Not a terrible surprise

From MSN Money:

More Americans are renouncing their citizenship

An IRS tax-avoidance crackdown on people living abroad appears to be behind the recent spike.
By Jonathan Berr 3 hours ago

The number of Americans who have given up their citizenship soared sixfold in the second quarter as the government prepares to adopt more stringent disclosures for overseas assets, according to Bloomberg News.

Overall, the number is tiny — just 1,131 in the three months through June versus 189 in the year-earlier period — but it highlights the unease many expatriates are feeling about the Foreign Account Tax Compliance Act (FATCA), which requires them to disclose foreign assets in excess of $50,000 to the IRS. Financial institutions abroad must now provide the IRS with information about accounts held by U.S. taxpayers and foreign entities in which U.S. taxpayers hold a substantial ownership interest.

“The U.S., the only nation in the Organization for Economic Cooperation and Development that taxes citizens wherever they reside, is searching for tax cheats in offshore centers, including Switzerland, as the government tries to curb the budget deficit,” the news service says.

More at the link. But this is hardly a surprise. Americans living abroad long-term are primarily very well-to-do; they are being hit with higher taxes and increased federal efforts to collect those taxes, and receive far fewer government services from the United States. On top of that, they know that a major portion of their tax dollars is going to subsidize the lifestyles of people who will not work. WE don’t know how many of them are just trying to save money on taxes in general, and how many are simply disgusted at having to pay for the malingerers, the malcontents and the malefactors, but I’d guess that there are far more in the latter category than our Democratic friends would admit.

10 Comments

  1. I wonder what it would take to set up a new constitutional polity in some other geographical space. I imagine that the present governments of the world would do everything they could to sabotage it, if by some happenstance, a territory should become available. Nothing infuriates leftist moral garbage more than thinking that someone, somewhere, might escape beyond their grasp.

    Imagine just as an exercise, someone gaining access to another planet and saying that it is open for business but no client class or dependent types welcome.

    They’d have a fit even if they had nothing to do with its discovery or opening up.

  2. While we’re at it, and since I don’t feel like putting up a new post on TBD, there’s this little bit of news current: Down’s syndrome may be treatable.

    The reaction, astoundingly, only mildly positive.

    Get this remark: “On the other hand, it’s unclear what costs there may be to shutting down the mechanism that creates people who offer lessons in patience, kindness — and what it means to be human.

    Instead of cursing this astounding bit of masochism masquerading as humanism, I’m simply going to say that there is quite obviously a Grand Canyon-like chasm in human sensibilities and it simply doesn’t pay to share a political space with some people.

    Bear in mind that Trisomy is a clear defect. Bear in mind that no one is talking about gassing these people, nor even cutting off their social support nor aborting them. But like some medieval pervert chafing a maggot filled wound some people simply cannot stand to be well. They might lose something … yeah leave that sliver in the palm of your hand … it just feels so good to feel.

    Oh no! What will life be like when the mentally impaired are cured? Bring back small pox, and polio. Let’s spend, (waste really) billions on a cure for aids, so that people can yearn for those days when they felt more fully human with tubes up their noses and Kaposi’s lesions all over their bodies.

    “”If Down syndrome were completely cured, the world would lose something from the absence of that culture,” said Skotko, who has a sister with the condition. “There is something positive that people with Down syndrome contribute to the world.”

    ““When you go as far as a ‘cure,’ that’s when folks step back and go: ‘We’re not looking for a cure. We’re looking to help and support people with Down syndrome live healthy and productive lives,’” said Cevallos, mother of a 5-year-old with the condition. “

    They don’t want to be better, to be healed, to be independent. They want your attention, and demand your involvement. What the fnck … no wonder Obama is President of this effen insane asylum.

  3. Yes, surprise, surprise, ain’t human nature predictable? Independent individuals with substantial assets will act to protect those assets, and in the face of expanded efforts by a rapacious federal government to stick their greedy hands into the pockets of ex-patriots, our overseas brethren opt to renounce allegiance to a distant country they increasingly regard as controlled by sticky fingered socialist thieves.

    Reality based analysis might come to regard the decision of such individuals to dissolve the bonds which once connected them with the US, and to assume among the stateless peoples of the earth, a separate and equal station to which the Laws of Nature and of Nature’s God entitle them, as a responsible reaction to an illegal assault on their private property.

    Consequently, a decent respect to the opinions of their ex-brethren still imprisoned in that currently unhappy, but once free land, requires they should declare the causes which impel them to the separation.

    Their answer is Freedom, Liberty, and the right to remain outside the grasp of an alien ideology intent on reducing them to poverty and subjugation to the rules and regulations imposed by greedy unionized bureaucrats acting in direct opposition to the will of the people and to the laws of the land.

  4. You already burned that bridge, Hube.

    F*** you, Perry. You know nothing about it. Repeat: Nothing. I could go back there tomorrow and spend time with anyone I’ve know since college, including any relative.

    Now go back to slapping your wife around, the meek, pathetic wench that she is.

  5. Perry says:
    Monday, 12 August 2013 at 15:05

    You already burned that bridge, Hube.

    What does that mean Perry. No point of reference. And here you are with a moribund blog called bridging the gap.

  6. What does that mean Perry.

    He knows damn well what it means. What it means is Perry is full of complete bullshit when he whines about “personal attacks” and wanting to debate. There was absolutely no reason for his very personal attack here. It’s him once again taking personal information of others told in good faith or mentioned elsewhere and using it to harm/demean them.

  7. Hube says:
    Monday, 12 August 2013 at 21:21

    What does that mean Perry.

    He knows damn well what it means. What it means is Perry is full of complete bullshit when he whines about “personal attacks” and wanting to debate. There was absolutely no reason for his very personal attack here. It’s him once again taking personal information of others told in good faith or mentioned elsewhere and using it to harm/demean them.

    ——————————————-

    At 14:35 I challenged Perry with this:
    Yorkshire says:
    Monday, 12 August 2013 at 14:35

    Perry says:
    Monday, 12 August 2013 at 14:26

    Yorkshire, which would you rather have on this blog: Someone to debate, or someone who sings with the choir?

    Sure, but an HONEST Debate. Very HONEST. No name calling, no personal threats, and no dishonesty. I bet 5 cents you can’t carry an honest debate for a month. Just coming back after three bootings from here is blatant DISHONESTY to me. What say you? And I think everyone would agree on that. But I don’t see it happening.

    ——————————————
    7 Hours – 29 days 17 hours from the goal.

    Send me my nickel.

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