He didn't sell.
It a "constructive" (legalese for imaginary) sale that happens by law when one renounces citizenship, triggering capital gains taxes on the value of assets held at that time.
It's a wealth tax designed to deter citizens of means from renouncing citizenship (the US taxes citizens earning abroad).
Aaron Daniel
npub16zx…5dzc
2024-05-01 19:10:41
in reply to nevent1q…l3sc
Author Public Key
npub16zxfxy5ltnp992gp006jlyy9qc93qanzpfvv66fznvc7xul0ej0suk5dzcPublished at
2024-05-01 19:10:41Event JSON
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"content": "He didn't sell.\n\n It a \"constructive\" (legalese for imaginary) sale that happens by law when one renounces citizenship, triggering capital gains taxes on the value of assets held at that time. \n\nIt's a wealth tax designed to deter citizens of means from renouncing citizenship (the US taxes citizens earning abroad). \n\n",
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