Special Report: Tax time pushes some Americans to take a hike | Reuters
It is still just a trickle of people renouncing citizenship but the tide is growing. Every American citizen that lives offshore finds that they are increasingly being inundated by paperwork from a government starving for their money. One has to consider whether they are truly a free person or are considered the property of the US government.....
There's also an "exit tax" for the very rich who choose to leave. During the last 25 years, a number of millionaires and billionaires have renounced their citizenship. Among them: Ted Arison, the late founder of Carnival Cruises, and Michael Dingman, a former Ford Motor Co. director.Be careful about this government. It no longer understands its role within the lives of Americans and one day we may wake up and ask what the heck happened to our liberty....
But those of more modest means renounce, too. They say leaving America is about more than money; it's about privacy and red tape.
On April 7, 2011, Peter Dunn raised his right hand before a U.S. consular officer in Toronto and swore that he understood the consequences of giving up his U.S. citizenship. Dunn, a dual U.S.-Canadian citizen who has lived outside the United States since 1986, says he renounced because he felt American citizenship had become more of a liability than a privilege.
Special Report: Tax time pushes some Americans to take a hike | Reuters
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