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Old 08-17-2013, 07:28 PM   #41
Swater330i
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Should I keep US citizenship?

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Originally Posted by dwass325 View Post
Uh...what? "Most" jobs over $70k "require some security clearances?" What planet are you on?

I know a ton of people making well over $70k and literally ONE of them has security clearance.
Every job I've worked in engineering and computer science all required baseline security clearances all over the country. Sure there are many jobs that don't but my statements were trying to get across that he should keep his citizenship to not put restrictions on how far he can go in this country without a damn good reason to renounce his citizenship. And if he's asking about it on a car forum it's a safe bet he doesn't have a good reason.


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Old 08-17-2013, 07:54 PM   #42
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You guys are all idiots. The people renouncing their citizenship are doing so because the US is the only developed country that taxes its citizens and permanent residents on income earned anywhere, even if they don't live in the US.

Let's say you go over to London to take a job. Any amount you make over 97,600 USD per year is taxed both at the local jurisdiction (if you live in the UK, you pay British taxes) and at the Federal level. For many people, their effective tax rate is well north of 60% if they happen to live overseas because of this issue. That's not to mention that everybody who works and lives overseas also has to report all of their assets and incomes, even if they don't make over 97.6k per year. It's a huge hassle and you're very likely to get audited. Couple that with the fact that many banks who do business in the US have started to terminate the accounts of Americans (because of the costs it takes to bring those accounts into compliance with Federal tax law), and you have many Americans living overseas who are getting shafted by the IRS.

One of the reasons that US corporations don't like sending employees overseas is because of all the additional tax burdens that overseas Americans generate. Instead, they'll just hire locals for all but the most important positions.
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Old 08-17-2013, 09:51 PM   #43
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no, go away
^^^^this^^^^
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Old 08-17-2013, 10:04 PM   #44
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If you go back to India....for the love of God... or Allah, or Buddah or whatever they follow over there - PLEASE don't tell me your ****ing name is ****ing "Robert", or "Sam" when my piece of **** Dell Computer breaks again.
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Old 08-17-2013, 10:38 PM   #45
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Re: Should I keep US citizenship?

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A good friend of mine won the lottery in Romania which gave him the opportunity to become a US citizen. His family has since spent about 50k to become citizens. If you're living here and you don't want to be an American, just stay here because you'll be an American eventually. For free.
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Old 08-17-2013, 10:54 PM   #46
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Should I keep US citizenship?

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If you go back to India....for the love of God... or Allah, or Buddah or whatever they follow over there - PLEASE don't tell me your ****ing name is ****ing "Robert", or "Sam" when my piece of **** Dell Computer breaks again.
You will probably find a customer service rep in India if you call during our morning or our evening time. Our afternoon=1-2-3 AM and even ifs call center rep is awake, he probably won't be in the office waiting for your call. Alot of the time I find call center reps in USA. What companies do you call?

Plus, I'm more of a biology guy. I don't want to go into IT like my parents
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Old 08-17-2013, 11:09 PM   #47
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This little **** brick is Indian? Wow, I understand why you're so annoying.
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Old 08-17-2013, 11:41 PM   #48
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No, go away
What he said.
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Old 08-17-2013, 11:55 PM   #49
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Old 08-18-2013, 12:00 AM   #50
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I didn't get indian vibe from awesomechinz, but I certainly got the lack of maturity and intelligence vibe. Being under 18, it's much more understandable, and means there is hope for him.
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Old 08-18-2013, 12:25 AM   #51
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US is the best country in the world. Seize the opportunity and don't think back.
Please...

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Old 08-18-2013, 12:26 AM   #52
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You guys are all idiots. The people renouncing their citizenship are doing so because the US is the only developed country that taxes its citizens and permanent residents on income earned anywhere, even if they don't live in the US.

Let's say you go over to London to take a job. Any amount you make over 97,600 USD per year is taxed both at the local jurisdiction (if you live in the UK, you pay British taxes) and at the Federal level. For many people, their effective tax rate is well north of 60% if they happen to live overseas because of this issue. That's not to mention that everybody who works and lives overseas also has to report all of their assets and incomes, even if they don't make over 97.6k per year. It's a huge hassle and you're very likely to get audited. Couple that with the fact that many banks who do business in the US have started to terminate the accounts of Americans (because of the costs it takes to bring those accounts into compliance with Federal tax law), and you have many Americans living overseas who are getting shafted by the IRS.

