greencard - give up or not

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The question is basically - where would you live and work - US or Switzerland.

I have been living in Switzerland (Zurich & Geneva) for 12 years and really consider it my second home (it is actually time to apply for a passport). About 4 years ago I have also won a Greencard via diversity lottery and until now maintained it by coming from time to time to the US, applying for "travel documents" and filing taxes. I was tempted to move at one point to South CA. Now maintaining GC becomes a real pain taxwise and I just almost at the point to give it up. What would you do? Any suggestions are very much appreciated.

The question is, where are you the happiest? And then go for it......

Personally, I think its a flippin cheek that the US demand taxes from individuals that have chosen to leave and live in other countries, where is the freedom in that!??
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  #68  
Old 27.09.2012, 16:48
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Re: US Greencard - giveup or not

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There are a lot of reasons other than "being poor" to not pay income taxes, one of them being a full-time student or being a pensioner WHO RESIDES IN THE US.
FTFY.

Swiss pension payments for retires are unearned income, and thus NOT exempt from the USD 92k exclusion!

Tom
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  #69  
Old 27.09.2012, 16:59
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Re: US Greencard - give up or not

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The question is, where are you the happiest? And then go for it......

Personally, I think its a flippin cheek that the US demand taxes from individuals that have chosen to leave and live in other countries, where is the freedom in that!??
This goes under the therm "Brave"
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Old 27.09.2012, 18:42
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Re: US Greencard - giveup or not

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I have an English passport, yet I am not English..why? Because I was born and raised out in corn country. Sure, I lived in London for 8 years or so, can put on the right accent when it suits and such, but there are things I didn't get and can't reclaim by virtue of not having lived there in my formative years. It is what it is. It's the difference between being in possession of a passport and being a native.
....it wouldn't be Switzerland.
interesting comment really. So how do you define formative years in terms of age ? Each person/country has a kinda different view at least somewhat. What is corn country ?
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Old 27.09.2012, 20:07
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Re: US Greencard - giveup or not

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I have an English passport, yet I am not English..why? Because I was born and raised out in corn country. Sure, I lived in London for 8 years or so, can put on the right accent when it suits and such, but there are things I didn't get and can't reclaim by virtue of not having lived there in my formative years. It is what it is. It's the difference between being in possession of a passport and being a native.



I'm not a romantic, rather a pragmatist which might be why I find RWE and Walt Whitman so interesting.



Who said anything about making oil cheaper? Just making certain access and favor continue. If you get a chance, see the movie "Elite Killers" which is based on a true story along these lines.

The US looks out for #1, itself, much the same as all the EU countries do. And if I had to pick a place to live in the long term that was going to come out on top even with all the climate uncertainty, etc....it wouldn't be Switzerland.
Oh, really...From what I heard in place of the words "In God We Trust" on US money it will soon be written "In China We Trust."
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Old 28.09.2012, 03:12
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Re: US Greencard - giveup or not

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Oh, really...From what I heard in place of the words "In God We Trust" on US money it will soon be written "In China We Trust."


That seems to be the wet dream of so many Europeans. Too bad it ain't gonna happen.
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  #73  
Old 30.09.2012, 00:05
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Re: US Greencard - give up or not

i think San Francisco alone worths to keep your greencard valid.

if only it wasnt over the ocean, i would prefer to live an work there..

but so far away from my home land, izmir.

also, there was some guy saying US causing oil prices high in USD,
the thing is USD prints dollars. it doesnt matter if it costs 500 USD a barrel as long as its priced with USD.

only USA in world, can manage this, because it has army all over the world.
its army making the dollar valuable, not the benjamin.

and benjamin printed green papers is best export of USA.

if you think USA s age will end, you should wait for a third world war. then maybe this may happen but not yet.
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  #74  
Old 30.09.2012, 04:07
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Re: US Greencard - giveup or not

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interesting comment really. So how do you define formative years in terms of age ? Each person/country has a kinda different view at least somewhat. What is corn country ?
In terms of personality and identity, formative years are between the ages of 6-12 (though could be extended somewhat to the early teens) which isn't based on any cultural or country standard, rather the age in which the brain is developing/absorbing the mother tongue and identity. Case in point, had you grown up in the US, you'd know precisely where corn country is.
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Old 30.09.2012, 04:14
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Re: US Greencard - giveup or not

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FTFY.

Swiss pension payments for retires are unearned income, and thus NOT exempt from the USD 92k exclusion!

Tom
I'm sure Romney wasn't thinking of US retirees in Switzerland when he was speaking of the 47% as I think many long-term expats in Switzerland would vote Republican...at least that's the impression I've gotten...and mostly he's talking about those who depend on the welfare of the government rather than those who pay into it.

I don't really know what to think of the current IRS taxation of expats....
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Old 30.09.2012, 05:12
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Re: US Greencard - give up or not

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also, there was some guy saying US causing oil prices high in USD,
the thing is USD prints dollars. it doesnt matter if it costs 500 USD a barrel as long as its priced with USD.

only USA in world, can manage this, because it has army all over the world.
its army making the dollar valuable, not the benjamin.

and benjamin printed green papers is best export of USA.

if you think USA s age will end, you should wait for a third world war. then maybe this may happen but not yet.
Actually it does matter; the more US dollars are printed, the higher the pressure for oil producers to raise the USD price as they want to ensure the purchasing power of their sale proceeds do not erode. In the end, your newly printed dollars buy less because others will demand you fork out more of your debasing currency. Abuse this game too much and don't be surprised if producers start demanding something else; the USD you print will have flat yields and who will want to hold on to them when your money printing leads to high inflation? This will even lead Americans to seek offshore exposure, is it no wonder that we have FATCA/FBAR?

And whether the army makes the US dollar valuable is highly questionable.
Currencies and empires do not necessarily evolve in parallel. The Roman Denarius outlived the empire for quite a long time despite having being almost completely debased of its silver content after the last Roman emperor was deposed in 476.
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Old 30.09.2012, 11:09
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That seems to be the wet dream of so many Europeans. Too bad it ain't gonna happen.
Keep dreaming my friend. China owns USA. In the time it takes you to finish reading this the the interest on US debt increased $200,000.00!!!
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