General Discussion
In reply to the discussion: Name something that's going well right now [View all]DFW
(59,950 posts)When Cheney and Bush wrecked the stock market, and the Dow was at 7800, I converted to a Roth IRA. I paid all taxes due at that point, which under the Roth rules, meant that after that point, if the value of whatever stock I had in there went down, too bad for me (could not deduct any losses), and if the value went up, good for me (no tax on the gain from that point on). I figured that with the Republicans gone, it could only get better, so I made the conversion. Well, we all know what the stock market did since then, but unfortunately, the Double Taxation Treaty between Germany and the USA never covered Roth IRAs, so even though I paid all taxes due back then, now the Germans still want half of any cent that I take out of it, and they don't give a rat's ass that I already paid full taxes on it (while I was still a legal resident of the USA no less!). I will not submit to a double taxation--even the German Constitution forbids double taxation (seems a former German government did that about 90 years ago with a select portion of the population, and they wanted to avoid a repeat). But in true Trump fashion, they don't care about what their Constitution says, they just want to take money and give nothing in return.
Heil Honecker!
I will give it away to Cancer research in the USA before I let some SED-wannabe think he's some reincarnation of Johann Ludwig Graf Schwerin von Krosigk. By the way, I did discuss this with Mark Kelly last Friday, and he said it is probably time to finally do something about the double taxation, or at least introduce a bill bringing the USA in line with the rest of the world, since we are the ONLY country left (besides Eritrea) in the world that does NOT recognize residence-based taxation.