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While the numbers provided are not in the millions, it's important to understand that the oft-cited numbers are also (thought) to be incomplete. Here is one exa
by jsoc815 8y ago
While the numbers provided are not in the millions, it's important to understand that the oft-cited numbers are also (thought) to be incomplete. Here is one example.[1] But I see the claim fairly regularly.
Also, the discussions often focus on people who renounce their U.S. citizenship, but I rarely, if ever, see any on people who relinquish. And while the result with respect to U.S. citizenship may end up being the same for both processes, I understand that the treatment of the former citizen is often different based on the option selected.
Lastly, while the numbers may be small, we don't know the value of the wealth that they are taking with them. Could be little or a lot. And while yes, there are exit taxes, people with enough to lose will expend some energy to not do so.
[1] https://www.forbes.com/sites/robertwood/2017/06/12/more-americans-renounce-citizenship-new-list-released/#a30b8f56fe95 https://www.forbes.com/sites/robertwood/2017/06/12/more-amer...