Comments by "dlukton" (@dlukton) on "🚨 Biden Wins. Here's How to Protect your Wealth." video.

  1. Yes, he's been predicting a Biden win since March, although he has never invoked the word "fraud" or "steal" in describing Biden's electoral prospects. (Maybe he just doesn't want to be inflammatory).
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  2. The next two years should be OK. But after that.... who knows.
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  3. Biden's proposed tax plan would have the effect of significantly increasing the cost of renouncing US citizenship. He wants to dramatically increase the capital gains tax (on amounts above $400K). Upon renouncing, one has to pay tax on unrealized capital gains, and so a large increase in that tax will raise the cost of renouncing. That particular tax is unlikely to get through the senate over the course of the next two years, but it could happen any time after that.
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  4. Using IRA money to purchase real estate in Turkey is actually an intriguing idea. On the one hand, the Turkish lira is likely to continue falling; but on the other hand, part of that loss would be... in effect.... underwritten by the US government because IRA withdrawals are taxed. So if a person were to invest $300K (or so) in a house in Turkey, but to then lose $100K on the currency, that $100K loss would be offset by the fact that less tax would be owed on the IRA withdrawal (that would occur later). And, of course, that $300K investment would result in a Turkish passport. Very interesting.
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  5.  @nomadcapitalist  If it can produce a passport, that could be a good idea.
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  6. Not before the 2022 midterm election.
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