Giving up US citizenship

[Tigger]

An anonymous author has just published a free PDF guide for US citizens who want to (legally) take their life and wealth elsewhere.

Thought it might interest some people here.

 

[teejayevans]

Interesting, I assume you would lose your SS, but guide says that's not so.
But if you are trying to escape taxes, you still have to pay taxes on the SS
and your US investments.
TJ

 

[utrecht]

This is probably the biggest mistake a person can make in their lifetime. (Besides killing themselves).

 

[yakers]

I can understand this if one is going towards another country for a good reason like marrying and setting up life in another country and planning to leave the US permanently. But IMHO it is stupid to do so for financial issues. Not to mention that the US financial system is better than most foreign ones.

 

[W2R]

You won't see me waiting in line to give up my U.S. citizenship. I don't like taxes any more than the next person, but I'm not insane either.

 

[Leonidas]

My family has more than 3 1/2 centuries invested in this country - I'm not going to be the one to cause my ancestors to roll over in their graves.

 

[Westernskies]

I believe it sometimes takes an outside perspective to summarize an internal situation:

"A simple way to take measure of a country is to look
at.....how many want in.......and how many want to get out."
~Tony Blair

Many people desperately want to get into the US, but more telling is what they are willing to endure to get here.

Consider those that are willing to pack themselves into tractor-trailers and ride for hours in dangerous desert heat; they are willing to walk for hundreds of miles, led by brutal human smugglers who hold those who do not perish during the journey hostage in a drop house when they arrive at their destination; who are willing to load their families and life’s possessions onto flimsy rafts and risk shark-infested waters; all of them willing to risk everything for a chance at a better life here in the US.

And then consider those who babble on mindlessly about how badly they want to get out of this country; most notably Hollywood multi-millionaires like Barbra Streisand and Alec Baldwin. With their wealth (earned here) , they could leave this country at any time, travel wherever they want, and live wherever they want, in great luxury. Neither has yet to leave; they are still running their mouths instead of running the engines on their private jets.

My personal opinion is that whoever wants to leave; great. Go!- Don't let the door hit you in the a$$ on the way out. Renounce your citizenship, we don't want or need you back. Send all your like-minded friends a picture postcard when you get to where you are going.

I'm staying.

Rant over, we now return to our regularly scheduled programming.

 

[Tigger]

Consider those they are willing to pack themselves into tractor-trailers and ride for hours in dangerous desert heat; they are willing to walk for hundreds of miles, led by brutal human smugglers who hold those who do not perish during the journey hostage in a drop house when they arrive at their destination; who are willing to load their families and life’s possessions onto flimsy rafts and risk shark-infested waters; all of them willing to risk everything for a chance at a better life here in the US.

And then consider those who babble on mindlessly about how badly they want to get out of this country; most notably Hollywood multi-millionaires like Barbra Streisand and Alec Baldwin.

There's a striking difference between these two groups: one of them has little or nothing to lose, the other group has a lot to lose.

I'm not advocating leaving or staying. The USA is a great country and brought us many incredibly great things, like the internet! Just thought the info might be something that someone might be interested in.

 

[MichaelB]

[FONT=&quot]Did anyone actually read this crap? This makes the tinfoil beanie, guns and ammo crowd look good. [/FONT]

[FONT=&quot]Reasons to renounce your US citizenship. [/FONT]

[FONT=&quot]1) Freedom from the global U.S. tax net.[/FONT]
[FONT=&quot]2) Freedom from the death tax.[/FONT]
[FONT=&quot]3) Freedom from the U.S. government’s War on Solvency.[/FONT]
[FONT=&quot]4) Freedom from being treated like a “toxic citizen.”[/FONT]
[FONT=&quot]5) Freedom from the paperwork prison.[/FONT]
[FONT=&quot]6) Freedom to invest without tax distortions that encourage capital misallocation.[/FONT]
[FONT=&quot]7) Freedom from being crushed by the fiat currency landslide.[/FONT]
[FONT=&quot]8) Freedom from the accountability for how the U.S. government spends your money.[/FONT]
[FONT=&quot]9) Freedom to radically increase your charitable giving.[/FONT]
[FONT=&quot]10) Freedom from the risk of getting trapped.[/FONT]


[FONT=&quot]Then, where to go. Two recommendations.[/FONT]

Citizens of both St. Kitts-Nevis and Dominica enjoy freedom from income tax, corporate tax, capital gains tax, and any other taxes on all assets and income originating outside each respective country. Also, neither nation charges its citizens death tax.

This is a joke. Sorry for the harsh reaction but it really is a load of , well, bull manure.

 

[yakers]

"Did anyone actually read this crap? "

No, I responded without reading it and it looks worse when you post some of the text. anyone who wants to go for those reasons plezzzze go, in fact let me know how I can help.

 

[MichaelB]

anyone who wants to go for those reasons plezzzze go, in fact let me know how I can help.

I second the motion.

Note to Tigger - I do not mean to criticize you or your posting of the link. My commentary was directed at the author - "A Former US Citizen".

Note to "A Former US Citizen". If you're reading this: Good riddance!

 

[calmloki]

Considered leaving the US some years ago. After reading more and more about NZ (my fantasy of choice) I decided Oregon USA still had the strong advantage for me. May not be the best in everything, but in balance, hard to come close.

