American Expatriates Giving Up Citizenship for Lower Taxes


The Federal Register reports that more American expatriates are giving up their U.S. Citizenship or permanent residency status because of frustration over taxes and banking problems, the New York Times said.
The government publication that records this stuff shows that 502 expatriates gave up their citizenship in the last quarter of 2009, however, this is a small part of the 5.2 million American expatriates the State Department estimates live abroad.
A Chicago native living in Melbourne, Australia told Time that he loves his country and did not make the decision lightly of happily, but he felt he had no other choice. He was granted citizenship in Australia two years ago.
Cutting ties with America is an irrevocable action, and many expatriate advocate groups are encouraging citizens abroad to do so.

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This page contains a single entry by brayx063 published on April 25, 2010 3:42 PM.

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