definition for: #RBT

RBT is Residence Based Taxation. All countries use RBT except US and Eritrea, which both use CBT, citizenship based taxation. Erithrea has been condemned by UN for their oppressive use of CBT, defined as extortion of funds from Eritrean overseas citizens. US CBT requires that all US persons worldwide declare all income and accounts to US every year even if they owe nothing. Residence Based Taxation, similar to system used by export powerhouses like Germany, would simplify US tax system, boost US exports, help create jobs in US, empower American entrepreneurs and workers abroad in global world.