Posted on 07/04/2012 7:11:39 AM PDT by SeekAndFind
07/03/12 Laguna Beach, California – In November, millions of Americans will trudge to their local polling places to cast votes in the hope of improving their lives here in the USA. Between now and then, a few hundred Americans will vote with their feet in the hope of improving their lives outside the USA.
Last year, nearly 1,800 Americans surrendered their citizenship. In a nation of 300 million folks, 1,800 émigrés is hardly a rush for the exits. But the recent trend is, nevertheless, intriguing.
As recently as four years ago, only 200 people checked out of America for good. Back then, surrendering US citizenship would have seemed as unthinkable to most Americans as declining a free vacation to Hawaii to pay for a vacation in Newark. It would have seemed as crazy as:
Giving up citizenship would have seemed as incomprehensible as…go ahead, create your own simile.
Bottom line: Surrendering US citizen was absolutely unthinkable. But not anymore. Now it is “thinkable,” albeit still relatively rare. The absolute numbers are still tiny, but the trend conveys a very large message: Discontent is on the rise.
Increasingly, the used LeSabres and Augusta Municipals are winning the contest. And probably not because they are so alluring, but rather because the “Aston Martin” is starting to sputter like a used moped and “Augusta National’s” fairways are starting to sprout more weeds than its deep rough.
To be clear, your California editor remains an American citizen with a valid American passport…and no pending petitions in any American embassies to surrender his citizenship. His observations, therefore, are not personal…but they are heartfelt.
When Americans begin abandoning the “Land of the Free” to seek greater freedom elsewhere, it is time to sit up and pay attention; it is time ask yourself, “Why? Why are they leaving? What’s wrong?”
Is it just a “tax thing” or are other forces in play? Is it because folks don’t like:
Who knows the exact reason why 1,800 Americans chose to leave last year — nine times as many as left four years earlier. Certainly, each one of them had their reasons. But like a corporate insider that sells his own stock, there’s one thing you know for certain about his motives: he is not selling because he believes the stock will go up. Maybe he doesn’t believe the stock will go down, but no one sells a stock they believe will go up.
Likewise, Americans who bail on their country may not think things are going to get any worse any time soon, but they clearly do not believe things are going to get better. So far, the pitter-patter of footsteps heading for the exits is barely a murmur…but the murmur is getting louder.
Eric Fry
for The Daily Reckoning
Eric J. Fry, Agora Financial’s Editorial Director, has been a specialist in international equities for nearly two decades. He was a professional portfolio manager for more than 10 years, specializing in international investment strategies and short-selling. Following his successes in professional money management, Mr. Fry joined the Wall Street-based publishing operations of James Grant, editor of the prestigious Grant's Interest Rate Observer. Working alongside Grant, Mr. Fry produced Grant's International and Apogee Research — institutional research products dedicated to international investment opportunities and short selling.
I am not defending our immigration policies. 57% of immigrant headed households with children are on at least one welfare program. 25% of the adult legal immigrants who enter this country annually lack even a high school diploma. We bring in 1.2 million legal immigrants a year, far more than we need. Our immigration policies are destroying this nation.
Just yesterday, Michigan governor Rick Snyder virtually signaled encouragement for resident aliens to vote. That’s a lot of foreign students and H1B visa holders.
http://www.freerepublic.com/focus/f-news/2902511/posts
Loss of liberty, being microchipped under obamacare...
What I am trying to point out to you is when you have the rich leaving America with their wealth and the poor from third world countries coming in and adding to our debt via our various entitlement programs it financially is insane.
As America continues to rush toward third world status you can see the signs of it by the increasing amount of tyranny by the Feds and States, a national debt spiraling out of control, taxes going sky high (especially after the first of this upcoming year), a debasement of the currency like Zimbabwe and the ancient Roman Empire, refusal to enforce our border laws, more regulatory burdens on business, ever-increasing entitlement spending, etc., etc., etc.
It is insanity at its finest. I think of America as a boat where there are a very small few who are drilling holes into the hull and letting water in. At one point in our history we dealt with them and stopped it for the most part. Now everyone is too scared to deal with the next generation that doing it. Those that have the means are jumping off and swimming over to other boats. And the ones doing the drilling are bringing in others who will do the same. At some point the bilge pumps won’t be able to keep up and the boat will sink. From what I see the bilge pumps lost that ability back between 1970 and 1980 and we are taking on water at an ever faster rate.
Europe has a big problem with maintainng populations because of their abortion/birth control polices.. In a few years, many of them will be asking americans to move their country to maintain populations espeically when they get overrun with muslims.
Problem is: they are further down the road to serfdom than the US.
Yes, I think you are correct with this assertion of the situation. American citizens are taxed by the USA, wherever in the world they live and earn their livelihood.
