Posted on 09/27/2013 3:57:22 AM PDT by the scotsman
'The number of Americans giving up their citizenship has rocketed this year - partly, it's thought, because of a new tax law that is frustrating many expats.
Goodbye, US passport.
That's not a concept that Americans contemplate lightly. But it's one that many of them seem to be considering - and acting on.
The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before - 1,131 cases to 189 in 2012. It's still a small proportion of the estimated six million Americans abroad, but it's a significant rise.
The list is compiled by the Federal Register and while no reasons are given, the big looming factor seems to be tax.'
(Excerpt) Read more at bbc.co.uk ...
well its because this America isn’t the America the Founding fathers wanted. It has morphed into a crappy banana republic.
Two party System....Yeah right...GOP....DNC....same damn thing.
Obama took this country, slipped it a micky and raped the hell out of it.
May they all rot in hell
Other tax and accounting laws have caused foreign companies to delist from US stock exchanges not because they’re doing anything illegal, but because complying simply costs too much. US companies have no choice. But since the largest money frauds are being committed by the US government and the Federal Reserve I doubt the investors get any benefit from the “improved” visibility.
So after the next American Revolution, after we take our country back....are we gonna let those traitors who renounced their citizenship back into the country?
Obama's America - The Land Of The Free Stuff
Effort by both parties, it’s your turn to play the bad guy we were the bad guys last week. They are bringing us down to the rest of the world so we will all be overjoyed with the new world order
Folks need to grasp the whacked-up situation.
Joe has cash and a good business concept...and found a company in Germany with very capable employees to produce his product. Joe buys the company, gets a visa, and starts to actively run his 100-man company.
German banks hate dealing with Joe because of the various IRS mandated forms and requirements. Most German banks won’t touch Joe...the ones who do...charge a fair amount on fees. They are all waiting for the next IRS dump of more rules and regulations.
Added to this is the continued suspicion by the US government of Joe cheating on his taxes. The strange thing is that Joe isn’t making a penny in the US...nor living there....or consuming any US benefits. Joe wants to make a buck....but in Germany, and by his methods.
Senators involved in denying Joe? Yes....Republicans and Democrats are actively trying to limit Joe and the thousands of others like his. Lobbyists on this mess? Very likely. They want to corner the market and limit competition.
Joe will one day travel to Albania....pay some lawyer cash...and get a new identity....”Albania Joe” then will get a passport and a new identity...to appear in Germany and be fresh and clean, while still an American. For the rest of his life....he will pretend to be American...but in reality...be “Albania Joe” because the system mandated it.
“...after we take our country back....are we gonna let those traitors who renounced their citizenship back into the country?”
****
Said the Germans post-WW II to the Jews who fled.
The traitors are those propping up the system that has shredded the Constitution and bankrupted the country...not those with the good sense to get out before it is too late.
“WE”, white man.?
The traitors are those propping up the system that has shredded the Constitution and bankrupted the country...not those with the good sense to get out before it is too late.
++++++++++++++++++++++++++++++++++
Amen.
It’s really a big deal to give up the citizenship of your birth. You need a job, a secure situation, and citizenship in another country. Your family has to be there too.
You have a painful exit interview with the IRS. An exit interview with the Stasi would be more pleasant.
Given that, the +- 2,000 who did it this year is enormous.
The USA has become an income grabbing fascist country. Freedom of speech is but a happy memory. Entrepreneurship is scorned. Productive descendents of Europeans are treated like third-class citizens and accused of all the evils in the world. Most big cities are dangerous for productive people, with no-man’s land areas - go in at your own risk.
The Peyton Randolph that I knew did not flee the country. He was a true patriot.
This is no longer the land of our forefathers, besides by giving up their citizenship they can cut their taxes, and they can still vote and be president.
“WE”, patriots, upholders of the Constitution that my, our, forefathers fought and died for.
1. You do not know Peyton Randolph. You can speculate as to what he would have done.
2. He was a sickly old man while serving in the Continental Congress who died before the Revolutionary War broke out. While he favored independence, whether he would have supported war to achieve it is unknown. His interactions with Patrick Henry suggest that Randolph was not a supporter of revolution.
3. Following your logic, the pilgrims and everyone else who fled to America to escape persecution would be considered traitors to their home countries.
4. When the government becomes the oppressor, you may volunteer to risk your life to overthrow it. However, you do not have the right to insist that others risk theirs in common cause with you. Just as they have no right to insist that you leave too.
“When the government becomes the oppressor, you may volunteer to risk your life to overthrow it. However, you do not have the right to insist that others risk theirs in common cause with you.”
That says all I need to know about you.
I suggest you need a little refresher history course. Had Randolph lived and been able to fight, I can assure you he would have been right along side of George Washington, Patrick Henry, and the other true patriots. Randolph was one of the staunch opposition leaders against British taxation and a mentor to Washington and Henry. My grandfathers “literally” stood beside Randolph in Williamsburg and Richmond and did fight in the Revolution. I will be happy to fight again today if necessary to protect your freedoms and Constitutional rights. If you choose not to stand with me, I suppose that is your right.
"It's an attempt by the US authorities to recover an estimated $100bn a year in unpaid taxes on US citizens' assets overseas. Unlike other countries, Americans are taxed not only as residents of the US but also as citizens, wherever they live."
How are you going to cope with the new FACTA law beginning July 1, 2014? No matter where you go, the US government is there to tormant you. This law is so intrusive. It seems that banks in Switzerland and Singapore are making it difficult for US citizens to keep or even open new accounts. I think one way to avoid issues is to use banks with no business interest in the US.
“How are you going to cope with the new FACTA law beginning July 1, 2014?”
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I am not worried. I never have more then a few thousand dollars in the bank at any given time.
I suppose a day may come that they will tax my social security, but I am not shaking in my boots.
I have not filled a a tax return in over 15 years.
Another joy of not being in the states, is that my cost of living here, or even when in central Europe, has been a small fraction of cost in the USSA. I have a fine life on $1000 per month.
From what I hear, one in the US needs to rake in $100,000 per year, just to keep up a middle class life.
My main accounts are still in the states, but the bulk was placed into a "family trust". I don't need much these days, and my grandchildren can get a head start on education and/or houses! The tax code helped me make that decision!
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