FATCA is working!

by Walter Olson on February 20, 2014

The number of Americans who’ve turned in their passports and renounced citizenship has increased more than tenfold in five years, to 3,000 in calendar 2013. [USA Today] Earlier on the burdensome expatriate tax and regulation measure here, here, here, and generally here.

{ 3 comments }

1 Suzanne Lucas--Evil HR Lady 02.20.14 at 10:43 am

As an American living abroad, the taxes we face are super burdensome. Non-Americans are always shocked that I have to pay taxes in the US, even if I don’t step foot on US soil for the whole year.

We had to renew our son’s passport this past summer at the embassy. There was another woman there, renouncing her US citizenship.

I love my country, so I don’t know if I could ever renounce, but in just 7 years I’ll be eligible for a Swiss passport so…

2 DensityDuck 02.20.14 at 11:54 am

They told me that if I voted for Mitt Romney, Americans would flee the country in droves.

and they were right!

3 ras 02.20.14 at 6:20 pm

Not mentioned is the average income of the renouncers and the trendline (vis a vis income a.o.t. how many of them, I mean) on same. Given the top-heavy nature of US tax revenue, 3,000 might be a lot more significant than it sounds.

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