More American Expatriates Give Up Citizenship
Amid mounting frustration over taxation and banking problems, small but growing numbers of overseas Americans are taking the weighty step of renouncing their citizenship.
235 Americans gave up their citizenship in 2008. 743 Americans gave up their citizenship in 2009.
Gee. I wonder what the United States is doing that is so encouraging American citizens to give up their citizenship?
Do you think it could be the double taxation of their income? Do you think it could be the 50 percent penalty if they make a mistake on their income tax return? Do you think it could be the inability to have an American bank account? Do you think it could be continuing erosion of their freedom? Do you think it could be increasing control of the individuals' day to day life? Do you think it could be the increasing socialization of the United States? Could it be the massive welfare spending that will bankrupt the United States in the near future?
This is just some of what American citizens living abroad have to face.
If you are an American citizen living in the United States and you decide that you want to try living abroad, you may now face a 100 percent penalty on your income.
Does this sound like a freedom loving democracy to you?
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