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Author: Jeanwa Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121572  
Subject: Re: How do you give up your US citizenship Date: 7/5/2008 8:39 AM
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As a US citizen, if I buy a peat farm in Ireland, and I make some money off of it, I owe the IRS taxes on that capital gain. So if we're saying that US capital gains come with a moral obligation to pony up for the glorious system that made those gains possible, how is it that Uncle Sam can justify taking taxes from gains that were made in places that have nothing to do with the US? The IRS wants it both ways, and Americans will go along because it taxes a vulnerable population that they could care less about.

Why are you blaming the IRS?

They didn't make the rule. They just have the unfortunate role of inforcing it.

From the link

"Thanks can be given to a bill that passed Congress recently and was quietly signed by President Bush two weeks ago."

I have alot of sympathy for the IRS, they can only inforce the rules they are given, but they seem to take all the heat for the rules.

Jean
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