Yet I would expect that as the number of expatriates continue to grow, this exit tax will become more and more onerous as the government tries to trap people, and their wealth, in the country.
Published on Zero Hedge (http://www.zerohedge.com)
Americans Renouncing Citizenship Surge 66%
By Tyler Durden
Created 08/08/2013 - 15:40
A massive 1,131 individuals renounced their US citizenship last quarter, according to data that has yet to be officially released (though we were able to procure an advanced copy [1]). This is a huge jump. Compared to the same quarter last year in which 188 people renounced their US citizenship, this year's number is over six times higher. Not to mention, it's 66.5% higher than last quarter's 679 renunciations. This brings the total number of renunciations so far this year to 1,810. While still embryonic, it's difficult to ignore this trend– more and more people are starting to renounce their US citizenship.
Links:
[1] https://s3.amazonaws.com/public-inspection.federalregister.gov/2013-19224.pdf
[1] https://s3.amazonaws.com/public-inspection.federalregister.gov/2013-19224.pdf
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