The Ron Wyden ”Billionaires Tax Act” - The Future Of US Taxation And Income Realization

<p>December 3, 2023 - Participants include:</p> <p> </p> <p>Virginia La Torre Jeker - <a href='https://www.twitter.com/vljeker'>@VLJeker</a></p> <p>John Richardson - <a href='https://www.twitter.com/expatriationlaw'>@Expatriationlaw</a></p> <p>On November 30, 2023 (on the eve of the US Supreme Court hearing in Moore), Senator Ron Wyden (along with other prominent Democrats) introduced the "Billionaires Tax Act".</p> <p>Further information is available here:*</p> <p><a href='https://www.finance.senate.gov/chairmans-news/wyden-leads-democratic-colleagues-in-introducing-billionaires-income-tax'>https://www.finance.senate.gov/chairmans-news/wyden-leads-democratic-colleagues-in-introducing-billionaires-income-tax</a></p> <p>Join John Richardson and Virgina La Torre Jeker in this podcast which includes a discussion of:</p> <p> </p> <p>- why the Billionaires Tax Act is an attempt to enact the Biden Green book proposals</p> <p>- why the proposed legislation includes people who are NOT billionaires</p> <p>- why an "applicable taxpayer" under the Billionaires Tax Act is similar to a "covered expatriate" under the 877A Exit Tax Regime</p> <p>- how the Billionaires Tax Act treats all the assets of "applicable taxpayers" as PFICs </p> <p>- how the Billionaires Tax Act makes the expatriation rules at least twice as punitive as they already are</p> <p>- why for those who want the possibility of living outside the United States, expatriation is the best financial investment one can over make</p> <p>- why it's better to pay 23.8% now rather than 49% later</p> <p>- and more ...</p> <p> </p> <p>______________________________________________________</p> <p>*NOVEMBER 30,2023</p> Wyden Leads Democratic Colleagues in Introducing Billionaires Income Tax Legislation cosponsored by 15 Democratic Senators would close loopholes in the tax code that let billionaires avoid paying their fair share <p>Washington, D.C. – Senate Finance Committee Chairman Ron Wyden, D-Ore., today led colleagues in introducing the Billionaires Income Tax Act, legi