- About that $5 million gold card Archived Message
Posted by larue33
on February 27, 2025, 10:15:08, in reply to "February 2025 politics thread "
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Currently, U.S. citizens, permanent residents, and green-card holders are required to pay income tax on their U.S. earnings as well as any income they earn overseas, including in their home country. The U.S. tax on worldwide income has traditionally made U.S. residency or citizenship far less attractive for the global rich, who have businesses spread across the world and often sheltered in tax havens. Trump said gold card-holders would not be subject to taxes on their overseas income. The provision means that gold card residents will be able to purchase a tax benefit not available to U.S. citizens. Advisors say they’re waiting on clearer directives, since the program could create dual-classes of taxpayers among the American wealthy. Yet the international income carve-out makes it far more attractive to the world’s ultra-wealthy. CNBC |
- Buttcrack March 1, 2025, 8:54:20