One of the reasons that US corporations don't like sending employees overseas is because of all the additional tax burdens that overseas Americans generate. Instead, they'll just hire locals for all but the most important positions.
exactly, lol. I was smh reading the ignorance from all these 'murica hillbillies that are too stupid to understand the subtleties of international tax law.

for the expatriation to actually make sense, most of these individuals have foreign assets over $4 million. For that joe schmoe in zurich who couldn't get a mortgage at his swiss bank, just go with another bank, ffs...if you're in the middle to middle-upper income bracket, (without all the facts, of course) I would generally assume that the benefits of US citizenship outweigh the costs. depends on priorities, of course...if you're travelling to places where you need the extra protection afforded to US citizens, then that's pretty awesome (Africa, Middle East, etc.). US citizenship gives you top salary brackets at foreign companies, generally speaking.
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Old 08-18-2013, 12:59 AM   #53
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Old 08-18-2013, 07:07 AM   #54
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Originally Posted by rapier7 View Post
You guys are all idiots. The people renouncing their citizenship are doing so because the US is the only developed country that taxes its citizens and permanent residents on income earned anywhere, even if they don't live in the US.

Let's say you go over to London to take a job. Any amount you make over 97,600 USD per year is taxed both at the local jurisdiction (if you live in the UK, you pay British taxes) and at the Federal level. For many people, their effective tax rate is well north of 60% if they happen to live overseas because of this issue. That's not to mention that everybody who works and lives overseas also has to report all of their assets and incomes, even if they don't make over 97.6k per year. It's a huge hassle and you're very likely to get audited. Couple that with the fact that many banks who do business in the US have started to terminate the accounts of Americans (because of the costs it takes to bring those accounts into compliance with Federal tax law), and you have many Americans living overseas who are getting shafted by the IRS.

One of the reasons that US corporations don't like sending employees overseas is because of all the additional tax burdens that overseas Americans generate. Instead, they'll just hire locals for all but the most important positions.
We did this with our China plant when starting up. Was getting extremely expensive sending our engineers and managers over there for long stints at a time. However, there was no one in China who was qualified enough to just hit the ground running. Every being the company brought in had to be trained, both here at our US plants and in their respective China plant.
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Old 08-18-2013, 07:10 AM   #55
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Have you guys seen this? Thanks Obama and company.

U.S. expatriates renounce citizenships at record rate

HONG KONG, Aug. 12 (UPI) -- A record number of people have renounced their U.S. citizenship, an Internal Revenue Service list indicates, a result of a global crackdown on tax evaders.

More U.S. citizens have renounced their citizenship in the first and second quarters of 2013 than in all of 2012. A total of 1,130 names appear on the IRS' second-quarter list, beating the previous record of 679 set in the first quarter, The Wall Street Journal reported Monday.

While those numbers are a fraction of the estimated 6 million American citizens living outside the country, the impetus for renunciation is the Foreign Account Tax Compliance Act, or FACTA, which requires foreign institutions to disclose overseas assets, of U.S. citizens and green-card holders, to the U.S. government.

FACTA's objective is to identify those who may be evading taxes through offshore investment vehicles. Its effects are being most keenly felt in Asia, the newspaper said.

Some U.S. citizens seek citizenship in Hong Kong, where the individual tax rate is capped at 15 percent, but the motivation for others is the growing paperwork required of U.S. citizens living abroad.

"My decision was less about the actual amount of taxes I had to pay, and more about the system," said an anonymous former U.S. citizen. "I'm not an ultra-wealthy dude. It was the hassle with all the paperwork."

Jay Krause of the Withers law firm said his lawyers in Singapore and Hong Kong serve U.S. citizens and green-card holders who have not been on American soil in years. After filing taxes, many deem the tax liability to be too much after seeing their peers in Singapore and Hong Kong pay a far lower income tax, one not subject to capital gains taxes.

http://www.upi.com/Top_News/World-Ne...8891376342910/
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Old 08-18-2013, 07:23 AM   #56
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Do you know how many millions of people would trade everything they have to be a US citizen?

What a stupid question!

Summary: No, you should not since you obviously don't appreciate it.
Not me, I wouldn't want to move there. I wouldn't trade everything to become US citizen.
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Old 08-18-2013, 08:17 AM   #57
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Should I keep US citizenship?

I'm pretty sure we need a poll on who thought I wasn't Indian
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Old 08-18-2013, 08:23 AM   #58
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I'm pretty sure we need a poll on who thought I wasn't Indian
I figured you were some kind of Asian, just thought mabye Korean or Chinese.
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Old 08-18-2013, 07:12 PM   #59
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Re: Should I keep US citizenship?

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I'm pretty sure we need a poll on who thought I wasn't Indian
Still unsure if OP is Kal Penn or Adam Beach. Has not confirmed.

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Old 08-18-2013, 08:02 PM   #60
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