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riverbendviewgal

(4,251 posts)
Mon Sep 8, 2014, 09:50 AM Sep 2014

Renouncing U.S. citizenship is about to get a lot more expensive

A good article..If you are thinking of leaving.

http://news.yahoo.com/renouncing-u-s--citizenship-is-about-to-get-a-lot-more-expensive-150405883.html


Most homelanders responded to the Exit Tax with the usual “don’t let the door hit you in the ass” routine. The politics of envy works well with the masses.

However, $2,350 for everyone may turn out to be the “tipping point” in public opinion because it hits Joe Six-pack right in the wallet if he is thinking about perhaps wanting to leave.

The comments are definitely worth reading, the $2,350 for expatriation (emigration) appears to be blowing back, especially when juxtaposed with the $680 for immigration.
Over 2400 comments.
For example:

“Doesn’t this make us prisoners?”

“People can’t easily leave their country but their jobs sure did.”

“Instead of changing the reasons why Americans are renouncing their US citizenship, the government is worried about making a profit on the deal. Wealthy business owners and entrepreneurs are leaving as the US continues it spiral downward, economically, socially and morally.”

“US Gov’t. employees looking to suck on the Citizens teat treat Americans like dogs on a lease. No matter where you go in the world and make some money there the IRS wants their cut to spend as haphazardly as they wish. No wonder more people are packing it in.”

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Renouncing U.S. citizenship is about to get a lot more expensive (Original Post) riverbendviewgal Sep 2014 OP
Why should the taxpayers subsidized the fee that now is being paid... Historic NY Sep 2014 #1
Imagine this for your experience riverbendviewgal Sep 2014 #2

Historic NY

(37,449 posts)
1. Why should the taxpayers subsidized the fee that now is being paid...
Mon Sep 8, 2014, 12:17 PM
Sep 2014

you want to go then pay for the priviledge.

riverbendviewgal

(4,251 posts)
2. Imagine this for your experience
Mon Sep 8, 2014, 04:44 PM
Sep 2014

your parents are studying or working in another country. You are born. They move back to the US states when you are a baby but you are a citizen of where you were born. forever Unless you renounce. You must file tax returns from that country .for 6 years and file a report of all you bank accounts.. and pay an exit tax of $2,350. plus a tax on your assets, including your home to the USA.

You never lived anywhere else but the USA since you moved back as a baby. You must pay taxes in the USA and the other country where you were born.. That is double taxation.

Would you like that? Would you say okay?

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