This is not “having your cake and eating it too,” it’s much more complex. It also is never a case of “the country wasn’t good enough to live in.” I would love to live in the USA. That is not where life took me. At its simplest Americans are not free to live anywhere in the world the way citizens of all other countries are (even Eritrea, the only other country that taxes it’s citizens based on citizenship, does not subject its citizens to the same tax complexity). All Americans should be outraged over their lack of freedom in this regard. 20 years ago I could not have imagined I’d end up living in Australia, but we don’t always know where life will lead us.
Many people are born to American parents overseas and are required to spend thousands yearly to file or pay $2350 to renounce.
Paying double tax to two countries is unachievable for the majority of us. There are treaties in place to avoid the is happening, however the cost of having a specialist accountant file every year is astronomical. I have paid over $25k to accountants and never once owed tax to the US.
There are also some seriously unconstitutional and human rights violations going on. The surprise retroactive Transition tax of 2017 has financially ruined many small business owners, in some cases taking all their retirement savings. These are people who have worked and paid taxes in their residence country for their lifetime. There is a case in front of the Supreme Court challenging this right now.
ajay-b|4 years ago
withinboredom|4 years ago
But you asked, why remain a citizen? As a citizen, I can freely enter the US, even during a pandemic. When a relative dies, you want to go back and you shouldn’t have to worry about getting a tourist visa, you know? That’s not the only reason, but it’s a pretty big one.
popcube|4 years ago