I would remind my colleagues that we are not debating a tax on immigrants who come to the United States with little or no assets and who. through hard work. find a way to provide for their families. Neither are we talking about taxing each and every resident alien who succeeds in establishing a business or making profitable investments while here in the United States and later decides to return to his or her native country. This tax would apply only if the value of the individuals business or investments had increased by over $600.000. In other words. the first $600.000 in appreciation is fully exempted from the tax.
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