Introduction and context:
In October of 2024, Candidate Donald Trump pledged to end the double taxation of Americans abroad. In the
Appendix* to this post I have included three videos discussing this pledge.
I have created a specific X.com community for the purpose of discussing President Trump’s pledge to end the double taxation of Americans abroad. You are invited to join that community here:
https://x.com/i/communities/1857659137892692026
Thinking about “Ending Double Taxation”
The pledge to #enddoubletaxation requires definition. What does it mean? Does it represent severing citizenship from tax residency? Does it represent a move to “territorial taxation”? What does it mean?
In this context I have been creating a series of “Principles” that should be discussed to define, refine and articulate the goal of “ending the double taxation of Americans abroad”.
To date (see below)I have identified a number of principles which have been explored on X.com. I would like to supplement each of the principles by a live discussion on X.com Spaces. What follows are the principles. I will add the dates in the next few days. Please circulate this post widely. It represents an opportunity for those in the X.com community to contribute to the discussions (which will be recorded).
Principle 1 –
Principle 1 – understanding what the #endingdoubletaxation of #Americansabroad means:
1. US Source income is and will always be taxable to the recipient regardless of citizenship or residence.
Therefore, the issue under discussion is what ending @doubletaxation means in…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 15, 2024
https://threadreaderapp.com/thread/1857319808599302349.html
Principle 2 –
Principle 2 – understanding what the #endingdoubletaxation of #Americansabroad means:
Q. Why would non-resident U.S. citizens (AKA #Americansabroad) be subject to @doubletaxation by the U.S. and their country of residence?
A. Because due to US @citizenshiptax they have…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 15, 2024
https://threadreaderapp.com/thread/1857345950991425786.html
Principle 3 –
Principle 3 – understanding what the #endingdoubletaxation of #Americansabroad means:
Because @doubletaxation of #Americansabroad is caused by US @citizenshiptax it is clear that ending the #doubletaxation of @USCitizenAbroad can be ended by ending #CBT – AKA separation…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 15, 2024
https://threadreaderapp.com/thread/1857361253154619616.html
Principle 4 –
Principle 4 – understanding what the #endingdoubletaxation of #Americansabroad means:
Let's summarize "some" of the costs of the US @citizenshiptax regime to BOTH @USCitizenaboad and the countries where they live.
First, Costs of US @CitizenshipTax to #Americansabroad
-…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 15, 2024
https://threadreaderapp.com/thread/1857368952479031709.html
Principle 5 –
Principle 5 – understanding what the #endingdoubletaxation of #Americansabroad means:
Starting in "Principle 1" I explained that the problem of the #doubletaxation of #Americansabroad exists in relation to non-US income sources received by individuals who do NOT live in the USA…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 15, 2024
https://threadreaderapp.com/thread/1857564799414247564.html
Principle 6 –
Principle 6 – understanding what the #endingdoubletaxation of #Americansabroad means:
The biggest obstacle to change to the US @citizenshiptax extra-territorial tax regime is NOT Congress or Treasury
The biggest obstacle to change is (amazingly) #Americansabroad as a group.…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 16, 2024
https://threadreaderapp.com/thread/1857718205197988056.html
Principle 7 –
Principle 7 – understanding what the #endingdoubletaxation of #Americansabroad means:
It's critical to understand how US @citizenshiptax makes it harder and more expensive for U.S. companies to hire U.S. citizen employee/managers/executives. Nobody understands this better than…
— John Richardson – Counsellor for US persons abroad (@ExpatriationLaw) November 29, 2024
https://threadreaderapp.com/thread/1862599493797257478.html
Appendix* – IRS Medic Videos Discussing The Trump Pledge To End The Double Taxation Of Americans Abroad
October 18, 2024 – Solomon Yue
October 16, 2024 – Jim Gosart
October 2024 – Donald Trump’s Pledge To End Double Taxation
October 2024 – The Impact Of Trump’s Victory On U.S. Expats