Record number of Americans expatriate
Record number of Americans expatriate
Issues@Hand
Issues@Hand
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April 2017 – 2016 saw the highest number of American citizens ever to give up their citizenship. During the 12 month period, 5,411 people surrendered their American passports, 2,300 of those in the last quarter. Before 2010, the number of expatriates never rose above 1,000.

Most blame America’s tax laws. The U.S. is one of the few countries to base tax on nationality, not residency, meaning Uncle Sam demands a cut of income made outside America’s borders. This, in essence, forces American citizens living and working abroad to be double taxed.

Boris Johnson was born in America but currently serves as a Foreign Minister for Britain. He has been a critic of America’s tax laws for years, but gave up his passport and citizenship as a final act of protest.

usnews.com, 2/9/17; intltax.typepad.com, 2/8/17