5min chapter

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#1118 Joel Nagel On How To Protect Your Wealth During The Bear Market

The Pomp Podcast

CHAPTER

Are You Thinking About Expatriating and Giving Up US Citizenship?

If you can qualify for ancestral citizenship, that's what a lot of people are interested in doing. What the US taxes on expatriation is they treat you as if you sold all of your assets the day before you expatriated. So let's say I picked up a bunch of Bitcoin at the beginning and now I'm sitting on, you know, 300 million dollars of Bitcoin and it was never taxed. Would I pay a tax on that? Yes, I would. I would pay a large capital gains tax. It would be 20% capital gain plus the Obama health care tax 3.8%. And then you're going to say, well, Joel, that is a, that

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