And I thought everyone wanted to move here and succeed!?

I was wondering if someone could explain this to me. Someone works hard to become an American citizen, goes out in life proud to be an American and succeeds in business, and then turns around and renounces his American citizenship? There must be something I am missing in that scenario. Could someone fill me in, please?

 

Maybe the person felt that that the desired degree of business success had been achieved and that he or she was now ready to move on. If business success was the primary goal, then why hang around once the goal has been met? But then I don't know all the details so that's just a tentative answer.

 

But why would he renounce his citizenship just to move on? Renouncing is the key here, not moving on.

 

Hell, if my health deteriorates to a level I can't handle, I might renounce my citizenship myself... and move to Canada.

(starts singing) ... "Ohhhhhhhh, Cannnnn-a-daaaaaaa!...eh?"

That it's colder up there isn't just a bonus...it's getting too hot here.

 

...we can only hope...
I guess draft dodgers went to Canada first, now it's ?

 

I did not realize that it even costs you money to renounce. And it take a substantial amount of money.

 

It's probably a matter of weighing the benefits of American citizenship against the liabilities in the context of whatever situation the person in question is in. People renounce their old citizenship and become American citizens all the time and we don't think twice about it. Here someone is simply doing the opposite.

He or she has apparently decided that opportunities for whatever it is that she/he wants at this point in terms of life or career no longer lie in America. Based on this she/he is taking the steps that are thought to be appropriate and necessary in order to move on.

 

All kidding aside, it usually has to do with income taxes.

 

I'm not so sure I'll need to move to Canada anymore. I'll be owning a farm pretty soon.

 

You shouldn't get into the habit of calling me that.

 

Well, DOH! And, no, he did not move to Canada with the other deadbeats. He moved to Singapore. It cost him $200M. God only know how much Eduardo Saverin will save. "Saverin’s notice of renunciation was published in the April 30, 2012, edition of the Federal Register along with more than 400 other people who are no longer U.S. citizens." http://www.forbes.com/sites/kellyph...cape-all-u-s-taxes-by-renouncing-citizenship/ Now, think about that whenever you think we ought to increase our income taxes on the rich. I would a lot rather have them hoarding their money here than in Singapore. At least when they do hoard it here, we get a small piece of it in stead of the none we get when they move to Singapore. Believe me, there is nothing to keep a lot of these rich job creators here in today's society

 

You mean offering them tax-loopholes, subsidies, and generally keeping America's nose firmly planted up their butts. Cater to their every need... maybe America will get "lucky" enough to convince them to keep their money here... if America gets really lucky, those deadbeats will actually invest money in America.

Good luck with that... it sounds so... hopey-dopey.

 

So you are saying that if we tax the crap out of them, then we will have a better change of keeping them here? HMMM? I will have to think about that and get back to you later. Why don't you hold your breath waiting for me while I see if I can possible come up with a scintilla of logic in there.

BTW, "hopey-dopey"? Really!

 

Oh I get it now. Initially I thought that this was a serious and kind of interesting question. But it's really just the old the-rich-are-overtaxed-here-so-now-they're-all-leaving thing. This dried out beef has been hashed to sawdust over and over again. I have other things to do.

 

You're battling conventional liberal "wisdom" there, my friend.

 

Oh, but I was serious. Which part of this do you believe was not serious? Apparently I was too serious for you to debate the facts.

 

Yawn, stretch. I guess you were.

 

Just because the answer doesn't fit your narrative doesn't make it non-serious.

 

SO people immigrate here, use our infrastructure, use the freedom our ancestors fought and died for, use our natural resources, use our trained and educated labor force, use our police and firemen, and end up making a lot of money and when they are asked to give back to the country, they would rather renounce their citizenship and leave. Why would I care about their motives for leaving just as long as they go and never come back.

 

A born-with-a-silver-spoon-in-his-mouth billionaire decides that he wants to dodge taxes by renouncing his citizenship, and we're supposed to do what? Lower taxes on billionaires? Again? This putz was already wealthy, and become much more wealthy here in the US, but now he's going to take his money and run. After all, it's not as if he should feel any loyalty to the country in which he became filthy rich.

"Capitalists and Other Psychopaths"