re: Gold Card immigrants won't have to pay income tax to the USA on their income earned abroad

BBONDS “I’m a tax attorney”.

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I don't give a F.

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CNBC/Bloomberg

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Trust me we are laughing AT you.

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That is literally a cut & paste from the article.
Just so you know that you're arguing with the article, not me
Go get em Tiger !

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You are clipping 1 part of the article without understanding what you are even talking about..

Also clipped from the article..

"This would be a big departure" in tax treatment, said Laura Foote Reiff, an attorney at Greenberg Traurig who specializes in business immigration. "There are many wealthy individuals who are invested in U.S. companies or have families here that do not become permanent residents because they don't want the tax consequences."

In other words, a lot of these people are already here and not paying taxes.. but Trump is going to get them to pay $5 million (which is essentially a tax.)

Most US Citizens will never pay close to $5 million in taxes during their lifetime. You'd have to make about $350k a year for 40 straight years to pay that much money in taxes.. Only 2% earn that much..

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Gold Card Citizens will not have to pay taxes on income earned abroad.
Other USA Citizens do have to pay income taxes on income earned abroad.

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Gold Card folks are NOT citizens.

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Dude, these people aren’t going to be buying million dollar houses; they are going to be buying $10 million houses. They won’t be competing with you, and the ones they are competing with don’t care.

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Rich people don't like competition either, you get that right?

How much are they paying into the U.S. treasury if they stay in China? Zero. So they pay $5M to continue to pay zero. What's the issue?

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Adajax

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Preach!!

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If you are willing to pay $5 Million just for a green card, then frick yes, that should come with that limited benefit. In fact, that shines a big-arse light on why are our citizens taxed on money earned outside of our country!

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People with green cards are required to report and pay taxes on world wide income (not just citizens). Just because you paid to cut the line doesn't mean you shouldn't have to pay the same taxes.

Hope this helps.

Retards abound.

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People with green cards are required to report and pay taxes on world wide income (not just citizens). Just because you paid to cut the line doesn't mean you shouldn't have to pay the same taxes.

Hope this helps.

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Are those people putting a lot more than $5 million in to the US economy? It appears that you have limited reasoning skills. A waiter or janitor with a green card contributes. A multi-millionaire willing to put up $5 Million, is about to drop a lot more than the initial sum just for access. That person is vetted, most likely a successful business person, and wants access to our market. They want to expand. $5 million is subjective. It would make a huge difference in my life, but to some, it's like going to the drive thru at Burger King. Those people are looking to expand their business, and willing to drop major cash. That means job creation and tax revenue. These are the people we want, not Raul, the border jumper lookting to cut grass, or Akbar who is fleeing frickustan because he got caught fricking his neighbors favorite goat. I almost forgot about the wonderful people who came here legally to learn how to fly planes. Hmmmm....I'm a little bit older, but I do seem to remember a few building coming down and thousands of American dying in horror.