The US has worldwide taxation (so you can’t just live somewhere else to avoid taxes) and an exit tax (so you can’t just renounce your citizenship without paying up).
The exit tax would probably need to be increased to not make it an attractive choice, but it does already exist. I believe the current tax is basically “pay a 23.8% capital gains tax as if you sold everything”.
Won’t elon just move to another country that’s a tax haven if this happens?
The US has worldwide taxation (so you can’t just live somewhere else to avoid taxes) and an exit tax (so you can’t just renounce your citizenship without paying up).
The exit tax would probably need to be increased to not make it an attractive choice, but it does already exist. I believe the current tax is basically “pay a 23.8% capital gains tax as if you sold everything”.