Paying taxes overseas in lieu of paying taxes at home.

[Nick Rivers]

Suppose, hypothetically, that a person was tired of paying taxes to the American government on his online poker winnings but, at the same time, did not have any realistic means of emigrating. Would getting a foreign account and paying taxes in that account's country be a way of achieving this goal? I'm not advocating any fraud, just paying taxes to a different government than the US government, because it seems illogical for a poker player to give financial support to the United States government as it continues to trounce us with its legislation and tax codes. It is my understanding that the interest gained on money in foreign accounts is taxed by either the country in which the account exists or by the country in which the account holder resides, but not both. Is this also true for income deposited in said account, earned from an offshore entity (like a poker site), or does residence always trump this?