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Americans around the world renounced their citizenship

Discussion in 'U.S. Politics' started by steveox, Mar 17, 2014.

  1. steveox

    steveox Well-Known Member

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    Why expats are ditching their U.S. passports

    3,000 Americans around the world renounced their citizenship last year. Meet five U.S. citizens who have given up their passports -- or are thinking about it -- to escape an overly complicated tax code.

    Name: Donna-Lane Nelson, 71
    Lives in: Geneva, Switzerland

    I renounced my U.S. citizenship in 2011. After I did it, I was so emotional that I threw up outside the embassy.

    During my renunciation, I broke down. It was like getting a divorce. America gave me my education, a good career path, and I came from a beautiful part of the country. This was very hard.

    Before I took the last oath, I asked if I could change my mind. The embassy worker said maybe, with official permission. But I still went through with it.

    My decision to renounce was triggered when my bank threatened to close my account because I was American. What would I do without a bank? Americans in Switzerland were having trouble with their investments, getting credit cards, and some weren't even getting loans.

    I've been in Switzerland since 1990, and became a citizen in 2005, because I wanted the right to vote where I was living. The Swiss can tell I have an American accent, and I'm often explaining that I grew up in the U.S. and have a daughter who still lives in the Boston area.

    http://finance.yahoo.com/news/expats-ditching-u-s--passports-151127757.html

    When I hit powerball or mega millions jackpot IM GOING TO CANADA! And become an Canadian citizen. Under their lotteries law LOTTERY WINNINGS ARE TAX FREE IN CANADA!

    http://www.lottery.net/news/canadian-tax-law-is-a-winner-for-lottery-players.asp

    Im Going to get an Canadian lawyer AND IM GONNA SUE THE I.R.S! If they touch the first installment.
     
  2. dogtowner

    dogtowner Moderator Staff Member

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    Move first, then give up citizenship, THEN buy your winning ticket. No lawyer will get you the money.
     
  3. steveox

    steveox Well-Known Member

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    Ill do it after I win and move. If you get the right Lawyer they defend you.
     
  4. dogtowner

    dogtowner Moderator Staff Member

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    Actually i made a mistake. Doesnt matter who you are a cutizen of. IRS gets its cut no matter what.
     
  5. steveox

    steveox Well-Known Member

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    Not if you dump your American citizenship. That's the loophole around the system.
     
  6. dogtowner

    dogtowner Moderator Staff Member

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    Nope. If you make money herr you oay taxes here.
     
    BigRob likes this.
  7. steveox

    steveox Well-Known Member

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    I Owe NOTHING to the IRS when I become an Canadian citizen
     
  8. dogtowner

    dogtowner Moderator Staff Member

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    Tell yourself that when you are in the slammer.
     
  9. steveox

    steveox Well-Known Member

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  10. GBFan

    GBFan Well-Known Member

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  11. GBFan

    GBFan Well-Known Member

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    You're aware, of course, that we have an extradition treaty with Canada, right? They don't have to kidnap you ... the Royal Police will deliver you right to the door.
     
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  12. steveox

    steveox Well-Known Member

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    Not when I become an Canadian citizen. Wheres the F.B.I when Denise Rich gave up her passport to fail to pay the I.R.S?
     
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