Can anybody explain why remittances haven’t been taxed so far? And why they will only be taxed at 3,5% even now? The whole point of exporting illegal migrant slaves for many countries (and for the slaves’ families) is to get these remittances. They should be taxed at 15% at the lowest. Ideally, I’d go to 30%.
This is the best way of stemming the tide of migration. And the best part is that not only will it cost nothing, it will be very profitable.
The suffering of these poor people who are thrown out and forced to migrate by their horrible, greedy families is a tragedy. I know such people, and my heart bleeds for them. They want to be back home, living their lives but they are forced to remain in exile, slaving away and living in terrible conditions to finance some ludicrous whim of more valuable family members. Sometimes, the families keep the migrants’ young children hostage. If you don’t send grandma a thousand dollars this week, you won’t get to see your 2-year-old on FaceTime.
I know stories that would make your hair stand on end. And we can stop all of this by simply taxing remittances. There’s no argument against doing it, none.
If the money is legally obtained from employment or a business then it’s already taxed both at
federal and state level, why should there be another tax just because someone wishes to send it abroad?
If it’s not properly taxed, then that’s the problem that needs to be fixed first,
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Have you ever heard of sales tax?
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To my knowledge it just hasn’t been on the radar, I think. (As mentioned above, the income is already taxed when earned.) Keeping in mind that plenty of wealthy people move money around, including sending it abroad, so you’d have to write the law carefully to not accidentally tax your politically-powerful constituents.
I don’t have an opinion on this as a future policy, just answering the question on why it isn’t the policy at this time.
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