Or the "Heroes Earnings Assistance and Relief Tax Act of 2007"
The more detailed title: "To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes."
It's only when you read the text you discover things like tax credits for low sulfur diesel fuel, tax subsidies for small business, and a $700 billion bailout for the financial services industry.
Ah, yes, the 'Heroes Earnings Assistance and Relief Tax Act of 2007'.
I'm no tax attorney, but I believe that was the act that subjects me to immediate capital gains tax on all my illiquid assets (read: start-up stock) at their fair market value should I ever stop being a permanent resident of the United States.
Woo, nothing like potentially bankruptcy-causing exit taxes, especially when they're triggered by losing permanent residency - a status that's not 100% up to me. And my fiancee wonders why I get nervous whenever I cross the American border.
Can you believe I was eventually planning to naturalize when I got my green card eight years ago? Now that just cracks me up.
The more detailed title: "To amend the Internal Revenue Code of 1986 to provide earnings assistance and tax relief to members of the uniformed services, volunteer firefighters, and Peace Corps volunteers, and for other purposes."
http://www.opencongress.org/bill/110-h3997/show
It's only when you read the text you discover things like tax credits for low sulfur diesel fuel, tax subsidies for small business, and a $700 billion bailout for the financial services industry.