Friday, September 27, 2013

Was it prophetic?

The novel seems to have been prophetic as the news is that more and more Americans are giving up their citizenship. According to BBC: "The number of expatriates renouncing their US citizenship surged in the second quarter of 2013, compared with the same period the year before - 1,131 cases to 189 in 2012. It's still a small proportion of the estimated six million Americans abroad, but it's a significant rise."

Why? Taxes and the inflationary expense of figuring out what forms are needed etc.etc.etc. and etc.

"This has nothing to do with avoiding taxes. I was never in danger of having to pay taxes in the US since I pay more here. The issue for me was that it was becoming harder and harder to follow the tax code and comply. It was difficult already but when I knew Fatca was coming, I thought, 'Do I want to go through with it anymore?'"

BBC

 

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