Skip to comments.Taxes Prompt More Americans to Renounce Citizenship
Posted on 04/16/2012 6:43:58 PM PDT by markomalley
A year ago, in Action Comics, Superman declared plans to renounce his U.S. citizenship.
"'Truth, justice, and the American way' it's not enough anymore," the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in Tehran.
Last year, almost 1,800 people followed Superman's lead, renouncing their U.S. citizenship or handing in their Green Cards. That's a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It's also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.
But not everyone's motivations are as lofty as Superman's. Many say they parted ways with America for tax reasons.
The United States is one of the only countries to tax its citizens on income earned while they're living abroad. And just as Americans stateside must file tax returns each April this year, the deadline is Tuesday an estimated 6.3 million U.S. citizens living abroad brace for what they describe as an even tougher process of reporting their income and foreign accounts to the IRS. For them, the deadline is June.
(Excerpt) Read more at cnbc.com ...
They don’t deport non-citizens anyway and they’ve have no place to deport you to.
The U.S. is tenth and trending downwards.
Chile is seventh and trending upwards.
Australia is THIRD and trending upwards.
Maybe it’s Australia, then, and they speak English.
Takes time and you are a U.S. Citizen in Australia on a Visa until you meet citizenship requirements. Wonder if this means you pay taxes in both places?
Looks like the U.S. has been on a slide for sometime. Tenth and going down. Look at the corruption index. Nigeria hasn’t got a thing on the U.S. The U.S. is just more genteel about it. What a shame it has come toward the end. Highest corporate taxes in the world, tax everything no matter where it is earned etc.
Almost all countries are going to make the process painful but if you have lots of money maybe it can be done.
I had thought about Vietnam. Wonder if they’d let you in?
I guess all you really need to do is get a permanent visa, move your money to someplace that doesn’t care and check out of the U.S. and just never come back.
U.S. citizen ex-pats in France pay U.S. taxes, plus 50 percent to France.
If you renounce your US citizenship, are you permitted to re-enter the US?
Has anyone attempted to renounce their US citizenship while living in the US?
What are the easiest countries to obtain resident alien status? Citizen? I thought that the Caribean island nation of Dominica was pretty easy to get a passport if you had 60k.
Which foreign nations have gun rights comparable to the US? This is a pretty good indicator of individual rights.
France, was never on my list and won’t be... at least on my good list.
I guess that keeps U.S. Citizens out of France.
What about the Muzzies?
Born in Tennessee in 1912, he renounced in 1964, avoiding $100m in taxes.
It was just an example. Taxes in some European countries are higher, Sweden for instance.
So I guess you have to look at the tax rate you would have to pay in each country you are interested in, and calculate that it would be added to your U.S. rate.
This was not a comment about France. I just happen to know a couple who live there and the guy makes a lot of money so he doesn’t care. He loves Paris. But I wonder how high U.S. tax rates would have to go for him to give up his citizenship.
We don't need them. For every rich guy who renounces their U.S. citizenship there are hundreds of illegals coming here to the US for the *benefits* of being American.
And it's poor people like them who create jobs by spending their welfare checks, not those greedy rich guys who refuse to pay their 'fair' share.
“If you renounce your US citizenship, are you permitted to re-enter the US?”
4 months a year without being considered a tax resident.
“Has anyone attempted to renounce their US citizenship while living in the US?”
The problem is that the US not only will tax your earnings in the US, but will tax what you own overseas.
So we retired to my husband’s home and only taxes on our retirement income. But theoretically, Because the family business (run by the extended family) has my husband’s name on it as joint owner, we should be double paying taxes on it too: Taxes to the Philippine government, and taxes to the USA on what the business earns here.
My husband ignores the law, because he’s in his 80’s and figures they won’t go after him for a joint owned business here that really doesn’t make a lot of profit.
But if we were really rich, it would be good business sense for him to just drop the US citizenship instead of being a dual citizen.
And being a dual citizen might be a good way to get around other problems if the US continues to go to the dogs: IF Mr. Zimmermann’s mom had registered him in the Peruvian embassy as a kid, he could have been eligible as a dual citizen, and could flee to Peru for political asylum.
Maybe one day Obama will renounce his U.S. citizen...oops, never mind.
Don’t take it too seriously. The comment was about France, not an affront to your notice of the double taxation.
As stated in one of my previous posts, I suppose you could just move your money to the Caymans and disappear to someplace where your visa was secure.
Wrong. They were the best citizens of the states in which they were born.
I have a legal immigrant friend who is quite dismayed at how unfree the US has become. The conversation started when he read that there was a new law outlawing public breastfeeding. He asked, why do we need a new law? If people are uncomfortable, cant they just respectfully ask her to cover up or offer a jacket or look away. In his native country the overall government is considered more socialist than ours, but individual day to day life is much more free. Not sure if the US is beyond repair, but it appears more so every day.. personally I am weighing all the options. I speak 5 languages, (well, 3 profiently, 2 enough to build on) so moving would not be a problem.
I’m declaring myself a micronation. You may address me as your Majesty.
Now I can go on welfare and call it foreign aid.
I don't think it was called the United States of England when the colonists declared their independance. Your history book must be different than mine.
My statement was correct. The Founders did reject British citizenship and were upset over taxes (among other things).
Further, revolting against the crown would mean they weren't good British citizens......your English comprehension book must be different too........FRegards
Yes, taxes are outrageous and we have loads of problems. But we truly won life’s lottery by being born in this greatest nation on earth. Those renouncing that priceless gift are total jackasses.
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