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It doesn’t seem all that different from the existing exit tax.
The existing exit tax is essentially what you'd have to pay if you stayed in the US but sold all of your assets. These are taxes that you're assumed to already ultimately owe, but for the sake of convenience are only paid at the point a transaction occurs.
Ok but that still sucks.
Fair. My thinking was that the existing exit tax taxes all those years of eg retirement gains all in one year, pushing into the highest rates, when one might otherwise never have paid anywhere near as much.
But yeah, the Bernie one is a wealth exit tax, not an earnings tax. That *is* different.
Well hell, long time bernie supporter just became a non supporter. You lived up to your end of the contract, it is yours.
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