Posted on 11/14/2013 1:38:12 PM PST by SeekAndFind
Two data points for your consideration. One, via CNS News:
The latest Monthly Treasury Statement, which was released on Wednesday afternoon, relies on the estimate made by the White House Office of Management and Budget to say that federal tax revenues will top $3 trillion for the first time in the nation’s history in fiscal 2014. …
If the White House is correct that total federal tax receipts will hit $3,023,004,000,000 in fiscal 2014, that would represent an increase of $123,359,620,000 in constant 2013 dollars over fiscal 2007′s record tax haul of $2,899,644,380,000. Real tax revenues this year, according to the White House estimate, will be 4.25 percent higher than they have ever been.
And now, number two: The WSJ reports that, after adding up the expatriation numbers in just the first through third quarters of 2013, the United States has already surpassed its 2011 record by at least 33 percent. Already.
The Treasury Department published the names of 560 people who either were U.S. citizens renouncing their citizenship or long-term residents who turned in their green cards during the third quarter.
That brings the total so far this year to 2,369, according to Andrew Mitchel, a tax lawyer in Centerbrook, Conn., who tracks the data. For all of 2011, the number of published expatriates was 1,781, he said. …
“Nothing has changed in immigration law that would make people want to renounce,” said Freddi Weintraub, an immigration specialist and partner at Fragomen Worldwide, a New York-based law firm. “Current or anticipated changes in tax law and enforcement are driving this increase.”
People who renounced last year might have avoided higher taxes on income and estates—including those on long-term capital gains—that took effect in 2013. …
(Excerpt) Read more at hotair.com ...
No worries!
We can replace these highly educated productive ex-pat’s with third world America-hating goatherds!
That should solve everything!
If that’s the official number, then the real number is twice as high.
The USA is no longer the land of opportunity. It’s the land of take your hard-earned money and give it to lazy slobs so they vote democrat.
It WAS a great place. You were able to get a job easily. Only the husband needed to work and support a family easily. With several kids. A factory worker could have 5 kids and a decent place to live. I remember when.
No more. The factory worker now is supporting a wife and 1 kid and not getting by. Because he’s supporting 5 other people. Two baby mommies, 1 baby daddy, 1 druggie, and 1 kid who will soon be in prison.
And the marxists made it so the factory worker can’t save anything for retirement or to pass on to his kids. And the house that he worked hard for, they’re confiscating 3.5 % each year, only they’re calling it a ‘property tax.’
No wonder so many people are leaving. At least in Europe you have nice old buildings.
In 2014 I'll start by flipping some properties there and making some occasional trips, and within 3 years I should be fully relocated.
“If that’s the official number, then the real number is twice as high.”
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This seems to be a report only on “official” expatriation by those who give up their citizenship.
The vast majority of De facto expats never give up their citizenship. They, as myself, are still US citizens residing offshore.
There is no way for them to measure the number of us, but it is substantial, and will go up by a substantial number.
I do not know how, or why, one gives up their citizenship, without having a new one to replace it, and that is no easy job.
When we take this country back, cowardly ex-pats will not be allowed to return.
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