Tuesday, April 17, 2012

Time to say bye-bye

(Reuters) - A year ago, in Action Comics, Superman declared plans to renounce his U.S. citizenship.
"'Truth, justice, and the American way' - it's not enough anymore," the comic book superhero said, after both the Iranian and American governments criticized him for joining a peaceful anti-government protest in Tehran.
Last year, almost 1,800 people followed Superman's lead, renouncing their U.S. citizenship or handing in their Green Cards. That's a record number since the Internal Revenue Service began publishing a list of those who renounced in 1998. It's also almost eight times more than the number of citizens who renounced in 2008, and more than the total for 2007, 2008 and 2009 combined.
But not everyone's motivations are as lofty as Superman's. Many say they parted ways with America for tax reasons.
The United States is one of the only countries to tax its citizens on income earned while they're living abroad. And just as Americans stateside must file tax returns each April - this year, the deadline is Tuesday - an estimated 6.3 million U.S. citizens living abroad brace for what they describe as an even tougher process of reporting their income and foreign accounts to the IRS. For them, the deadline is June.
Read more HERE

*****

You think this is something, wait and see what happens when Obama gets serious about taxing the rich at an even higher rate.
The very wealthy are a notoriously international people. They don't give a fuck where they live and if they start getting robbed even more by the IRS, they'll pack their shit up, along with their businesses and leave for wherever.

1 comment:

Joel said...

You're more than welcome to come join my in the Philippines......no promises on CGD's safety though, anything with fur and four legs is fair game there at times.