The SCOTUS ruling in favor of taxing unrealized gains is very real and the latest work-around to impose a “wealth tax”.
His administration, with its isolationist tendencies, decided that corporations “owed” more tax revenue to the U.S. based on (get this)…
Unrealized investment gains! Put simply, the law seeks to impose a tax on “imaginary” investment gains that haven’t even been realized yet.
But a case that has gone through the court system, and is now in the hands of the Supreme Court of the United States (SCOTUS), is challenging the merits of this highway robbery.
Unfortunately, the court justices are hesitant to do what they should do, which is to declare the law unconstitutional and toss it in the “circular file”:
U.S. Supreme Court justices on Tuesday appeared hesitant to upend a tax on Americans who have invested in certain foreign corporations, as they pondered the meaning of “income” in a case that could undermine efforts by some Democratic lawmakers to impose a wealth tax on the very rich.[…]
The one-time “mandatory repatriation tax” (MRT) is part of a Republican-backed tax law signed by former President Donald Trump in 2017. It applies to owners of at least 10% of a foreign company controlled by Americans. An issue in the case was whether this tax on unrealized gains is allowed under the U.S. Constitution’s 16th Amendment, which enabled Congress to “collect taxes on incomes.”
It seems like a cut and dry case. Taxation is theft. And taxation on gains that haven’t even happened yet is worse than theft.
If the law is allowed to stand, the IRS could be looking at a potential cash grab of $347 billion:
The law taxes U.S. corporate earnings abroad going back 30 years, even if the earnings haven’t been distributed. […] That means taxing people on income they never received and never owned, according to the Competitive Enterprise Institute (CEI) […] The Congressional Budget Office estimated in 2018 that the law would lead corporations to have a one-time tax liability of $347 billion.
Obviously, the outcome of this Supreme Court case could have a big impact on the U.S. tax system. If the Justices rule in favor of the law, it’d be bad news for Americans. But if the Justices rule against the law, it could have an equally significant positive effect, a…
The U.S. Tax System Could Be Upended as Early as June!
If (and it’s a big if) the SCOTUS rules this tax grab unconstitutional, it could have a kind of “domino effect” on the rest of the tax system, according to Forbes:
The appeals court noted the potential economic ramifications in its ruling for the government, writing that ruling in favor of the Moores would “call into question the constitutionality of many other tax provisions that have long been on the books.”
So that might be some good news to look forward to. But you’ll have to wait until June, when the United States Supreme Court issues its final ruling on the matter.
But even if SCOTUS were to rule the tax unconstitutional, the IRS and Democrats will simply look for other ways to grab as much of your income as they can. After all, I’m pretty sure the warhawks in D.C. have more wars to fund.
So while you wait on SCOTUS to sort this tax ruling out, I suggest you…
Build Your Own “Tax Escape Hatch”!
There’s always somewhere safe in the world to live freely, make good money, and keep as much of that money away from the IRS as possible.
The best way to do all of that (and more) is to become a digital nomad.
But the question I get asked the most is: “How do I get started?”
The answer is: You can schedule the first in a series of unlimited 1-hour consultations with me when you become a GWP Insider.
On the very first consultation, you’ll get an insider’s perspective from someone who is actively and successfully living the digital nomad lifestyle…
Prepare your best questions for the first call, and we will:
- Help you find a much safer place to live while keeping your money secure (and more private).
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People from all walks of life become GWP Insiders, like:
- A Canadian ecomm entrepreneur living in Portugal making 6-7 figures net. He needs to know where to register his company and how to get out of the Canadian tax system without owing much (or anything) in Portugal.
- A German SaaS company owner living in Thailand.
- A Brit who is nomadic with a digital marketing agency.
- An American with a digital products business living in Mexico.
- People who are escaping an authoritarian central banking system.
But even though my clientele are diverse, they’re all facing similar challenges.
They all want to keep their money safe, use the right business structure, and optimize it for a low-tax multi-jurisdictional approach in different parts of the world (with a high quality of living).
They also want to keep their private lives private.
Not to mention, if a Government suddenly decides to turn up the heat, my clients could pack up and easily leave at a moment’s notice…
And I’m the one guy they come to for help!
So if want a rock-solid exit plan, where you can exploit every possible tax loophole, all while avoiding the #1 most common business structure mistake (plus others unique to your situation)…
Then you should join us inside GWP Insiders.
Once you join, you’ll immediately get to schedule your first 1-hour consultation with me. This can be used to:
- Discuss your banking situation…
- Find every legal tax loophole that is possible…
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- Talk about proper business structure…
- Or even to make professional introductions for your specific needs.
One consultation would normally cost $445 to $4,000 depending on your situation, but GWP Insiders get unlimited consultations at no additional charge.
You’ll also gain access to the private membership area, which includes a variety of business, life, and wealth internationalization strategies that give you shortcuts to success with the following:
- Offshore companies,
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- And so much more.
Once you’re a member, you’ll want to immediately download and read the latest edition of my Offshore Banking Report.
Inside this valuable guide you’ll discover safe places to put your money along with my commentary to guide you, plus a whole lot more:
- The 9 best licensed offshore banks, plus my commentary on each.
- How to start banking in the US without visiting a single branch.
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- How FATCA could “trap” you even if you aren’t a U.S. Citizen.
- The Top 5 Traditional U.S. Banks that accept non-residents.
Look, I’ve made joining GWP Insiders and scheduling your first 1-hour consultation with me as easy as taking a walk in the park.
But if you’re still skeptical, let me provide just one example of the potential value that waits for you inside…
This one comes from a recent client case study (I’ve changed their names for privacy purposes of course):
My client, Mike and his wife Sara run a very successful online coaching program. Mike is American and Sara is from New Zealand.
They earn just a bit over $1 million per year in next taxable income. Mike and Sara were paying around $350,000 per year in taxes when they joined GWP Insiders and scheduled their first consultations.
After a few consultation calls, some business restructuring and a bit of creative residency planning, now Mike and Sara pay precisely zero in income tax, all completely legal in the US, New Zealand and their current country of residence.
Of course Mike and Sara had to invest money in addition to the membership program, but let’s just say their net tax savings was several multiples of their total investment to restructure.
That’s because I taught them several secrets that their accountants had no idea existed.
And here’s the funny part: They were so skeptical, they hired their lawyer to review my plan and he had no idea what I proposed was possible, but in the end he confirmed with Mike and Sara that everything was legit.
Not only that, Mike and Sara’s lawyer now refer clients to me.
And now, for a limited time, I have one more surprise for you to get started…
If you go to this special page and sign up you’ll also receive an 80% discount.
To live freely is divine,
Bobby Casey
Location Independent Entrepreneur
P.S. The U.S. Government appears to be addicted to finding new ways to grab as much of your income as possible (real or imaginary). The good news is you can build a “tax escape hatch” even faster…
Once you join us, bring me your toughest questions about paying as little tax as possible, and becoming a digital nomad. I’ll answer all of them on our very first call, from the perspective of an insider who is doing it right now.
Massive financial and personal security for the right person. Hurry, and go to this link to save 80% right now.
