Growing liability of being a citizen of the U.S.

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benjamen said:
http://finance.yahoo.com/news/more-taxpayers-abandoning-u-181500097.html

"This year will set a record for expatriations by U.S. taxpayers, with at least a 33% increase from the previous high in 2011."

"...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..."

:popcorn:
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Buying citizenship: Which nations are affordable?

http://www.cnbc.com/id/101198433

St. Kitts is looking like a pretty good deal right now .:D
 
I read the article, yet I do not believe I would be better off on Antigua or anywhere else in the Caribbean. I lived and worked on Antigua Auxiliary Airfield for over a year, and let me tell you that it was no picnic. Antigua is a third world nation with high crime and overpopulation. They also hate white people.

Most of the Caribbean basin is in the same boat. The islands are grossly overpopulated and cannot "carry" their populations without significant external support on nearly every level. A few years back I took my family on a 10 day break to Barbados at Christmas time. The island was beautiful and the weather was perfect, but again, if the external flow of goods and money ever stops it will be lord of the flies time.

The only island I have been to that could possibly support [carrying capacity] their population is maybe Trinidad and Tobago. Even there, the population density is heavy and they have no particular love of white Europeans. Remember, most of these nations are only two generations away from colony status so there are deep seated feelings that have not mellowed out yet.

The grass is always greener on the other side of the fence, and for those thinking about expatriating, I would put a hell of a lot of thought in to it before you go. Will the local population take exception to a foreigner in their midst? Will you be taking a job away from a local? Do you have enough money to be self sufficient?

I have traveled to a great number of countries in my life and I have lived on three continents. I will say with absolute certainty that the time to leave was twenty five years ago. The attitude of the world has changed in fundamental ways since the days of Reagan, and not in a good way. The world now has a poor view of Americans that will be hard to shake. The hitch hiking I did across Europe in 1985 would not be possible today. Camping out in the Spanish countryside would not be possible today, or at least not nearly as safe as it once was. You can no longer walk safely through the souks in Egypt without an automatic weapon.

I think I will have to stay here and ride this one out. Maybe Little Ancona will find it easier sometime in the future.
 
ancona said:
I read the article, yet I do not believe I would be better off on Antigua or anywhere else in the Caribbean. I lived and worked on Antigua Auxiliary Airfield for over a year, and let me tell you that it was no picnic. Antigua is a third world nation with high crime and overpopulation. They also hate white people.

Most of the Caribbean basin is in the same boat. The islands are grossly overpopulated and cannot "carry" their populations without significant external support on nearly every level. A few years back I took my family on a 10 day break to Barbados at Christmas time. The island was beautiful and the weather was perfect, but again, if the external flow of goods and money ever stops it will be lord of the flies time.

The only island I have been to that could possibly support [carrying capacity] their population is maybe Trinidad and Tobago. Even there, the population density is heavy and they have no particular love of white Europeans. Remember, most of these nations are only two generations away from colony status so there are deep seated feelings that have not mellowed out yet.

The grass is always greener on the other side of the fence, and for those thinking about expatriating, I would put a hell of a lot of thought in to it before you go. Will the local population take exception to a foreigner in their midst? Will you be taking a job away from a local? Do you have enough money to be self sufficient?

I have traveled to a great number of countries in my life and I have lived on three continents. I will say with absolute certainty that the time to leave was twenty five years ago. The attitude of the world has changed in fundamental ways since the days of Reagan, and not in a good way. The world now has a poor view of Americans that will be hard to shake. The hitch hiking I did across Europe in 1985 would not be possible today. Camping out in the Spanish countryside would not be possible today, or at least not nearly as safe as it once was. You can no longer walk safely through the souks in Egypt without an automatic weapon.

I think I will have to stay here and ride this one out. Maybe Little Ancona will find it easier sometime in the future.
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mam, I sooo agree with you. Bought land in Pagadian City 15-20 years ago (can't remember when we bought it) but we are surrounded by families land, still it has gotten so bad there we don't even have an illusion of living there. The last time we were there the rest of my family was going up into the mountains to Bayog where Bing and I went on our "honeymoon" 20 years ago, and Bing stopped me and said "you can't go". When I asked her why, she was very frank "they'll kill you". We'll be riding it our here, I'm sure. We've gone back and forth to the Philippines for a while now, and each trip is more difficult and more expensive (from 600 dollar round trip ticket to 1700 round trip). And the thing is, if my child was starving, I'm sure I'd feel the same way.
 
Taxation before loss of representation.
 
Soon enough they will make it illegal to renounce your citizenship. They will institute a program within which you can pay a fine, maybe 10% of your net wages for official permission to live and work in another country.
 
I can't say that I blame them. Ours is the only large government that demands a pound of flesh from citizens that neither live in the US, nor use any of the services provided through taxation.
 
Agreed. Financial consequences and a mountain of pain in the rear paperwork will eventually outweigh patriotism and nostalgia.

For those who are in a fairly stable situation in a nice country, like living in an English speaking country while married to a native, it can be a pretty clear decision.



Or you could bug out to Liberia. You'll have the whole place to yourself pretty soon and all the bushmeat you can eat!:banana:
 
Yet another record:
http://finance.yahoo.com/news/recor...or-long-term-residency-in-2014-183139878.html

"A record 3,415 individuals renounced their U.S. citizenship or long-term residency in 2014"

"The 2014 number was up 14% from 2,999 individuals in 2013, which was also a record."

"According to a recent survey of 1,546 U.S. citizens and former citizens living abroad, 31% of participants have actively considered renouncing their U.S. citizenship and 3% are in the process of doing so. Many who were considering the move cited increasingly onerous and intrusive financial reporting requirements."
 
