“In a way it’s reassuring that America’s billionaires are still so civic-minded that they buy laws and political parties: It’s a sign that they’re invested in the country and are here for the foreseeable. And the one law they’re not going to repeal anytime soon is the most important one—the one that says that U.S. citizens have to pay U.S. federal taxes on their global income, no matter where they live. (Or at least demonstrate that they’ve paid at least that much in taxes elsewhere.) American plutocrats, almost uniquely, are tied to their home country in a way that other members of the global elite can barely imagine.”
Felix Salmon in Reuters.com
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