Good information. So one CAN leave after paying an exit tax - it might be a small price to pay for a nice climate, low cost of living and to be free of Obamaphone lady.
Yes, you can always renounce your citizenship and live somewhere else, but (like everything) there are some crucial caveats you should consider.
To renounce your citizenship, you must find a country which will grant you either permanent status visa or citizenship itself. Also, you will lose all US protections if you are in a place which later destabilizes for some reason (you can’t go to the US embassy if some revolution breaks out, for example).
The Exit Tax itself can be considerable. Basically, think of everything you own right this instant. Then imagine selling it all as of the day before you expatriate. The tax is calculated on that Market to Market sum, above around $600,000 in value. This could significantly impact your retirement accounts, for example.
When it was proposed, it was called the Billionaire’s Amendment, but it applies to FAR more than just billionaires. The tax rate is calculated according to which tax bracket you fall into with that sum added to your existing ordinary income.
I think Argentina, specially south Mendoza has great landcapes and good opportunities for investment. If you would like to find opportunities here, I recommend to contact an advisor (I use services form a friend living here, but his not and advisor...just the voice of 10 years of experience!) and to use an advisor for immigration matter, because sometime you think you could not apply, or try to apply for a wrong type of visa. I’ve used services form emigratetoargentina.com and they gave our visas after a week. We will contract them again for the renewal. Also, take a look to Villa la Angostura...maybe one of the most beautifull places in the world. Good luck!