1837, "Facetious U.S. coinage" [Weekley], perhaps rooted in mock-Latin negation of squat "to settle." Said to have been used by the U.S. Western character "Nimrod Wildfire" in the play "The Kentuckian," as re-written by British author William B. Bernard and staged in London in 1833. Related: Absquatulated; absquatulating.
America is so F that it will never be anything worth living in. We are headed to become a hard left communists nation and a dictator in the pending future. No way out unless a revolution.
Actually, you do have a legal right to renounce. Practically, you NEVER want the reason to be about taxes. If it is, keep it to yourself.
You can legally choose to become stateless, but where’s the fun and security in that?
For this reason, you need another citizenship. Preferably, you want another Tier 1 passport. Choose wisely.
Move your assets out of the country first.
Don’t think you will hide financial accounts. It is illegal and there is no more privacy. Report each year, as required.
Look to your grandparents for the possibility of easy citizenship in the country they came from.
Dual citizenship is legal. So is having any number of citizenships. Be prepared.
There are laws about all this stuff. Be informed.
Disclosure: anything I may ever have had in this category was probably lost in a tragic boating accident.