Love Your Greencard? You'd better...
By Liz Zitzow - H.R. 6081, The “HEROES EARNINGS ASSISTANCE AND RELIEF TAX ACT OF 2008" has a hidden agenda that screws you, the Greencard holder, out of all your hard-earned money when you leave the US to return to your home country.
This bill passed the House 403 to 0. Zero. Everybody loves this one. And as always, the writer of the bill, Rep Grassley (NY 15th district Dem) has once again proposed taxing the crap out of people who have no choice and no vote. People who make our country what it is: The hardworking immigrants who live and build the American dream and want to spend a few years back in their home country.
See the technical explanation: http://www.house.gov/jct/x-44-08.pdf
They propose an onerous exit tax on anyone leaving the US with a net worth of over $600,000. They define "anyone" as US citizens and US greencard holders who have had their greencard for at least seven years.
However, greencards can be revoked for noncriminal actions, the most common one being going “back home” to work or to care for an elderly relative. Not only that, but greencards don’t actually confer permanent residency. They expire every ten years and if the holder of the card has not been in the US “enough” when it expires, they are automatically revoked and unrenewable. I find it extremely unfair, indeed, it beggers belief, that (a) INS can revoke a greencard just for going home for a few years and (b) as a result, they will be subject to this ghastly onerous tax. This is taxation without representation, and I believe my great, great, great, great grandfather lost a war over this (though y’all grandpappies won it).
I have written to Grassley, my congressman, and my representative numerous times over the past eight years about this issue, and yet Grassley not only ignores it, he continues to include it in every new bill he bloody well writes.
The law must exempt greencard holders from this taxation, or, if passed as is, must include a provision that makes holding a greencard truly permanent (barring criminal action).
Write to your congressperson. Speak out for the greencard holders who can not vote. If you know Grassley, explain what's wrong with his bill.