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Title: More Americans Give Up Citizenship As IRS Gets Aggressive Overseas
Source: DOW JONES NEWSWIRES
URL Source: http://www.nasdaq.com/aspx/stock-ma ... s-irs-gets-aggressive-overseas
Published: Apr 5, 2010
Author: Martin Vaughan
Post Date: 2010-04-05 12:51:41 by Brian S
Keywords: None
Views: 737
Comments: 18

By Martin Vaughan, Of DOW JONES NEWSWIRES

The number of American citizens and green-card holders severing their ties with the U.S. soared in the latter part of 2009, amid looming U.S.36;tax increases and a more aggressive posture by the Internal36;Revenue36;Service towards Americans living overseas.

According to public records, just over 500 people worldwide renounced U.S. citizenship or permanent residency in the fourth quarter of 2009, the most recent period for which data are available. That is more people than have cut ties with the U.S. during all of 2007, and more than double the total expatriations in 2008.

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Begin Trace Mode for Comment # 10.

#1. To: Brian S (#0) (Edited)

"The tax itself is only a small part of the issue," the Swiss- based entrepreneur said. "It's the overall regulatory environment."

A minority of the recent expatriates are U.S. natives who have started a new life overseas. Most are people with family ties outside the U.S.: foreign professionals who acquired a green card while working in the U.S., or people who have received higher education in the U.S.

Why do the "wealthy" believe everything is supposed to be free?

war  posted on  2010-04-05   12:57:15 ET  Reply   Untrace   Trace   Private Reply  


#10. To: war (#1)

"The tax itself is only a small part of the issue," the Swiss-based entrepreneur said. "It's the overall regulatory environment."

Crap. If we had a more effective regulatory environment (and a little less greed) we wouldn't have had the meltdown we recently experienced. Does (not deer) anyone still believe that the financial sector can effectively regulate itself?

Suzanne  posted on  2010-04-05   13:49:00 ET  Reply   Untrace   Trace   Private Reply  


Replies to Comment # 10.

#12. To: Suzanne (#10)

. Does (not deer) anyone still believe that the financial sector can effectively regulate itself?

Not as long as they can skip off to some other country for protection.

mininggold  posted on  2010-04-05 14:02:33 ET  Reply   Untrace   Trace   Private Reply  


#13. To: Suzanne (#10)

Does (not deer)

(laughing)

...the financial sector can effectively regulate itself?

...as one who has worked in it for 25 years I've yet to know it to be the case...

war  posted on  2010-04-05 14:02:58 ET  Reply   Untrace   Trace   Private Reply  


End Trace Mode for Comment # 10.

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