I've been saying for many years Rome is falling (it didn't fall in a day either) and it looks like the rats are fleeing the sinking ship. May be time to redouble efforts of stacking all kinds of stuff.
 
... the number of published expatriates for 4Q 2016 was 2,365, bringing the total number for 2016 to 5,411, setting a new all-time quarterly and annual record. By comparison, the number of expatriates for 2016 reflects a 26% increase over 2015 and a 58% increase over 2014 (3,415).
...
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2017.02.09%20-%20Expats%202_0.JPG


http://www.zerohedge.com/news/2017-...-forfeit-citizenship-prospect-tax-relief-dims
 
it sounds good when considered on a %age increase but these numbers are so small as a %age of the total US population it amazes me they get reported at all ......
 
Yeah, I actually am surprised at how low the number is given the size of the US expat population working abroad.
 
Jay said:
mam, I sooo agree with you. Bought land in Pagadian City 15-20 years ago (can't remember when we bought it) but we are surrounded by families land, still it has gotten so bad there we don't even have an illusion of living there. The last time we were there the rest of my family was going up into the mountains to Bayog where Bing and I went on our "honeymoon" 20 years ago, and Bing stopped me and said "you can't go". When I asked her why, she was very frank "they'll kill you". We'll be riding it our here, I'm sure. We've gone back and forth to the Philippines for a while now, and each trip is more difficult and more expensive (from 600 dollar round trip ticket to 1700 round trip). And the thing is, if my child was starving, I'm sure I'd feel the same way.
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went home last month for a month, now under martial law.
 
Good to see you are still with us Jay. Sorry to hear that things have not improved over there. Bugging out ain't easy!
 
Very few places outside of the U.S. entice me to leave here. I did like the climate description of Port Moresby But I think it's too crowded for me, & not sure about the gun laws there. New Zealand's south island sounds pretty decent to me, and from what I've seen & read, they're fairly close to the U.S. in what they allow for firearms. Just don't know if I could make that move, or any out of country move, certainly not without being pretty much independently wealthy. I have found myself pondering these moves a lot more in the last 8 or 9 years though.
 
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Ever since seeing the see film 'Lord of The Rings' Ive dreamed of living in South Island NZ.

Lots of dirt roads ( and they drive on the left )
Fabulous mountains and fjords
Limited to no building control in the boonies
They speak English
And the highest per capita ownership of diggers of any country !

Its just that Im having too much fun in Blighty otherwise I would try and sneak in.

Think I could blag it as a Vicar or summat as over a certain age they don't let you stay ...
 
NEW YORK, Aug. 6, 2020 /PRNewswire/ -- Americans are continuing to renounce their citizenship at the highest levels on record, according to research by the Enrolled Agents and accountants Bambridge Accountants New York.

Record levels of US citizens renouncing
  • 5,816 Americans gave up their citizenship in the first six months of 2020
  • Showing a 1,210% increase on the prior six months to December 2019, where only 444 cases were recorded
  • 2,072 Americans gave up their citizenship in 2019 in total
  • This is the second highest quarter on record; the record is 2,909 cases for the first quarter of 2020
  • It seems that the pandemic has motivated U.S. expats to cut ties and avoid the current political climate and onerous tax reporting

Americans must pay a $2,350 government fee to renounce their citizenship, and those based overseas must do so in person at the U.S. Embassy in their country.

There are an estimated 9 million U.S. expats. The trend has been that there has been a steep decline over the last few years of U.S. citizens expatriating - the first six months of 2020 is a huge increase in the number of Americans renouncing their citizenship.

Under the IRS rules (section 6039g), every three months the U.S. Government publishes the names of all Americans who give up their citizenship. The first six months for 2020 had 5,816 Americans renouncing their citizenship, far more than the total of the four quarters for 2019 (2,072 Americans renounced).

Alistair Bambridge, partner at Bambridge Accountants New York, explains: "There has been a huge turnaround during coronavirus of U.S. expats renouncing, where the figures have been in steep decline since 2017.
...
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www.prnewswire.com

Americans Continue Giving Up Citizenship at Record Levels Reports Bambridge Accountants New York

/PRNewswire/ -- Americans are continuing to renounce their citizenship at the highest levels on record, according to research by the Enrolled Agents and...
www.prnewswire.com www.prnewswire.com

More citizens have renounced in 6 months of 2020 than all of 2016 (which was a record year at the time).
 
Interestingly, US News and World report claims the reason for the record renunciations is FATCA:

...
In fact, most Americans giving up their U.S. passport already live abroad and hold another citizenship. In surveys and testimonials, these people say they're dropping their U.S. citizenship because American anti-money laundering and counter-terrorism regulations make it too onerous and expensive to keep.
...
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More: https://www.usnews.com/news/best-co...s-renouncing-us-citizenship-in-record-numbers
 
Out of 330 million thats an incredibly small number
kinda 1 in 55,000
Every time I see one of these articles about the flood of US Citizens renouncing their citizenship, I cant help wondering wtf they are on about ........
 
Try Thailand, Philippines, Panama, Uruguay, and Portugal to relocate. You can get an apartment in Bangkok for $500 month and slow travel across Asia from there.
 
rblong2us said:
Out of 330 million thats an incredibly small number
kinda 1 in 55,000
Every time I see one of these articles about the flood of US Citizens renouncing their citizenship, I cant help wondering wtf they are on about ........
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They left out the word "relative".

As in, the number of renunciations of citizenship today is very high relative to the historic norms.
 
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