Sunday, August 8, 2010


Apparently the USA and the Philippines are the only countries that tax their citizens no matter where they live.

So even though I'm going to live and work in Australia, as long as I keep my US passport, I have to file a tax return in the US. And even if I give up my passport, the IRS reserves the right to tax me anyway for the next 10 years.

It's true; the IRS is the most powerful organization in the world. If we really wanted to catch Osama bin Laden, we'd just give him citizenship and then let the IRS go after him.

The good news is you don't pay tax on the first $91,400 you earn, and then you can claim the taxes you pay on the rest of it (but apparently only 90%). Since Australia taxes a lot more than the US, I probably won't have to pay any additional taxes.

But it also means I can't be a Classic Liberal and vote for taxes I don't have to pay, since eventually they'll come back to haunt me.

Gazing into my crystal ball, I see a tall, dark, handsome tax attorney in my future.

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