4 ms·
This is one dumb article. Firstly it's only 1800 people. And secondly of course more people are going to renounce citizenship when the economy is bad versus 20
by taligent 15y ago
This is one dumb article.
Firstly it's only 1800 people. And secondly of course more people are going to renounce citizenship when the economy is bad versus 2008/9/10 when it was notably better.
- zmanji 15y agoDid you read the article? It relates the increase of people renouncing citizenship with the increased enforcement of IRS and legislation targeting foreign income. This has been a topic of discussion in Canada for some time now where there are many dual citizens. I think that it is insane that even if you have not earned any income in the USA for many years you still need to file a return or face insane penalties.
- stellar678 15y agoWhat world were you living in where the economy was notably better in 2008/9/10 than it was in 2011? I'll agree that 1800 is a number so small (three orders of magnitude smaller than the number establishing citizenship/permanent residency) that it's hardly worth a glance.
- GFKjunior 15y agoThe 'low points' of the economy were in 08-09. The bottom of the market was hit around Feb 09. I use quotes because I personally believe it is still really bad. On another note, does anyone on here have multiple passports? I do and consider it my last resort in case the US becomes a full blown police state.
- loverobots 15y agothe econ turns instantly horrible when you live in, say, South Korea and find out that you may owe a fortune to the IRS, just because your dad was /is a US citizen.
- nknight 15y agoIf I remember right, there are actually rules about that specific type of situation. If you've never lived in, had any substantial economic links to, or done anything that could be seen as claiming US citizenship, I believe you can renounce your citizenship and received a formal waiver of any tax liability.