The Miami Herald article by Alfonso Chardy warns of a growing trend where Americans are renouncing their US citizenship to avoid the IRS and Obama taxes. This comes on the news last week that one of the founders of Facebook, Eduardo Saverin, had moved to Singapore last year and and has renounced his US citizenship as he now stands to make billions of dollars as the Facebook IPO stock goes on sale. In 2009, some 731 Americans parted ways with the United States. In 2010, 1,485 people renounced their citizenship. Last year, Eduardo was one of 1,780 Americans who no longer want to be taxed by Barack Obama.
According to the article by Chardy, the trend began in 2009 when Obama instructed the IRS to aggressively go after the off-shore accounts. The biggest fish fried in this exercise was the Swiss banking giant, UBS. The historical protection of the anonymity of the Swiss banking system was challenged and brow-beaten. Prior to this, the normal average for Americans renouncing their citizenship was about 200 to 400 per year.
But nothing is normal with Barack Obama around. Down is up, wrong is right and the White House has been turned into the Amityville house of horrors. With Obama-Care, Dodd-Frank and the ever-approaching ′Tax-ageddon′ drawing closer, Americans who can are voting with their feet. Fleeing the Obama tyranny of lawless oppression, bullying and kleptocracy for friendlier climates of low taxation and fewer government regulations. The Obama administration adds nearly 1,000 new rules and regulations to the federal law books each week! One estimate is that the average American now commits a federal felony once every three hours when at work. Is it any wonder why the best and brightest are leaving?
But Barack Obama does not care. This past Friday, while speaking in Seattle, Obama even admitted that he often forgets that Americans are suffering in the worst economic recession since the 1930s. Obama does give a hoot about individual liberty, freedom or upholding the law under the US Constitution. All he cares about is when his next Kobe beef steak will be flown in from Japan. Or what celebrity will hang out with him and make Obama feel important. Who would want to live under a government run by a narcissistic ego-maniacal buffoon?
Well, according to Alfonso Chardy of the Miami Herald, a growing number of Americans have had enough and are renouncing their US citizenship to avoid the IRS and Obama taxes. The numbers for the past three years have been growing steadily. The most famous recently is Facebook founder Eduardo Saverin, who may make about $4 Billion dollars when the stock IPO for Facebook takes place. If Barack Obama wins in November, we may see the floodgates open in 2012 with many more thousands of job creating entrepreneurs fleeing the country as ′Tax-ageddon′ approaches.