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.
May 14th, 2012 at 5:54 am
The distress signal pictured says it all.
Great post Andy.
May 14th, 2012 at 6:00 am
Thanks, FM!
I recall ‘Me’ questioning this trend some time ago. I’ve been meaning to write about it. One of the early birds to fly away was Wall Street mogul Jim Rogers, who moved his entire family, grandchildren and all, to Singapore a few years ago.
May 14th, 2012 at 6:04 am
What I also find amusing in all of this is how when Liberals bellyache about leaving the country if a Republican gets elected, they wind up eating their words and stay here. Just goes to show how gutless they are. These Americans are leaving so they can still be ‘AMERICANS’! Sad when your own country hates you for being successful.
May 14th, 2012 at 9:27 am
So this is about 1700 people renouncing their status as Americans?
1700?
Out of 300 million?
Oh my.
May 14th, 2012 at 9:50 am
Yes, Buzzbee, 1780 just last year. Add to that 1485 in 2010 and another 731 in 2009. So about 4,000 Americans have fled the tyranny of Barack Obama. Rather than stay here to be raped and pillaged by an ungrateful government, these true pioneers of liberty have departed. No longer are they subject to the fear and torture Obama uses to maintain his grip on power.
May 14th, 2012 at 11:55 am
Good. Let’s get rid of the trash. If conservative wingnuts are finally leaving the country then I say Amen.
May 14th, 2012 at 3:53 pm
I have a company overseas for no other reason than to funnel money.
I am not mad at anyone, it is simply good business.
My business is doing better now than ever and my taxes are lower. I am not complaining, but I don’t mind taking advantage of opportunities.
Tyranny? What tyranny?
The United States is a very affordable place to live and while food and gas has gone up, other things, like housing, have decreased.
Additionally, have you driven in a major city lately? Traffic is down. Why? The economy is a major factor, but technology has allowed many people to work from home, at least a few days a week.
We are the most efficient country in the world at extracting our oil and the merging of demand and production will stabilize that cost.
And again. 4000? That is insignificant.
Just as insignificant as people giving attention to the occupiers or painting them as representative of liberals. They are outliers who share very little with the general populace. They are nothing but a photo op.
It is like a Klan meeting. Are they representative of any group other than their own? No, but you put five guys in sheets and you can bet their will be TV cameras there.
You want to eliminate a tyrannical act? Outlaw lobbying, PACs and put a limit on campaign spending.
Politics need a salary cap. That will give a good indication of who has good management skills.
“Each of you has X dollars and four months. You can spend it on television, the Internet, print, etc.”
Good luck to both of you.
May 14th, 2012 at 3:58 pm
“So this is about 1700 people renouncing their status as Americans?
1700?
Out of 300 million?
Oh my.”
Yeah, its the one percenters who are tired of the vampires
May 14th, 2012 at 4:12 pm
Ya know, the only ones who can afford to move anymore ?
You’re the ones who were beeching about Europe being so great , not us, we have nothing to lose for the next 13 trillion,oh, excuse me,13 years so it makes no sense for us to leave. Once Dickhead gets a hold of my paycheck I’ll be lucky to have bus fare to Vegas.
If I was a one percenter, I’d get the fck outta Dodge too.
I wouldnt want to be one of the 3000 keepin all of you supplied with food n birth control.
Whatever, I just dropped by to ask why no celebratory Ron Paul post ?
May 14th, 2012 at 4:25 pm
Those people have the right to leave. I don’t blame them. It’s foolish to be a successful person yet live in a country with so many envious, entitled people that feel you don’t deserve what you’ve earned.
I wonder how many others have left permanently but haven’t renounced. Also wonder how many have stayed here but stopped paying taxes & filing returns. Anyway I’m glad at least some people have the nerve to resist or the ability to leave. I’m jealous.
May 14th, 2012 at 4:59 pm
“I have a company overseas for no other reason than to funnel money.”
tsk tsk
Buzzer is not willing to write an extra tax check?
Shock and Awe!!!
LMAO
May 14th, 2012 at 5:58 pm
So even if the number is 4,000 we are looking at a staggering 0.0013%
INSANITY! Thats about how many people work in the same building as I do! CURRRRRRAZY!
May 14th, 2012 at 6:03 pm
I still pay a significant amount, but like many of you, my rates are the lowest they have been in years.
Have your federal taxes increased recently?
The middle class has not had any significant increase, nor has the upper middle class or upper class.
Who here is paying more than they were?
If so, fire your accountant because they clearly have trouble with arithmetic.
So where is this “takin’ my paycheck” sentiment coming from?
May 14th, 2012 at 7:29 pm
:No longer are they subject to the fear and torture Obama uses to maintain his grip on power
Exactly when did Obama use fear and torture?
