Comment Re:Double Irish (Score 1) 825
No other country has this odd view, instead, money earned abroad is taxed abroad.
The problem is that quite often the money earned abroad isn't actually being taxed at all (or at an extremely low rate). Things like the Double Irish actually prevent anyone from taxing them (or taxing a small portion of the total income), using various legal loopholes, even if the income would normally be taxable. So you can have goods produced in one country, sold in another, and never be taxed anywhere (and in fact the company may well take a deduction on business expenses from production, or other such nonsense). That's the problem here: companies are using loopholes to earn money in countries and not pay taxes on it at all. It's legalized tax evasion.
Dual US/British citizen and earning money in Britain? Great, you'll be paying both UK and US income tax on that!
If and only if the British taxes are less than the taxes you'd be paying in the US, and then only up to the difference. Or you can take a $97,000 dollar exclusion on foreign income (so if you make less than that, you pay nothing). Really, the whole system is only intended to make sure that rich people and corporations that have the money and resources to take advantage of loopholes still pay what they owe (doesn't always work, of course, but thats the intent). Slashdot ought to be all over that.