In case you wonder what the term "superwealthy" means in practice, the HEART Act of 2008 could offer some help. The act introduces a mark-to-market tax for people who wish to give up their citizenship, as well as long-term Green Card holders if they give up their Green Card. To prevent the super-rich from avoiding taxation. Senator Kennedy called it "the billionaires' amendment".
Now who is a billionaire according to Senator Kennedy? Anyone with (a) the tax liability above $139k on average over the past five years (inflation adjusted), or (b) the net worth above $2M (not inflation adjusted).
Now who is a billionaire according to Senator Kennedy? Anyone with (a) the tax liability above $139k on average over the past five years (inflation adjusted), or (b) the net worth above $2M (not inflation adjusted).
Hope that helps.