Why Im Giving Up My Passport: Jonathan Tepper

The video discusses Jonathan Tepper's article on renouncing US citizenship due to stringent tax policies. It highlights the challenges faced by US citizens and green card holders abroad, emphasizing the IRS's aggressive enforcement. The complexity of the US tax code is criticized, and the potential for tax reform under a Republican Congress is debated.

What is one reason some Americans are choosing to give up their US passports?

• To gain citizenship in another country

• Due to stringent IRS regulations on foreign assets

• Because of high travel costs

• To avoid military service

How does the IRS treat Americans who create legitimate companies overseas?

• They are only taxed on US soil

• They are exempt from reporting

• They are treated the same as tax evaders

• They receive tax benefits

What is a challenge faced by US citizens living abroad regarding taxes?

• They are exempt from US taxes

• They must report all foreign income and assets

• They are not allowed to open foreign bank accounts

• They can only work in certain countries

What is a major issue with the US tax code according to the discussion?

• It only applies to the wealthy

• It favors foreign companies

• It is impossible to simplify

• It is too lenient

What is a potential obstacle to achieving corporate tax reform in the US?

• The need for a working relationship between Congress and the President

• Insufficient economic data

• Lack of interest from the public

• A Republican-controlled Congress