Bush screws US Expats with massive tax hike

About a month ago Bush jacked up taxes for expat Americans from 10% to 25% (starting rate… it goes up from there.). In a nice twist, the tax hike has the Orwellian title “Tax Increase Prevention and Reconciliation Act”.

[Tax Increase Prevention and Reconciliation Act

Those darn tax-and-spend (on war) Republicans. Anyway, its nice to see them forced to put their money where their mouth is.

Which GOP plank is this, it must be the “exploit the disenfranchised” plank.

Actually, I kind of doubt there are any Forumosans affected by this, since you still have to make more than $82,400 (US, not Taiwan dollars) to have any US tax liability. Also add the $11,000 housing exemption. Probably not too many 6-figure English teachers. But in case there are, instead of paying at 10% you now start paying at 25% and it goes up from there. BTW, its retro-active to January of 2006. And it follows you wherever you go, even if you make money on the North Pole.

My point is: odds are anyone making that much is a Republican, and I wanted to laugh at them. Now you have to pay for your wars. Think about that as you write out checks for another $5,000… $10,000… $20,000 each and every year.


And my capital gains taxes already fund the wars, and schools, and roads, and NASA and…

So can we take it you’re a Bush fan now? At least on tax policy?


[quote=“redandy”]So can we take it you’re a Bush fan now? At least on tax policy?


Oh yeah. Cutting the capital gains tax should have happened YEARS ago.

Now if they’d only scrap the dividend tax.

Much yap yap yapping about nothing.
Structure your portfolio and just keep smiling… :smiley:

The $80,000 exemption still applies. The tax hike won’t be a problem for most of us.

If you’re making more than $80,000, :boo-hoo:

Like Chris said, I wish this was a problem for me.