"In 2013, 2,999 Americans renounced their citizenship; in 2014 so far, it’s a little more than 1,500 people."
The population of the US in 2012 was about 314 million. So 0.000009% renounced their citizenship...
"In 2013, 2,999 Americans renounced their citizenship; in 2014 so far, it’s a little more than 1,500 people."
The population of the US in 2012 was about 314 million. So 0.000009% renounced their citizenship...
So it's hard to judge how big or meaningful this story is. But anecdotally, I too am in Canada and I have definitely been hearing a lot recently from American friends who are finding US citizenship to be a PITA because of taxes.
Remember, you don't get to just renounce. You have to petition the government for permission to have a hearing to renounce, and then you have to show up at this hearing -- in an embassy on foreign soil-- and give them reasons to let you renounce.
IF you say the wrong thing, they will not let you renounce.
The old adage "love it or leave it" forgets that we are, as far as the federal government is concerned, cattle, who can only wander off if we aren't too valuable. If you are worth several million, you will not be able to renounce without paying hefty taxes, and even then you probably need to rent some politicians with pull to influence the situation.
2. Are the numbers reported by the U.S. government accurate?
3. To the contrary, the annual expatriation numbers appear to be increasing.