mert
@0xmert
It is genuinely crazy to me that you have to pay taxes on your **illiquid startup equity** to EXIT the communist nation of Canada How the hell is that even legal
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Jorge Schnura
@schnura
Same thing happens in Spain
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Saadiq
@saadiq
What do you think is a better way? As I understand it, the point is for situations where someone wants to build wealth in say California but then move elsewhere once they have done so to avoid paying back into those things they benefitted from. CA has public mechanisms to support wealth building that are themselves supported by taxes. Texas for example has much lower taxes and is quite attractive for the stock rich. (I don’t think there’s currently an exit tax for US interstate travel but it’s the example I’m most familiar with.) Is there a better way?
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Tyga
@tyga
Haven't heard about this... starting to hear more talks of taxes like this in the States, too. Crazy.
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Shadow06
@shadow06
It's communist
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Jack
@jackten
It's the same in the US. They don't actually want the wealthy to leave, so they hold your wealth hostage
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thoughtcrimeboss
@thoughtcrimeboss
Exit tax in US is bad too, if Roger Ver has sold enough of his BTC to pay the full amount it would of completely crashed the entire market. People love to say, if you don't like it just leave. Well if you could leave without literally being robbed that would be a valid argument. Implied consent to governance based on where you happened to be born is a BS concept since many can't leave, like all the people on probation or parole for nonviolent victimless crimes who literally aren't even allowed to leave their states let alone the country.
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