Trump’s Plan to Raise Taxes on the Rich

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Apr 7, 2025

The discussion dives into potential tax hikes on the wealthy and their implications for small business owners. It highlights the influence of populism on taxation policies, especially for high earners. A comparison of wealth contributions and international tax systems sheds light on misconceptions surrounding the rich. The conversation also examines the allure of relocating to countries with favorable tax regimes amid rising economic pressures in the U.S. Overall, it offers strategies for minimizing tax liabilities while navigating complex expatriate tax laws.

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INSIGHT

Western Tax Trends

Western high-tax countries are trending in the wrong direction regarding taxes.
Trusting any political party to keep taxes low is a mistake, regardless of their rhetoric.

ANECDOTE

Illusion of Tax Cuts

Henderson points out that even with Reagan and Bush's tax cuts, the overall tax burden remained high.
He uses this to illustrate the illusion of tax cuts not significantly benefiting small businesses and individuals.

ADVICE

Prepare for Tax Hikes

Henderson advises those living in high-tax countries to prepare for potential tax increases.
He suggests not relying on political parties and seeking ways to protect themselves.

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Months ago, Mr. Henderson warned that tax hikes were coming—and now, the headlines are catching up. Trump’s administration is considering raising taxes on high earners to cover tax breaks for service workers' tips.

In this episode, Mr. Henderson breaks down a report from Axios and explains why even a Republican administration may embrace populist policies that shift the tax burden onto entrepreneurs and top earners. He shares why relying on any political party is a mistake and outlines how global tax trends are moving against business owners in high-tax countries.

Nomad Capitalist helps clients "go where you're treated best." We are the world's most sought-after firm for offshore tax planning, dual citizenship, international diversification, and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.

We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.

No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.

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DISCLAIMER: The information in this episode should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.