QUESTION: Martin,
typically I agree that Digital ID are a nasty concept, if we thought id theft was a problem, I can’t think about the problems this may create.
Nonetheless, if we ever hope to have a type of a direct democracy, wouldn’t this be helpful to facilitate this finish purpose?
Jim M
ANSWER: I agree, a type of verifiable ID is critical to safe an actual democratic course of. What’s of larger concern is the digital forex. When you remove money, they management what you should purchase, who you may donate to, and you may be prevented from leaving. Simply as Gavin Newsom in California or New Jersey, in case you depart their tyranny, they need an exit tax. How dare you flee from their abuse of energy!
America federal authorities additionally has a big exit tax that applies to sure people (“covered expatriates”) primarily based on the present worth of their property, not on future earnings.
The Exit Tax (Mark-to-Market Tax):
This tax applies in case you meet the definition of a “covered expatriate” whenever you surrender. It treats all your worldwide property as in case you offered them for his or her truthful market worth on the day earlier than your expatriation date. You calculate a hypothetical capital achieve on this “deemed sale.” The primary $821,000 (for 2024, adjusted yearly for inflation) of this web achieve is excluded. Any web achieve above this exclusion quantity is topic to capital positive aspects tax (at present as much as 23.8% together with the web funding revenue tax) as if it have been realized revenue on the day earlier than expatriation.
Crucially, this tax is on the unrealized positive aspects in your property as much as the date of expatriation. It’s NOT a tax on revenue you count on to earn sooner or later after you’re now not a citizen. Nonetheless, let’s say you began an organization, they’d argue what it might be price in case you went public and demand a tax on that fictional quantity. This will get very sophisticated. You might be being taxed on inflation – the depreciation of the forex over time, not buying energy. The underside line is that all of us have a tattoo on our ass when born, declaring we’re the property of the federal government for them to tax as an financial slave, and the way dare you count on any rights or something in return? Even Switzerland has a world wealth tax. You might be taxed on the worth of overseas property yearly primarily based on forex fluctuations, no much less.
So whereas a digital ID is finally essential, the federal government will abuse each likelihood they get as a result of they view us as financial slaves, not a lot completely different from the Slavery of the 1860s. Freedom could be purchased, however solely at a stiff worth. Right here is the top of the European Central Financial institution admitting they may management what you should purchase or promote. If you’re contemplating resigning your citizenship, it’s advisable to seek the advice of an skilled. That is way more sophisticated than simply what seems on the floor.
We’re the enemy – the Financial Slaves to Assist Their Aspirations of Glory
