Tag Archives: Gabriel Zucman

Professor @Gabriel_Zucman Discusses US Taxation Of Americans Abroad and FATCA

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On June 19, 2023 the Global Progressive Caucus of Democrats Abroad hosted Professor Gabriel Zucman to discuss “Fair Share Taxation And Tax Enforcement”. You may know that Professor Zucman is a strong advocate of wealth taxation. Senator Warren (in the specifics of her proposed wealth tax) appears to be a disciple of Professor Zucman’s views.

During the presentation Professor Zucman reinforced his view that “Fair Share Taxation” should include a wealth tax. Interestingly he recommends that FATCA be replaced by the CRS.

But, most interestingly he expressed his view that the current U.S. system of citizenship taxation (as it applies to most Americans living outside the United States) simply cannot be justified. Based on this video, I would say that Professor Zucman may be an ally in the fight to reform the taxation of Americans abroad.

I have put together a short twitter thread to highlight his main points. But, I do recommend that people watch the entire video. The discussion at the end is every bit as interesting (and revealing) as Professor Zucman’s presentation.

A threadreader version of the twitter thread is here:

https://threadreaderapp.com/thread/1674191242681352193.html

A pdf version is here:

ThreadReader_0_expatriationlaw_1674191242681352193

The live Twitter thread …

John Richardson – Follow me on Twitter @Expatriationlaw

FATCA @Citizenshiptax and Wealth taxes: Laura Snyder Engages @Gabriel_Zucman In The Twittersphere

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Introduction

Citizenship-based taxation, FATCA and how the interact can best be understood by Americans abroad.

The professors (who have clearly never lived under a citizenship taxation regime and have limited understanding of FATCA) explain the relationship between U.S. citizenship-based taxation and the success of a – “Made In The USA” wealth tax – in the article which includes:

The situation in the United States is different. You can’t shirk your tax responsibilities by moving, because U.S. citizens are responsible to the Internal Revenue Service no matter where they live. The only way to escape the IRS is to renounce citizenship, an extreme move that in both Warren’s and Sanders’s plans would trigger a large exit tax of 40 percent on net worth.

Some people tweet. Some people tweet for fun. Some people tweet to educate.

The purpose this post is to collect the series of tweets that Laura Snyder complied to provide a higher level of education to the professors.

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