The number of rich people who abandoned US citizenship last year turned out to be a record, reports AXIOS.
Almost seven thousand people with assets more than two million dollars handed over their passports. It is 237 percent more than in 2019. Rich is refused to citizenship, because they want to pay less taxes, the publication believes. The United States is only one of the two countries in the world, which charges the tax on the basis of citizenship, and not residence. The second is the country – African Eritrea.
Earlier it was reported that US President Joe Biden wanted to increase taxes for the richest Americans. The reform will affect citizens who earn more than 400 thousand dollars a year. The income tax rate will increase to 39.6 percent. Now such a bet is set for income above 406,751 dollars a year, while lower earnings are taxed at a rate of 35 percent and below.
Biden noted that the 55 largest US companies last year did not pay a federal income tax for a total of more than 40 billion dollars. “But I will not increase the tax burden of the middle class of this country. They are so paying enough,” the president promised.