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At 09:50 AM 1999-06-17 -0700, Alexander Levitin wrote:
>Dear Mark:
>Before you get to excited about those cuddly kangaroos you need:
>1. Learn "Australian solute".
>2. If you move anywhere where is better taxes (in Monaco tax rate is
>0.00% for all tax brackets) you still have to pay taxes on all your
>income to Mr. and Mrs. Clintons as long as you are U.S. citizen.
I think you can still lower your taxes by moving offshore. You wouldn't
be paying state taxes or muni taxes but just fed taxes?
>3. If you decided to change your citizenship then you have to pay full
>amount of estate taxes (plus some extra percentages as punitive and
>temporary measures) as you would have dyed, because that what Mr. and
>Mrs. Clintons waiting for you to do.
There's suppose to be a worse consequence. US IRS says you are leaving
because of taxes (net worth of 600k or so) and levies US taxes on you for
another 10 years?
Mark, you got to check out the LFC people/articles and they will give some
idea how to get out cleanly.
>4. But it is not so bad as it sound. When my wife and I left Soviet
>Union the government took our wedding rings because all gold was a
>government property. To the credit of Soviet Union they let us exchange
>$100. That was all we had when we arrived into U.S.
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