Skip to comments.Why are Americans giving up their citizenship?
Posted on 09/26/2013 6:19:38 PM PDT by PotatoHeadMick
The number of Americans giving up their citizenship has rocketed this year - partly, it's thought, because of a new tax law that has frustrated many ex-pats.
Goodbye, US passport.
That's not a concept that Americans contemplate lightly. But it's one that many of them seem to be considering - and acting on.
The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before - 1,131 cases to 189 in 2012.
The list is compiled by the Federal Register and while no reasons are given, the big looming factor seems to be tax.
(Excerpt) Read more at bbc.co.uk ...
You didn’t do yourself the service of reading the discussion on that forum, and frankly, you know absolutely nothing about Australia.
PS. I suggest you stay exactly where you are.
What makes Paraguay an ideal place to be and to live if you like values and liberties similar to American ones? And what makes it better than all the other South American nations? Presuming of course, you were not merely being facetious or humorous with that answer.
This just in: Applied Materials and Tokyo Electron are merging and incorporating in where? in Netherlands, why Netherlands? taxes.
Impeachment file on Harrison J. Bounel, aka Barry Soetoro, aka B. Hussein Obama.
Read the article.
Most of these people are AINOs: Americans abroad who have little connection to the US except a passport that sits in a drawer. Our kakistocrats have made their lives miserable through tax and bank spying laws, so they’re taking the path of least resistance and turning in their passports.
What will be interesting is the situation 20 years hence when there is a shortage of younger workers and lots of countries desperate for them. The kakistocrats are certainly not making a very good case for the young and talented to stay here.
Silly tax more like it. The US is the only country that double taxes a person — so if you work outside the country, you pay income tax in that country AND you pay US income tax. That’s crazy.
actually, if one reads the article, it’s not the big masters of finance who get affected. Those sit in the US and get paid in the US. It’s the middle level people who go to live abroad who get hit
But most people, especially the one referred to in the article want to just live abroad for other reasons, not just for economic.
Can’t blame people. The former America is dead and gone. It was suicide. If I was wealthy I’d bail in a heartbeat before I coughed up another dime to the scumbag Democrat politicians to use for buying votes from their moocher base.
Many are middle class. Probably half are retirees.
Odumbo and the demodummies can be blamed for the exodus. Get rid of that bunch and we will see a lot of American wannabe’s coming back here in droves.
My son is an expat. The country he is working will not give him a passport, but next year he receives a residency card. Once that happens I seriously doubt he will return to the USA. Right now he is protected from USA income tax so he sees no reason to give up passport. He already receives free medical care plus he purchases private insurance. Unless it is an emergency or a bad cold or flu, he uses private insurance. Not a bad system we should dump Bozocare for something similar.
Giving up a USA passport is more than just getting a new passport. I have rarely needed a visa to travel worldwide. USA passport is golden in most countries, even a 1000 giving up passports is surprising.
I’m becoming familiar with the medical options outside the USA. After the SCOTUS ruled we are serfs and can be compelled to buy whatever the govt says I figured I would ultimately look for my medical care outside the USA.
I’ve got a friend who’s been working in Hong Kong for years. He wasn’t really an expat but he’d landed there for one job and stayed through a couple of changes, finally got tired of all the visa renewal crap and went for citizenship. Most were probably on a similar path, they’ve found themselves a new home and eventually it’s just not worth the trouble to keep officially being an American when you have no intention of ever living here again.
Recently saw a sign in Manila, Dialysis only P1,800 that is less than $50. There were competing clinics. Doc are good just have to shop around and get referrals