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Record Numbers Of Americans Renounce US Citizenship

Sunday, May 10, 2015 6:53

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(Before It's News)

By: Voice of Reason

FOR MORE NEWS BY VOICE OF REASON CLICK HERE!

Some FAMILIES HAVE BEEN BUILDING MULTI-MILLION DOLLAR DOOM BUNKERS, otherwise known as safe houses, while others are paying huge taxes to renounce their citizenship so they can flee the U.S. and never to look back again. Why do you suppose they’ve been doing that? You going to try to tell me that all these VERY wealthy individuals are all “Conspiracy Nuts?”

In almost 3 years I have put out over 4,000 posts, so the ones I link to on major topics at the bottom of my posts are either the most relevant, the most recent, or the most SHOCKING that people really MUST know. READ them. LEARN what is coming! Like I said… a little common sense on this stuff goes a long way. Finally, you’ve have THREE household name BILLIONAIRES telling you the financial apocalypse is coming. So, if you won’t listen to me, listen to them:

TRUMP TELLS AMERICANS TO PREPARE FOR FINANCIAL RUIN

GEORGE SOROS BETS $1.3 BILLION U.S. STOCKS WILL CRASH!

BUFFETT PREDICTS MAJOR COLLAPSE FROM FAILING BANKS & DERIVATIVES

There are SO many signs of what is come I find it more scary that no one notices, than I do the thought of crazed mobs coming to killing me for food. First and foremost, as I’ve often said, just using a little common sense, and some third grade arithmetic should tell you that 99.9% of what you are being told is either a LIE, or only part of the information.

We have LESS people working now, than any point in history over THE LAST 67 YEARS. That should good to you? We have 94 MILLION people on some form of government welfare out of only about 300 MILLION citizens. 94 MILLION not working divided by 300 MILLION total people is what? That is UNEMPLOYMENT OF 31.33%. That’s great depression numbers. Just because Obama tells you it’s 5.5%, how about a little follow though huh? My goodness. DON’T FORGET THE FOLLOWING:

READ THE LINKS OF THE PEOPLE RENOUNCING CITIZENSHIP TO FIND OUT OF THEY WERE POOR FOLKS WITH NO WHERE TO GO, OR IF THEY WERE VERY WEALTHY PEOPLE WHO NOT ONLY WANTED TO GET OUT OF THERE, BUT WERE WILLING TO PAY A HUGE TAX TO DO SO.

WHAT HAPPENS WHEN WE ARE NO LONGER THE RESERVE CURRENCY?

WHERE WILL PEOPLE GO WHO CANNOT RENOUNCE THEIR CITIZENSHIP?

It seems like it was only yesterday when we wrote that a record number of Americans have renounced their citizenship by expatriating and handing over their US passports one last time. Well, make that recorder after Thursday’s release by the IRS of its latest “taxpatriot list” - a quarterly report that is published in the Federal Register and list the names of every person who renounced their U.S. citizenship during the previous quarter.

The original idea for publishing these names was that it would become a list of shame, with some government tax lawyers unofficially labeling it the “name and shame” list. But judging by the soaring numbers of people who clearly don’t mind putting their name on paper just to get rid of their US passport, it didn’t quite work out that way. In fact to many people being added to the “taxpatriot list” has become a badge of honor.

How many? According to the IRS, in the first quarter of 2015 a record 1,335 Americans renounced their citizenship, 26% more than in the previous quarter, and 18% more than the previous all time high quarter which was in Q2 of 2013

If one annualizes the Q1 number, the number of 2015 expatriates is set to hit roughly 5,340, or a 56% increase to what was already the record expatriation year of 2014, in which 3415 Americans punched a hole through their passport.

Some thoughts from Bloomberg on this “highly distressing” trend:

“The cost of compliance with the complex tax treatment of non-resident U.S. citizens and the potential penalties I face for incorrect filings and for holding non-U.S. securities forces me to consider whether it would be more advantageous to give up my U.S. citizenship,” Stephanos Orestis, a U.S. citizen living in Oslo, wrote in a March 23 letter to the Senate Finance Committee. “The thought of doing so is highly distressing for me since I am a born and bred American with a love for my country.”

London Mayor Boris Johnson, who had a tax dispute with the IRS, said earlier this year that he would give up the U.S. citizenship he received because he was born in New York. His name isn’t on the IRS list. Eduardo Saverin, a Brazilian-born co-founder of Facebook Inc., gave up his U.S. citizenship in 2012

In any event, whether for tax purposes, because they are tired of living in an Orwellian dystopia (recall that last week a Federal appeals court found the NSA’s decade-long pervasive spying on US citizens was illegal, a move which will result in absolutely no change in America’s police status), or for any other reason, a record number of former Americans have had enough and just said no to their US citizenship. A trend, which as can be easily seen below, is far from over.