More Americans are renouncing their citizenship

[mojaveman]

Record numbers of Americans living abroad renounce U.S. citizenship over IRS reporting requirements.

http://finance.yahoo.com/news/expatr...030800706.html

[NurseTim]

Renounce citizenship over money? Pass. I hate the tax system as it exsists and consider the irs a terrorist organization, but renounce my citizenship over it? Nope.

[uplink5]

Originally Posted by mojaveman

Record numbers of Americans living abroad renounce U.S. citizenship over IRS reporting requirements.

http://finance.yahoo.com/news/expatr...030800706.html

Just think, if all the illegal Mexican immigrants in The US had stayed in Mexico, what kind of changes could there be. Is it any wonder that their own government has helped millions of "undesirables" get here? Same with the current situation on our southern border now. Send the new arrivals home and let them fix the problems there. Don't bring them here!

People unhappy with the status quo here, need to stay and be part of the solution. Not run like frightened children.....

[BrokenSwitch]

Seems like it's mostly an issue of being aware of tax law.

As a citizen of Israel as well as the US, I do not have enough money in my Israeli bank account to justify filing an FBAR for the previous year, but next year I will probably have to file, even if I end up not owing anything.

Another thing to be aware of, regarding tax law, is that Americans living abroad in countries with higher taxes (allegedly, Israel is one of those countries) may have their foreign taxes counted as credit against their American taxes, and may even be eligible to receive money from the IRS if their home-country taxes exceed their American taxes.

Bottom line: Educate yourself before you make a decision.

[Utah Bob]

Originally Posted by uplink5

Just think, if all the illegal Mexican immigrants in The US had stayed in Mexico, what kind of changes could there be. Is it any wonder that their own government has helped millions of "undesirables" get here? Same with the current situation on our southern border now. Send the new arrivals home and let them fix the problems there. Don't bring them here!

People unhappy with the status quo here, need to stay and be part of the solution. Not run like frightened children.....

Let em go. We don't need people with so little courage.
The true patriots will stay as they always have.

Originally Posted by NurseTim

Renounce citizenship over money? Pass. I hate the tax system as it exsists and consider the irs a terrorist organization, but renounce my citizenship over it? Nope.

OK, but you aren't living abroad!

[ddoering]

You can learn alot from rats. They don't desert a viable ship.

[NurseTim]

Originally Posted by WCH

OK, but you aren't living abroad!

I have and will again, maybe sooner than I think.