REPUBLICANS TO THE WORLD: WHAT DO YOU WANT US TO DO? There was a general consensus in the Capitol yesterday: PRESIDENT DONALD TRUMP thoroughly embarrassed the United States standing next to Russian President VLADIMIR PUTIN on the world’s biggest stage. SEN. TOM COTTON (R-ARK.), a reliable Trump ally, criticized the president -- albeit not by name. REP. WILL HURD, a Texas Republican who was a covert CIA operative before becoming a politician, told CNN’s Jake Tapper, “I’ve seen Russian intelligence manipulate many people in my career, and I never thought the U.S. president would be one of them.” SEN. LINDSEY GRAHAM (R-S.C.), Trump’s golf buddy, even had choice words. Story Continued Below BUT, PRIVATELY, senior-level Republican aides and lawmakers had a second message: WHAT THE HELL DO YOU WANT US TO DO? HOLD HEARINGS? They’ve done that, they say. Nearly every Capitol Hill probe into the 2016 election showed that Putin’s Russia did, … [Read more...] about POLITICO Playbook: GOP to the world: What would you like us to do?
Taxing us citizens living abroad
Protesters rally against President Trump's travel ban outside the Supreme Court on January 30, 2017, three days after Trump announced the ban.Jeff Malet/Newscom via ZUMA Looking for news you can trust?Subscribe to our free newsletters. For the first time in Donald Trump’s presidency, the Supreme Court will begin hearing a case Wednesday in which it will decide the fate of one of his key policies. At stake is his travel ban, which bars entry into the United States by people from several Muslim-majority countries. The court has already allowed the ban to go into effect while it hears the case. That means that thousands of American citizens and residents, foreign students, and their loved ones are feeling the effect of the ban, which applies to most nationals of Iran, Libya, North Korea, Somalia, Syria, and Yemen, as well as certain Venezuelan officials. We asked some of those people what they want the Supreme Court to know as it hears oral … [Read more...] about This Is What People Whose Lives Have Been Upended by the Travel Ban Want to Tell the Supreme Court
This actress’ royalties are going to be a headache for her accountants. Tuesday was “Suits” star Meghan Markle’s last tax day as a single woman. Her days as an American citizen may be numbered as well, according to a source with ties to the princess-to-be. On May 19, Markle will marry Prince Harry and become a royal — though not yet a British citizen. Considering all the tax complications the IRS imposes on citizens living abroad, we’re told that the Los Angeles native has been urged by some associates across the pond to cut ties with Uncle Sam, though not everyone stateside thinks that’s a good idea. “Friends are encouraging her not to give up her American citizenship,” we’re told. “That doesn’t mean she wouldn’t.” The royal family’s finances have historically been a highly private matter, but should Markle maintain dual citizenship in the U.S. and the … [Read more...] about Meghan Markle may give up U.S. citizenship to avoid royal tax hassle
Last Updated Aug 30, 2017 10:16 PM EDT President Trump delivered a speech Wednesday afternoon from Springfield, Missouri, on his administration's broad goals for a major tax overhaul. In the address, which was touted by the White House as a "tax reform kickoff event," Mr. Trump outlined his administration's four main goals for the tax overhaul: Simplify the tax codeEliminate special interest loopholesProvide tax relief for middle class familiesCut the corporate tax rate "Our tax system should benefit loyal hard-working Americans and their families," Mr. Trump said, promising to lighten the tax "burden." The president vowed "to work with Congress, Republicans and Democrats alike" on the matter. His remarks come as the debate over tax reform heats up among congressional leaders ahead of their return from the August recess. Simplifying the tax code has been one of Mr. Trump's goals since his days as a presidential candidate, and Congress is expected to make it a key focus of … [Read more...] about CBS News Logo Trump outlines tax overhaul goals
(Money Watch) Ever wish you could live somewhere with a lower personal income tax? You're not alone. An increasing number of people are renouncing their U.S. citizenship and a fair number seem to be doing it for tax reasons. According to Reuters, a record 1,800 people either renounced their U.S. citizenship or returned their Green Cards last year. That's the most since the Internal Revenue Service began tracking this number in 1998. The total is up 400 from 2010, almost eight times the total for 2008, and more than 2007, 2008 and 2009 combined. This can be an especially attractive option for the estimated 6.3 million U.S. citizens living abroad. That is because the U.S. is one of the few nations to tax its citizens on income they earn while living in another country. If you're already living somewhere with a lower tax rate, it may very well make fiscal sense to change passports. Compared to other nations the U.S. tax rate isn't actually all that bad. The median U.S. income is around … [Read more...] about Would you leave the US for lower taxes?