Record Number Of Americans Renouncing Citizenship
Click here for reuse options!There are 776 names on the Treasury Department list published Friday for the third quarter of 2014.
That’s the third highest quarterly figure ever, according to Andrew Mitchel, an international tax lawyer in Centerbrook, Conn., who tracks the data. The total number of published renouncers so far in 2014 is 2,353, putting this year on pace to exceed last year’s record total of 2,999, adds Mr. Mitchel…
Experts say that the growing number of renunciations by U.S. citizens and permanent residents is linked to a five-year enforcement campaign against U.S. taxpayers who have undeclared offshore accounts. The campaign began after Swiss banking giant UBS …admitted in 2009 that it had systematically encouraged U.S. taxpayers to hide assets in secret Swiss accounts.Unlike other developed nations, the U.S. taxes citizens on income they earn anywhere in the world. The rule dates to the Civil War. U.S. tax liabilities can also cover children born to Americans abroad, extending the reach of the Internal Revenue Service across generations as well as oceans. There are only partial offsets for double taxation for people who owe taxes both to the U.S. and a foreign country, and the reporting rules are onerous, experts say.
Copyright 2014 Liberaland
OldLefty October 25th, 2014 at 17:17
Bye, now, Buh Bye!
rg9rts October 25th, 2014 at 17:31
I think AMF is a better term
OldLefty October 25th, 2014 at 17:47
What is AMF??
tiredoftea October 25th, 2014 at 17:52
Read it and weep:
http://www.urbandictionary.com/define.php?term=AMF
OldLefty October 25th, 2014 at 18:19
Ok.
Then I agree.
Larry Schmitt October 25th, 2014 at 18:50
Adios, MF’er? Just took a guess without looking it up.
OldLefty October 25th, 2014 at 17:17
Bye, now, Buh Bye!
rg9rts October 25th, 2014 at 17:31
I think AMF is a better term
OldLefty October 25th, 2014 at 17:47
What is AMF??
tiredoftea October 25th, 2014 at 17:52
Read it and weep:
http://www.urbandictionary.com/define.php?term=AMF
OldLefty October 25th, 2014 at 18:19
Ok.
Then I agree.
Larry Schmitt October 25th, 2014 at 18:50
Adios, MF’er? Just took a guess without looking it up. I know it’s not the bowling equipment maker.
Republicans_are_Evil October 25th, 2014 at 17:21
Less votes for Republicans is a good thing.
Dwendt44 October 25th, 2014 at 20:50
There are plenty of delusional poor rednecks and other low effort thinkers to take their place however.
Republicans_are_Evil October 25th, 2014 at 20:54
One at a time.
Republicans_are_Evil October 25th, 2014 at 17:21
Less votes for Republicans is a good thing.
Dwendt44 October 25th, 2014 at 20:50
There are plenty of delusional poor rednecks and other low effort thinkers to take their place however.
Republicans_are_Evil October 25th, 2014 at 20:54
One at a time.
rg9rts October 25th, 2014 at 17:25
Mobil Exxon, General Electric, IBM, Haliburton…well corporations are people too Right??
StoneyCurtisll October 25th, 2014 at 17:27
Yes, “my friend”..:)
Larry Schmitt October 25th, 2014 at 18:49
He will never live that down.
rg9rts October 25th, 2014 at 17:25
Mobil Exxon, General Electric, IBM, Haliburton…well corporations are people too Right??
StoneyCurtisll October 25th, 2014 at 17:27
Yes, “my friend”..:)
Larry Schmitt October 25th, 2014 at 18:49
He will never live that down.
StoneyCurtisll October 25th, 2014 at 17:26
This is all they have to do to avoid paying taxes? (renounce citizenship)..
What are all those Obama hating Teabaggers waiting for?
rg9rts October 25th, 2014 at 17:30
Baggers are wannabe off shore account holders…most are poor enough for SNAP but deny themselves in the name of pride…
StoneyCurtisll October 25th, 2014 at 17:41
Correct sir~!
Annie October 25th, 2014 at 19:51
And denial
StoneyCurtisll October 25th, 2014 at 17:26
This is all they have to do to avoid paying taxes? (renounce citizenship)..
What are all those Obama hating Teabaggers waiting for?
rg9rts October 25th, 2014 at 17:30
Baggers are wannabe off shore account holders…most are poor enough for SNAP but deny themselves in the name of pride…
StoneyCurtisll October 25th, 2014 at 17:41
Correct sir~!
Annie October 25th, 2014 at 19:51
And denial and wishful thinking
arc99 October 25th, 2014 at 17:27
I would find it interesting to determine how many of these citizenship renouncers are living in countries with mandatory universal health care.
Fascinating question. Does universal health care mean lower taxes? Apparently the rest of the world says yes.
fahvel October 26th, 2014 at 03:55
I would guess that unless they want to live in a muck hole they all live in fine socialized western european countries. There’s lots of them in germany and italy and spain – france, not so many.
KABoink_after_wingnut_hacker October 25th, 2014 at 17:27
Now that’s patriotism from the right wing perspective. Fuck y’all…..I got mine.
arc99 October 25th, 2014 at 17:27
I would find it interesting to determine how many of these citizenship renouncers are living in countries with mandatory universal health care.
