Posted on 10/29/2015 7:33:32 AM PDT by AngelesCrestHighway
A record number of Americans have renounced their citizenship so far this year, according to data from the Internal Revenue Service.
According to IRS data published in the Federal Register on Monday, 1,426 Americans expatriated in the third quarter of 2015, bringing this year's total to 3,221 so far. The figure is 25 percent higher than the same period last year, when 2,585 renounced their citizenship.
People caught in America’s silly FATCA tax trap.
Can’t blame them one bit.
Keep fighting!...”F” liberals!!!
Go and try to open a business in Germany today, and then show up at some bank (even a big-name unit) and watch them squirm as you produce your passport. They really don’t like the regulations required and most smaller banks refuse to deal with Americans anymore in Germany. You really need to have citizenship of some third-world player (like Albania or Tonga) and just pretend you aren’t American (as sad as that sounds).
What kind of “American:” i.e. Abdul Bul Bul Damir who came in from the Near East, sucked on our welfare system and is returning home with his loot? What about Juan Maria Gonzalez who is retiring in Mexico on social security and is merely returning home?
I dunno, some days it seems like illegals get more respect that us lowly citizens....
Can I become an “illegal alien” inside of my country?
Last year more than 3,700 Jews from the U.S. and Canada moved to Israel.
I don’t feel so warm and fuzzy about my country these days either. And I am sympathetic to Americans living abroad and who have to pay double taxes on their income. The US government is like the mob. It always gets its cut.
You’ve got it all wrong. The ones leaving are the productive, bright ones. The government taxes success, Democrats demonize success, half of the country takes without paying in. Re-read Atlas Shrugged to see what happens when the producers check out. I don’t blame them at all. America is no longer the land of the free. We’re down to number 16 in economic freedom. We’re ruled by the ‘outrage’ of the day.
If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen.-— Samuel Adams
Nice quote, and totally off the mark. This is all about big government making it difficult for American citizens to reside abroad.
JimRed, proudly posting without reading the whole article since 2000.
;^)
That could be the whole total alone!
Going home to defend Israel but can’t they be dual citizens?
Yes they can be dual citizens but the whole point of renouncing US citizenship is stop being double taxed. BTW, Israel has a very high income tax rate too. Even US green card holders who move back have to pay US taxes.
Living in Norway for the past 10 years I seriously considered renouncing mine. But in the end the economics still work for me. If I become richer then I will reevaluate it.
BTW, FATCA is evil. Talk about Big Brother. Thanks Chuckie.
Many Jews retire there after a lifetime of planning.
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