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 ...
I wonder what happens if all the citizens of a state renounce their citizenship or if the state does it for them? I know that did not work out so well the first time but perhaps it is time to try it again!
Singapore is a police state and countries that are usually high on the Heritage freedom index are usually listed simply on taxes and business incentives, and don't take in obvious inherent rights into the index.
Let me know when you can open carry or simply carry in Singapore or Hong Kong. LOL!
I’d like to know the stats going back a number of years? Not just this year.
By 'popped', of course, I know you mean things like 'convinced to a new viewpoint', or 'fired from position of power'.
Please do not correct me btw.
False on two levels.
1. Most countries tax their citizens on world wide income.
2. The US allows an exclusion of up to 92,900 for income earned abroad.
The exodus has more to do with our rates on income earned here than overseas.
I agree. I think taxes are only used for keeping us schlubs in line. The real dough is in inflating the money supply. Takes it right out of our pockets, with us having no say in it whatsoever, and it’s not even done by the government, its done by a private bank that doesn’t have to open its books.
“A relatively small but professional group that targeted and popped a few hundred of the most egregious leftist media, education, money, union, judicial, and political voices would stop this in its tracks. They would either go to ground or be forced to over play their hand early. Not pretty - but a win win.”
So your solution would be to have another 1917 style “change”
Not so sure that would turn out the way it was intended.
Yah,I suppose.But the difficult thing is that in order for the State Department to "accept" your renunciation you first have to prove that you have citizenship in another country.Some US citizens have a second citizenship (mostly Mexicans,I believe) so I doubt that the numbers are large today...or that they've ever been large.I could be wrong,however.
Actually, I wouldn’t be that surprised if that man DID renounce one day. I had a vision of, if we’re able to get him out of there, him turning around and writing a book saying “HA HA YOU AMELLICAN LOSERS I NEVER WAS A USSSS CITI-SSS-EN I DID IT ALL TO BRING YOU DOWNNNN! I AM ALSO MU-SSS-LIM, PRAISE ALLAH!”
We considered NZ a few years back.
These days, we choose to stay and fight the good fight.
My ancestors fought with “Mad” Anthony Wayne, and I’ll be damned if I’ll just give up.
Right now we’re suffering from laws aimed at a specific class of people (hate crimes), bills of attainder, usurious taxation, oppression... they’ve got their thumb on us pretty good. It may be the inflation that does them in. Won’t do anybody much good to be on the government teat if the money they get from the government is nothing but worthless scrip. Then they won’t be able to keep up the charade about the “rich”. Everybody will be keeping an eye out for the feds.
“Let me know when you can open carry or simply carry in Singapore or Hong Kong.
Lots of people in Singapore don’t even lock their doors.
I believe the excess government regulation, excess invasion of privacy, usurpation of property rights and usurpation of liberty, the rise of freeloaders, debasement of our money, etc. is all conspiring to lead to the twilight of our country. In the meantime, Asia is on the rise. Asia now has more initial public offerings in the stock markets than the USA and the UK combined.
Unfortunately, I don’t see Romney as a solution to any of that.
Many are moving to secure second passports, now that the US is passing legislation to take away your right to a passport if you owe child support or back taxes. They are just as interested in freedom (and freedom of movement) as in paying lower taxes. Eventually, it is likely that capital controls are put into place to prevent you from moving your money to a better place. Eventually, they may restrict your ability to keep your options open.
I believe all that above is why people are making these choices. In terms of relinquishing citizenship here, I believe the Blue passport is the most expensive in the world.
Ultimately, it appears the only freedom from government excess is the age old multi-flag plan:
Citizenship in a low or no tax country
A$$ a different country, where you are a “tourist”
Source of income generated in a different country
Investments stored in another country.
As the saying goes, countries love tourists, but penalize citizens.
When the majority of the undocumented voters vote themselves more Obama dollars, voting does not work. The judges declare morjority votes moot and One UAV can kill your whole militia,,, what do you do?
if the building is full of rats and fully engulfed in fire, it's best to let it burn and come back to rebuild.
Please advise what advantage I have for being a American citizen. (unless black/Mex unemployed female with bastards)
Who is John Galt?
I was referring to the fact that in those times, the revolutionary leaders did identify with their respective pre-state colonies more than with the Crown. They were a minority, but better citizens and leaders than their Loyalist opponents.
You missed Chile, worth considering.
Because that's worked so well in the past?
Is this really a relevant posting? 1800 people out of millions and millions of us? What’s worse is I’m reponding to it in this post. This is nonsense.
STEP #1 :
A - Give a gift of $24,000 to each of your children
B - Now deduct $24,000 from your taxable for each of your children
STEP #2 :
A - Set up part of your home as a business office
B - Deduct part of your home utility expenses, phone bill, internet expenses, mortgage payments, and property taxes
STEP #3 :
A - Get serious about bartering for new and used items and services
STEP #4 :
A - THE BUFFET RULE: Alternate (deductible) business lunches (and other meals) with other friendly business peeps
B - Investigate the mucho El Cheapo vehicle full replacement insurance coverage for your garaged Classic Car (or PU or SUV) from Hagarty and the other Classic Car insurance company (I forget the company name - Try GOOGLE!) that advertises on the SPEED Channel
C - Deduct all or part the expenses, maintenance, insurance, and gasoline for for some or all your motor vehicles
D - Investigate leasing business use vehicles from your brother or another close relative
STEP #4 :
A - By now you should made great friends with a great CPA and bartered their services for some of your new or used items or services
STEP #5 :
A - By now the IRS and State Revenue Department will find you are a nearly or actually non-profit tax-exempt entity
STEP #6 :
A - Apply for any and all government bailouts and/or subsides and/or rebates
STEP #7 :
A - Improvise, etc.
B - Get a job with the GSA
Good point but you probably don’t need a gun in Singapore at least not the times I’ve been there.
Storms usually never last do they? I wonder what wind will blow this one out and what will be left when it leaves?