Making Citizenship-Based Taxation Easy by Lynne Swanson in Tax Connections features the proposal by Shadow Raider which we previously posted as Brilliant Proposal for Elimination of CBT.
Heitor David Pinto wants to “make it easy” for Congress to move from citizenship-based taxation (CBT) to residence-based taxation (RBT).
Pinto thinks CBT is “absurd.” And he aims to help Congress change it.
“So Many Problems”:
CBT “creates so many problems for a lot of people for no good reason,” insists Pinto.
Connecting with Americans around the world through social networking, Pinto went to work. With no accounting or law background, the electrical engineer studied the massive IRS Tax Code and CBT history evenings and weekend. “It’s what I do in my spare time,” explains Pinto.
Pinto concludes there is no justification for CBT and makes concrete recommendations to “make it easy” for Congress to change to RBT.
Tax Connections adviised me they will include this in their “big blast” tomorrow of the top ten posts for the week. I sure hope someone in Congress sees it and listens.