 

[youbet]

Note to "A Former US Citizen". If you're reading this: Good riddance!

There ya go.......

Whether as a protest in the 60's, a political statement ref some election outcomes in the past decade or folks making their "points" today, this leave the country talk is pure, ignorant BS.

 

[Purron]

I love my county and would never, ever consider giving up my US citizenship. It's more precious that gold.

I do, however, reserve the right to gripe about stuff. That doesn't mean I don't love the USA. In fact, because I love this country so much, I want to work to make it a better place for all of us. Yes, I realize my ideals don't mirror everyone else's. However, I believe when people of different frames of mind make an effort the end result is better. That's what makes this country great. Freedom to disagree. Finding common ground. Taking into account diverse opinions and making it all work somehow. I am proud to be an American.

 

[WhoDaresWins]

My U.S. citizenship is my most valued possession. I breathe a huge sigh of relief as a second generation American that my grandparents had the grit to leave Europe where opportunities for advancement in life for people of their standing were sparse to non-existent in the early 1900's.

 

[Westernskies]

I love my county and would never, ever consider giving up my US citizenship. It's more precious that gold.

I do, however, reserve the right to gripe about stuff. That doesn't mean I don't love the USA. In fact, because I love this country so much, I want to work to make it a better place for all of us. Yes, I realize my ideals don't mirror everyone else's. However, I believe when people of different frames of mind make an effort the end result is better. That's what makes this country great. Freedom to disagree. Finding common ground. Taking into account diverse opinions and making it all work somehow. I am proud to be an American.

Purron, well put. We disagree about a lot of things, but I'm proud to stand beside you as a fellow American.

 

[IndependentlyPoor]

I am pleased to report that the IRS has taken steps to make it harder for folks (particularly high-income folks) to renounce their citizenship to avoid taxes
Expatriation Tax

 

[Tigger]

Related NY Times article with examples of people for who it actually seems to make sense.

 

[growing_older]

I'm pretty thoroughly assimilated in the US and consider myself and my kids thoroughly American. My grandparents' generation managed to send their eldest child alone and penniless to the new world as a teen. Hard work and family ties allowed the rest of them to follow some years later. My parents were the first to complete formal education including college. I was expected to graduate college, attend graduate school if I wanted, choose any profession to my liking and enjoy all the great freedoms we have here. I have so much and sometimes take a lot for granted. One of my freedoms is to complain about anything here I don't like. There's no way in the world I would give up the citizenship that was so hard won by my ancestors, defended by my parents and grandparents generations, and still the envy of most of the world. I will happily defend your right to say whatever foolish thing you want without reprisal and even allow you to "opt out" of the greatest political experiment and most successful incarnation of freedom in the history of the world. I think ex-pat retirees are great adventurers and glad they have a lifestyle they enjoy. Even if I one day join their world globe trotting ways, there's no way I'm giving up my citizenship.

 

[antmary]

A few years ago I went to Brazil. I was shocked by the profound disparity between the few wealthy individuals and those in poverty. There were roadside stands, like a giant flea market. Those people didn't have homes. There were shacks in back where they strung up a hammock every night. Crime is reportedly rampant in the cities.

I remember the customs agent who said, "Welcome home" after I went through the processing. I was so happy to be home! I didn't realize how much I dearly love this country, with all the blemishes. It was like returning to a loud, boisterous family that constantly argues, makes up, etc. yet is so alive! Whatever our disagreements, I will always remember the generations who sacrificed for me to enjoy this wonderful life.

 

[Purron]

It was like returning to a loud, boisterous family that constantly argues, makes up, etc. yet is so alive!

Reminds me a bit of this forum sometimes.

 

[Westernskies]

Reminds me a bit of this forum sometimes:

 

[Purron]

Reminds me a bit of this forum sometimes:

Who ARE those peeps WS? Don't watch much TV these days so I must have missed this somehow. Yup, still stuck back in the days of Star Trek, Mary Tyler Moore, and Seinfeld

 

[kumquat]

I love my county and would never, ever consider giving up my US citizenship. It's more precious that gold.

I do, however, reserve the right to gripe about stuff. That doesn't mean I don't love the USA. In fact, because I love this country so much, I want to work to make it a better place for all of us. Yes, I realize my ideals don't mirror everyone else's. However, I believe when people of different frames of mind make an effort the end result is better. That's what makes this country great. Freedom to disagree. Finding common ground. Taking into account diverse opinions and making it all work somehow. I am proud to be an American.

One of my friends renounced his citizenship in the USA. I don't blame him. Back in the sixties, [-]his[/-] the American government told him "We have a job for you to do". He went to South-East Asia and did it. When he returned, he was spat on and called a 'baby-killer' by the people he he went to 'serve'. Employers shunned him so to get a job he came north. The 'people' he served (and who wouldn't hire him after) demanded tax returns. When he became eligible for citizenship here, his attitude was "USA can KMA".

YMMV.

 

[utrecht]

Your friend wasn't called a baby killer by the people he went to serve. He was called a baby killer by a small percentage of idiots who had no concept of reality. Cops go through a similar thing on a smaller scale on a regular basis. People cuss at them, spit on them,and throw bottles at them by a small percentage of people who cant stand authority. That doesn't mean everyone hates cops.