US citizens renouncing citizenship in record numbers

post-logo

Some food for thought as we continue to learn about the Presidential candidates:

Imagine paying U.S. taxes your entire life and then walking away from your right to collect Social Security benefits and Medicare, not to mention your rights to live and travel freely in your home country. Americans are doing that in record numbers.

U.S. tax rates have reached the tipping point where the burden now outweighs the benefits for many Americans. We’ve seen this happening for years with U.S. corporations moving their operations overseas. Its now becoming more common for individuals to give up their U.S. citizenship.

Here’s a link to a CNBC article on this issue:

http://www.cnbc.com/2015/09/11/expatriates-choosing-to-leave-the-us-rather-than-pay-taxes.html