Maybe America isn’t such a bad place to pay taxes after all.
The number of Americans renouncing their U.S. citizenship took a steep drop in the second quarter. Click here to read the details as reported by The Wall Street Journal.
As renunciations spiked in previous quarters, many observers attributed the increase to tax laws. Earlier this year, I profiled a man who renounced because of the tax burden the U.S. places on citizens living abroad. Click here to read it on MarketWatch.
Also, click here to read my previous take on the topic: “Tax Dodgers Are Proudly Un-Amercian.”
July 31, 2012
Al, please note that we believe that the government must be lying. The waiting times at consulates around the world has not diminished except at Bern where apparently they have added two staff members to handle the work load of those relinquishing their citizenship. Last years’ number (2011) lie was exceeded by Korean’s reporting that 2158 people relinquished citizenship and Green Cards. That is much more consistent with the information that we have. Korea has only two consulates. Canada has a eight. There has been a steady stream of people relinquishing in Canada and Switzerland. How can 189 be even close to correct? The answer is, this is an election year. Truth is dispensable. Please have a look at recent posts at isaacbrocksociety.ca.