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Wednesday, February 10, 2016

Uncle Sam is a greedy leech

I have lived in Canada for over four years. I do not collect any benefits from my former country, The United States. The only things in my life that have meaning in association with it are I pay taxes and vote.

The US must tie these two acts together - taxes and the right to vote - because the country was founded on the concept that taxation without representation was evil. That's why they split from Great Britain. But I would argue that I have no voice in American politics. My issues do not matter to politicians. My home state of Washington is not busy insuring that expats from their state are treated fairly.

But the US wants to tax whatever they consider revenue that I make here in Canada, even if Canada doesn't consider it revenue. That means tax-free savings, retirement paid into Canadian retirement plans and any gains made on property. And what the US may tax in the future from expats is not fixed. It can change in an instant. As of this year, they are forcing Canadian banks to report on US citizen accounts so they can be sure they are getting everything they want.

I am taxed, but I am NOT represented. The US, unlike any other "free" nation in the world taxes you for life as long as you are a citizen. And they also make renouncing that citizenship expensive, time consuming and perilous.

The basic fee to apply to get rid of the burden of citizenship in the US is over $2,000. The wait time can be over 10-months. The exit fees include paying estimated taxes on future earnings. And they will estimate that those are, by the way.

They threaten that it may be harder to enter the country once you give up your citizenship. Like, who would do that kind of thing? Give up US citizenship? It makes them suspicious. You must be a threat now. We have to think twice about letting you in.

Frankly, it's nothing but a cash grab by those powerless to fight against it. When I become a Canadian citizen, I will have to revisit whether it makes sense to retain my citizenship. The only long term benefit will be social security. But I'm sure they'll tax that to the point of uselessness too.

The greedy leech keeps sucking.  

Read the Globe and Mail article about the issue here 

1 comment:

  1. Hi, Jerry...

    I completely agree. I'd give anything to leave here and move "next door" to a place that is closer to my ideals, but, alas, I am not a skilled worker. :/ I've nothing to offer Canada that would leave me open for consideration.

    I'll always love the American landscape, our arts, music, film, history and culture, but our government with its greedy, materialistic "we're better than anyone" attitude and its need to suck the life out of its citizens is ruining this country. There is no healthy work/life balance, health care is a joke and "criminal" in how it's profits before people, and police brutality and pride in gun ownership have become a "religion". I hate it. :( Good for you that you "escaped". Good luck renouncing your U.S. citizenship if you can.