Why Are Americans Giving Up Citizenship? | CNBC International

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Published on Feb 17, 2015
A record 3,415 Americans renounced their citizenship in 2014. That was up from the 2,999 in 2013 and more than triple the number for 2012. Is a new law driving Americans to renounce?

The USA is the only country in the world besides Eritrea (a small African dictatorship) that uses Citizen Based Taxation on all its citizens (except US corporations)

In essence the US government has put a wall around the USA to KEEP people in the country.

The USA owns its citizens for life. , even if one does not want to be one.
Renounce? Tom Cruz renounced his Canadian citizenship for $100 Canadian dollars and a letter to the Canadian government For a US citizen to renounce. the cost is $2,350 plus 6 years of US income taxes filed, 5 years of all bank accounts they have, an exit tax on all ones assets plus possible penalties.