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Discussion in 'News / Current Events' started by mandym, May 11, 2012.
Read more: http://www.foxnews.com/scitech/2012...unces-citizenship-ahead-of-ipo/#ixzz1ubTZs4n9
My understanding is that America is the second in a dual citizenship status for him, and he lives in another country.
If I were him, I would do the same thing.
Me, too. Especially when he keeps hearing about raising taxes on the rich....blah, blah, blah.
He will still be able to buy congress through his company.
IIRC, he's Brazilian by birth and naturalized American. The crux of the problem is under US tax laws, a US citizen's income tax is levied on his total world income no matter his\her place of residency or place of income. IOW, I'm working for a firm in a foreign country and have been for the last ten years. I'm not paid in the local currency not US dollars. I pay all of the required taxes of my place of residency. The US Tax Code still requires me to file a 1040, even though not one red sou\pence\kopek\pfennig\ect. was earned on US soil.