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Thread: Ameriicans Denouncing Citizenship

  1. #1

    Ameriicans Denouncing Citizenship

    Interesting article. Obama's Marxist tactics are having a effect.

    Americans Giving Up Passports Jump Sixfold as Tougher Rules Loom - Businessweek
    "Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin


  2. #2
    Quote Originally Posted by TopDogger View Post
    Interesting article. Obama's Marxist tactics are having a effect.

    Americans Giving Up Passports Jump Sixfold as Tougher Rules Loom - Businessweek
    You have to look for the 2010 Foreign Account Tax Compliance Act (FATCA), interesting that the US permanent residents have the same US citizen tax regime from overseas incomes. According to wiki, if you make more than $50,000 overseas and pay income tax in the overseas country, you have to pay also a tax here in US. I have some hard time to think that $50,000 earned overseas is considered like tax evasion, compared to millionaires who put their money in fiscal paradises but that's just me.

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