RE:ARTICLE: IRS targets Belize gambling operation The charges make the Carib guys sound like criminals. In reality, they're the good guys and the Nazi-like U.S. Government is the criminal. If I were going to be involved in a sportsbook, I'd think seriously about renouncing my U.S. citizenship and buying citizenship in Panama or Nevis.
The truth is, it's hard to get out of U.S. citizenship, and if you say you want to do it for tax purposes, you might not be let out of the clutches of ever-greedy Big Brother.
The U.S. is the only major country in the world that taxes gambling income. Are they also the only one that taxes work or business income (over $70,000 per year) generated offshore? |