1008: Should America Tax Money Sent to Other Countries?
Should America tax money people send home to their families? In today’s episode, we break down why remittance taxes are unfair, ineffective, and exactly the kind of policy Adam Smith warned us about.
Is America really stronger if we tax people for sending money to their families overseas—or is it just another government cash grab that punishes hard work and generosity? That’s the question we’re tackling today, and trust me, the answers might surprise you. If you’ve ever wondered why some politicians push for a “remittance tax” and whether it actually helps—or hurts—Americans, this is the episode you can’t afford to skip.
Studio Sponsor: Cardio Miracle - "Unlock the secret to a healthier heart, increased energy levels, and transform your cardiovascular fitness like never before.": CardioMiracle.com/TBNS Most people have never even heard of a remittance tax, yet it’s one of those sneaky policies that sounds good on paper but collapses under real-world scrutiny. On today’s show, we break it down in plain English. What is it? Who pays it? And why would Adam Smith—the father of modern economics—be rolling in his grave if he saw this policy come to life?
Here’s the reality: every dollar sent home by workers in America has already been taxed through income, sales, and property taxes. So why is the government coming back for a second bite of the apple? We walk through the numbers, the history, and the false promises behind this policy, showing how it raises little revenue while creating massive unintended consequences.
But this isn’t just about spreadsheets and percentages. It’s about the lives of real people—citizens and non-citizens alike—who are working, paying their dues, and trying to help their families. Is it fair to punish generosity? Or are we falling into the same mercantilist trap that Adam Smith warned about centuries ago, treating money as something to hoard instead of something that fuels prosperity?
By the end of this episode, you’ll see the remittance tax debate in a whole new light. We’ll connect the dots between history, economics, and the kitchen-table struggles of American families today. More importantly, we’ll show how bad policies like this distract from real solutions that would actually make life better for hardworking Americans.
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