May 14th, 2012 at 9:11 pm
Leave it to liberals to attempt lemonade from lemons. Oh the wide-eyed faux-optimists on this thread amuse me!
May 15th, 2012 at 4:11 am
1780 people ‘no longer want to be taxed by Barack Obama’. Do you realize how insignificant of a number that is? Hell, I have more friends on Facebook than that! I actually personally know more people than have decided that they ‘no longer want to be taxed by Barack Obama’. The number is so ridiculously insignificant that it’s not even worthy of news. There are no lemons here.
May 15th, 2012 at 4:12 am
I don’t know why this number of 4,000 is an issue with you Libs. For starters, somebody has to be first! Its like saying, oh, those crazy 150 Pilgrims went to North America. Nobody else will ever want to go there!
Secondly, you folks are missing the significance of the type of people fleeing. I suggest you Liberals reread Ayn Rand’s tome, “Atlas Shrugged.” Its not about quantity but quality. How many producers and innovators can America afford to lose? How many must go before the ‘motor of the world’ stops?
May 15th, 2012 at 4:19 am
Maybe no lemons here, Snow, but plenty of lemmings, all with big ‘D’ on them for Democrat.
Sure, these folks who are fleeing want to pay less taxes. They think that the money they earn should belong to them, not be stolen by anybody, including a tyrannical government. Oh yes! Obama is a tyrant!
As I mentioned in the article, the Obama administration adds about 1,000 new federal regulations per WEEK! The average American commits a federal felony every three hours while he or she is working their job. How do you like being a considered a criminal merely by existing and trying to earn a living?
May 15th, 2012 at 4:21 am
The smallest MLB stadium in history is Montreal’s Jarry Park (which closed in the late 70s). Even still, the number of people who ‘No longer want to be taxed by Barack Obama’ is 6.35% of Jarry at full attendance.
You guys just LOVE fear. You live on that sh*t. Now go incite some more fear you crazy little bstards.
You might want to start buying foil at Costco. I saw that you can purchase 1,000 feet for under $30. That’s probably enough for you, plus all those people who ‘no longer want to be taxed by Barack Obama’ to make hats out of.
May 15th, 2012 at 4:27 am
You mention the 1,000 regs per week, but do you actually have anything to back that up? You tend to produce a lot of pure, highly concentrated bullsh*t in your articles, Andy.
I did a little searching to no avail, though I’m short on time cuz I have to run to work.
May 15th, 2012 at 7:04 am
Its a growing trend.
“the number of U.S. citizens voluntarily expatriating in 2011 was more than double the number in previous years. In fact, more U.S. citizens turned in their passports in 2012 so far than in 2007, 2008, and 2009 put together.”
That’s pretty significant despite what Obama suck-ups want to believe. At least the lemonade makes them happy, and everyone knows there is something to say for blissful ignorance. That’s why the bootlickers in Orwell’s book were so content with their lives.
May 15th, 2012 at 7:28 am
We have the highest per capita rate of incareration in the world. Is that because we are commiting felonies at work?
No, it is beause crime is now a good business.
Privatized prisons, mandatory sentences, 3 strikes, police and lawyer lobbies etc.
The large majority are for drug crimes.
Legalize it. I don’t care of someone wants to get high, I simply don’t want them stealing my car stereo to fund their habit.
May 15th, 2012 at 7:29 am
Again, who’s federal taxes have gone up?
May 15th, 2012 at 10:33 am
“I still pay a significant amount, but like many of you, my rates are the lowest they have been in years.”:
Not for long.
Ya know. Bait
Teaser rates ?
You make a million a year ?
May 15th, 2012 at 10:49 am
@BUZZ
YADDA YADDA,whatever.
Do you have to shop & do all the domestics I do ?
So what if “taxes” havent gone up ?
Its still cost a shtload more to do anything and our paychecks remain the same.
This is why Barry will lose.
I’m middle income, own a house now worth half what I paid for, had to let go a couple guys.
I do cosmetics for race cars n Harleys, not really a priority today.
Call it what you want. The present system is too expensive and damn near dysfunctional.
Lot of sht I wont buy just out of sheer principle.
Tony the Tiger aint gettin 7 bucks for a box of corn flakes so he can put ethanol in his tank and kickback to the farmer.
Charlie the Tuna can go fck himself, aint nothin but water in his can,and the friggen butchers are leaving all the garbage parts on to increase weight.
Big ticket items, getting cheaper by the day, cant give them away. 22inch flatscreens nice.
But my fckin power bill wont stay still and I aint got 30,000 for solar panels. Even if the sun does shine eveyday in Hawaii