Last year, news of Facebook co-founder Eduardo Saverin's forfeiting his U.S. citizenship caused Chuckie Schumer to propose a Reich Flight Tax to confiscate the assets of wealthy Americans trying to change citizenship. The proposal was similar to the Nazi Reichsfluchsteuer imposed on Jews escaping Hitler's Germany. Schumer even got Vichy Republican John Boehner to agree with the idea.
So where is Chuckie's outrage now that Tina Turner is giving up her citizenship in favor of Switzerland? Afraid to pick a fight with a pop icon?
The U.S. remains the only developed nation to tax its citizens' income even when they no longer live or work in the country.
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I talk a lot about inflation. But today was the first time in my life I actually used a dollar bill as toilet paper.