Skip to comments.CHART: Eduardo Saverin's Not The Only Rich One Trying To Save Money By Renouncing His Citizenship
Posted on 05/20/2012 6:06:04 AM PDT by SeekAndFind
Did you know the government publishes a quarterly list of every individual who renounces his or her citizenship?
The Wall Street Journal's infographics team decided to crunch the data and came up with a chart tracking the growth of how many Americans no longer wish to be so.
The results are fairly striking:
The accompanying article by Laura Sanders notes that in 2010, Congress passed a law requiring foreign financial institutions to certify that U.S. taxpayers aren't hiding money in them as a condition for being allowed to do business here.
(Excerpt) Read more at businessinsider.com ...
the only thing shocking to me is that the numbers dropped so dramatically between 2005 to 2008
We can't keep our beacon of freedom lit if we just let people leave willy nilly whenever they feel like it!
I’m kind of bewildered by your post EGPWS... i don’t know if sarcasm was involved or what.
Isn’t part of being free allowing people to come and go as they wish? Seems to me that we should simply change course and become [again] the place that people WANT to be.
The numbers are still small, but they obscure the fact that rich people throughout the world used to want to COME TO the United States because it was one of the few countries at the time governed by laws. How many of those have decided not to come because we now punish the rich as if they stole their wealth?
At last report, Obama’s pal Warren Buffett and his company, Berkshire Hathaway, owed more than $1 billion in back taxes for income earned as far back as 2002.
Buffett didnt move out of the country and renounce his citizenship to legally avoid paying taxes - he just refuses to pay them, the laws be damned.
If you are a pal of Obama the law doesn’t apply to you.
I suspect the govt’s rules make it easier for suspected terrorists to get into the country than for tax-fleeing expatriates to do so (even as a tourist).
In the words of the venerable Chuck E. Schumer, those who are given the opportunity in this country to become rich off of the backs of the poor by the democrat elitists in Washington, should give everything back that was so generously given to them if they leave. Otherwise they should be forced to stay and pay a hefty fee via taxes to pay back those who have given them their riches.
So this is the comical scenario to all of this. The guy with $100 million decides three years ago to quietly move his millions off-shore (bank-bonds, etc). After everything is in a safe bank somewhere, now he shows up to renounce himself...in the US consulate at the foreign country of course. The IRS guys try to use the new ex-patriot act but find that the guy is already prepared for them....with foreign lawyers prepared for them in the foreign court.
If only the Jews had been this smart back in 1938...in Nazi Germany.
That was the height of the housing boom when everyone owned an American house. No doubt they felt compelled to use it.
Alec Baldwin ping. Thanks SeekAndFind.
RE: How can we stay a free nation, strong and respected, if we allow people to leave just because they want to?
That’s what the East Germans and the Russians also said during the cold war.
I remember during the Republican debates when people laughed at Ron Paul for saying he opposed building a wall between the USA and Mexico because doing so will not only ensure that people won’t come to the USA, it will also be used later to ensure that Americans will be forced to STAY IN the USA.
After seeing what’s happening today, I’m not laughing anymore.
That’s right. “Give us your tired and huddled masses longing to be free. But understand that once you get here you can’t change your mind!”
Yes, what a hypocritical SOB and I saw where he’s buying up 63 newspapers. Just ducky (NOT).
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