Fascinating question. Does universal health care mean lower taxes? Apparently the rest of the world says yes.
fahvel October 26th, 2014 at 03:55
I would guess that unless they want to live in a muck hole they all live in fine socialized western european countries. There’s lots of them in germany and italy and spain – france, not so many.
tiredoftea October 25th, 2014 at 17:53
Boy, are they going to be surprised with their tax bill before they can turn in their passports!
tiredoftea October 25th, 2014 at 17:53
Boy, are they going to be surprised with their tax bill before they can turn in their passports!
mea_mark October 25th, 2014 at 18:15
A lot of these people have never been in the United States and hold dual citizenship. They are renouncing US citizenship because the US wants to impose a bunch of financial restrictions and excessive fees on them. I don’t blame them, when they wrote FATCA and the rules they didn’t think about how much harm they were going to do average people living abroad. It was a poorly written law that was meant to catch the big tax cheats but is abusing normal law abiding people and forcing them to renounce citizenship to avoid costly fees that only they have to pay because they live abroad. Essentially it is taxation without representation and there is no way to fight it living abroad so they are saying we don’t want dual citizenship anymore.
Larry Schmitt October 25th, 2014 at 18:47
And of course the really big dollar cheats still find a way out of paying their taxes.
Johnl.102 October 25th, 2014 at 20:19
I don’t blame them either if the don’t live here or work here. Its the ones that made all there money here and now don’t want to pay. F*ck them . traitors!
tracey marie October 25th, 2014 at 21:26
why would anyone have a duel citizenship when they are American…oh right the cruz family
mea_mark October 25th, 2014 at 18:15
A lot of these people have never been in the United States and hold dual citizenship. They are renouncing US citizenship because the US wants to impose a bunch of financial restrictions and excessive fees on them. I don’t blame them, when they wrote FATCA and the rules they didn’t think about how much harm they were going to do average people living abroad. It was a poorly written law that was meant to catch the big tax cheats but is abusing normal law abiding people and forcing them to renounce citizenship to avoid costly fees that only they have to pay because they live abroad. Essentially it is taxation without representation and there is no way to fight it living abroad so they are saying we don’t want dual citizenship anymore.
Larry Schmitt October 25th, 2014 at 18:47
And of course the really big dollar cheats still find a way out of paying their taxes.
Johnl.102 October 25th, 2014 at 20:19
I don’t blame them either if the don’t live here or work here. Its the ones that made all there money here and now don’t want to pay. F*ck them . traitors!
tracey marie October 25th, 2014 at 21:26
why would anyone have a duel citizenship when they are American…oh right the cruz family
Rudewaitress October 25th, 2014 at 20:42
There is trillions over seas that not one damn cent has been paid in taxes..it is exactly why the country is taking a shit…the rich control all the money…that is why they always talk about how great Ayn Rand was…A communist atheist…that hater Social Security and thought anything goes to make money..She died broke and on Social Security and Medicare…They all think the same…I got mine and screw you!!!
Rudewaitress October 25th, 2014 at 20:42
There is trillions over seas that not one damn cent has been paid in taxes..it is exactly why the country is taking a shit…the rich control all the money…that is why they always talk about how great Ayn Rand was…A communist atheist…that hater Social Security and thought anything goes to make money..She died broke and on Social Security and Medicare…They all think the same…I got mine and screw you!!!
tracey marie October 25th, 2014 at 21:24
Wealthy people do not want to contribute to The American economy because they are just so special. deport them and let’s see how they like socialized medicine and higher European taxes. Hell deport the teabaggers with them since both groups hate the USA
Larry Schmitt October 25th, 2014 at 21:26
Because if they pay taxes, they won’t be able to create all those jobs. Wait, why are you laughing? I was serious.
tracey marie October 25th, 2014 at 21:27
good one
fahvel October 26th, 2014 at 03:51
before you talk about socialized medicine and euro taxes, may I suggest you know what you are talking about.
tracey marie October 25th, 2014 at 21:24
Wealthy people do not want to contribute to The American economy because they are just so special. deport them and let’s see how they like socialized medicine and higher European taxes. Hell deport the teabaggers with them since both groups hate the USA
Larry Schmitt October 25th, 2014 at 21:26
Because if they pay taxes, they won’t be able to create all those jobs. Wait, why are you laughing? I was serious.
tracey marie October 25th, 2014 at 21:27
good one
fahvel October 26th, 2014 at 03:51
before you talk about socialized medicine and euro taxes, may I suggest you know what you are talking about.
Larry Schmitt October 25th, 2014 at 21:45
This is what a woman posted on another Disqus site: “Don’t believe the GOP hates the poor/women hype. I am a poor female Republican and they like me just fine.” I didn’t bother asking her how she liked them repeatedly trying to cut her SNAP benefits, and her kids’ school lunches, and her unemployment insurance. Another person voting against her own interests.
Tammy Minton Haley October 26th, 2014 at 00:00
or a “plant”…just like the stock photo ads, the photo-shopped black faces, and the fake “Obamacare” horror stories…
republicans are liars…they cheat, they lie, they steal….
fancypants October 26th, 2014 at 03:35
keep in mind she’s a republican ….Everything after that is most likely hanging off a fishing hook & waiting for you to bite.