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#HowardLutnick is claiming he has sold 1,000 permanent US residence permits for $5 million each (Trump's "Gold Cards") to the world's wealthiest kleptocrats, oligarchs, and crypto bros (though he doesn't describe them that way).
note that these people will be able to live in the US but (unlike US citizens) will not have to pay taxes on their foreign income.
you should expect america's billionaires to start "emigrating" to other countries and "coming back" as Gold Card holders for tax reasons.
@cryptadamist Why wouldn't they pay taxes on their foreign income? Isn't that up to the other country to decide?
@Sibshops not quite... the US collects taxes on money its citizens make all over the world, even in other countries where taxes are also being paid on that income.
@cryptadamist Yeah I understand that. Except for cases where there is a Treaty like Mexico. But how would a gold card help with this?
@Sibshops if you have a gold card you can live in the US more or less like a citizen but avoid the taxes that would come with full citizenship.
@cryptadamist That doesn't seem right. Green-card holders are taxed the same as American citizens.
Well, I'd be suprised if the gold card was a get-out-of-taxes card.
@Sibshops these are not green card holders. they are closer to EB-5 visa holders and tbh i'm not sure what the tax rules are on that, but I am sure EB-5 is enough of a corrupt disaster as is.
> "Well, I'd be suprised if the gold card was a get-out-of-taxes card."
this shouldn't surprise you at all seeing who is running the government. these people are going to cut medicare to give a tax cut to the 1% already as it is.
the whole goal is to starve tax revenue so that the government can't function and eventually collapses.
@cryptadamist Ah interesting
@cryptadamist @Sibshops
And they are betting on the orange cockwomble not leaving the White House, because they can't possibly believe that those cards will be honored by the next administration, or even this one if it is challenged in court.
Even SCJ Roberts is getting annoyed by his attempt to overrule the judicial system, and he is just as territorial about his sphere of power as the orange cockwomble.
@cryptadamist @Sibshops
While stealing everything that isn't welded in place...
@cryptadamist When you give up US citizenship, the gov't requires you to pay taxes on unrealized capital gains. That's what got Roger Ver in trouble. I wouldn't suspect this will lead to much change due to that.
@freeagent yeah i am being a bit glib/reductive about my prediction but give them time. they're already talking constantly about eliminating capital gains on crypto entirely.
@freeagent btw i doubt Roger Very is going to be in trouble for much longer
@cryptadamist Interesting.
@cryptadamist I’ll believe it when they release the receipts. You couldn’t pay ME $5M to emigrate to the US these days.
@Salty what, you don't trust america's top used burning car salesman?
@cryptadamist @Salty TBCH, this liberal wouldn't be adverse to doing just that. That MF got here on a student visa and dropped out almost immediately, and didn't return, and was therefore an illegal immigrant.
Essentially, he has been breaking US law since the day he dropped out.
And while, at one time, he might have almost passed for human, the drug, power and money addictions, not to mention an enormous god-complex, have made him a complete monster. And when he and Putin's useful idiot got together, it was truly a match made in hell. Especially for the US, but the whole world is going to suffer.