this post was submitted on 19 Jan 2024
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the_dunk_tank

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It's the dunk tank.

This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.

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[–] emizeko@hexbear.net 4 points 2 years ago* (last edited 2 years ago)

all your assets. not just the ones you take with you

The US Exit Tax, or Expatriation Tax, is levied on individuals renouncing their US citizenship or green card. Governed by IRC Section 877A, this tax is specifically designed for high-net-worth individuals. It ensures that their worldwide income and assets are taxed prior to exiting the US tax system.

EDIT: the statute is at https://www.law.cornell.edu/uscode/text/26/877A