The AARO (Association of Americans residing overseas) has been criticizing this anomaly for quite some time now, if I remember correctly.
Unfortunately, I don’t know whether any bill has been introduced to Congress in order to rectify the situation for Americans living abroad. At least not yet...
A disgrace. If citizens cannot depend on the integrity of our voting system, then our Republic is lost.
Abandon your citizenship........lose your gun rights. No Thanks.
Yes, that is this humble outsider’s opinion of America’s immigration policy as well.
It seems to me now vastly out of sync with America’s national interest, and this was already one of the conclusions drawn in the Congressional Jordan report from the mid-nineties.
It seems to me that the situation is even worse now :-(
How many of the 1,800 are rich? There is no doubt that we are importing hundreds thousands of the poor and uneducated into this country annually. And they will use our welfare system to further bankrupt us. They will also vote Democrat. Milton Friedman said that, “You cannot simultaneously have free immigration and a welfare state.” We have both.
The nation’s immigrant population (legal and illegal) reached 40 million in 2010, the highest number in our history. The U.S. immigrant population has doubled since 1990, nearly tripled since 1980, and quadrupled since 1970, when it stood at 9.7 million. Of the 40 million immigrants in the country in 2010, 13.9 million arrived in 2000 or later making it the highest decade of immigration in American history, even though there was a net loss of jobs during the decade. Growth in the immigrant population has primarily been driven by high levels of legal immigration. Roughly three-fourths of immigrants in the country are here legally. With nearly 12 million immigrants, Mexico was by far the top immigrant-sending country, accounting for 29 percent of all immigrants and 29 percent of growth in the immigrant population from 2000 to 2010. The median age of immigrants in 2010 was 41.4 compared to 35.9 for natives.
I am less concerned right now about the rich leaving Amnerica. Our out of control immigration policies--a product of the 1965 Immigration Act--have rapidly changed the demographics to the point that the Dems will soon become the permanent majority party.
87 percent of the 1.2 million legal immigrants entering annually are minorities as defined by the U.S. Government and almost all of the illegal aliens are minorities. By 2019 half of the children 18 and under in the U.S. will be classified as minorities and by 2042, half of the residents of this country will be minorities. Generally, immigrants and minorities vote predominantly for the Democrat Party. Hence, Democrats view immigration as a never-ending source of voters that will make them the permanent majority party.
Since the 1965 Immigration Act, our pro-population growth immigration policies have fueled major demographic changes in a very short period of time. In 1970, non-Hispanic whites comprised 89 percent of the population; today they are 66 percent; and by 2042, they will be 50 percent. The Democrats, under the banner of multiculturalism and diversity, have forged a political coalition that depends on individuals coalescing around racial and ethnic identities rather than the issues. The continuing and increasing flow of minority immigrants, mostly poor and uneducated, provides a natural constituency for the Democrats, which see them as their principal source of political power.
Currently, 1.6 million legal and illegal immigrants settle in the country each year; 350,000 immigrants leave each year, resulting in a net immigration of 1.25 million. Since 1970, the U.S. population has increased from 203 million to 314 million, i.e., over 100 million. In the next 40 years, the population will increase by an additional 130 million to 440 million. Three-quarters of the increase in our population since 1970 and the projected increase will be the result of immigration.
Yes, you are probably right. I only posted about the chi-squared distribution to point out that “significant” depends on the question you’re asking. We’re asking different questions.
Each American now personally funds abortion and the 4th of July.
The American Enigma.
Depends on which country you will go to...
Actually, Malta would be a very nice place to settledown. They do not permit abortion or divorce in their country. They do have an income tax, and VAT but no property tax.....and to top it off island in the Med.
Do you really think the Feds are going to give the data about the net worth of those who drop their citizenship and leave?
Yes, at this point the out of control immigration policies and border patrol are more of a concern because of the change in the demographic shift, but we are at a tipping point our ship is taking on a lot of water to the point that those with the means are getting out of dodge.
People in Germany as early as the 1920s saw trouble coming and started getting out. At that point the numbers were very, very minuscule compared to the numbers leaving in 1938 shortly before the gates closed.
How long will it be before America does the same?
And speak english
Very few are are the very wealthy. With the US putting the heat on foreign banks to report Americans (even green card holders). There are a fair amount of ‘Americans’ who became citizens while living in the US but have since moved back to their country of origin and are now subject the reporting requirements but have little or no connection to the US.
The reporting requirements also include disclosing the accounts of a foreign spouse which many are loathe to do.
If you renounce your citizenship, you forfeit your gun rights. Period. Read the questionare on the federal firearms form 4473 that has to be filled out when purchasing a firearm from a licensed dealer in the U.S. If you renounce your citizenship which is a “yes” answer on the form, you walk with no gun. It’s federal law.
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