Google Trends "renounce citizenship"

dsiomtw said:
You don't pay taxes on future income once you renounce your US citizenship anymore. :rolleyes:

It used to be like that but it hasn't been for some time. There is now an "exit tax" that treats any assets as being sold on the day you renounce your citizenship and you would pay capital gains, etc. taxes on those.

Once you do that you're free forever, and for most people this would be nothing more than just paying some normal capital gains taxes if they sell their house for more than they bought it for.
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Sounds too good to be true. Not doubting you or your research.

Good luck bros....
 


It probably won't be this way for too much longer. Probably another 2-5 years at most. I'm guessing they will switch back to the old "you owe us 10 years of taxes after you leave" rule, or worse.

Of course, once you're offshore and a citizen of another (preferably a low or no income tax) country, it's not exactly hard to tell the US to fuck off even if they did switch back...

You could have your Panama corp pay for your house, cars, food, entertainment, travel, basically pay for anything and everything, and just pay yourself a $10,000 a year salary and pay the US taxes on that, and there's nothing Uncle Sam could do about it.
 
dsiomtw said:
It probably won't be this way for too much longer. Probably another 2-5 years at most. I'm guessing they will switch back to the old "you owe us 10 years of taxes after you leave" rule, or worse.

Of course, once you're offshore and a citizen of another (preferably a low or no income tax) country, it's not exactly hard to tell the US to fuck off even if they did switch back...

You could have your Panama corp pay for your house, cars, food, entertainment, travel, basically pay for anything and everything, and just pay yourself a $10,000 a year salary and pay the US taxes on that, and there's nothing Uncle Sam could do about it.
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Except send Navy Seals to your house in the middle of the night and kill you... that's about it. :ak:

I want to leave so bad... I am planning it already... 2015 Baby!
 
Yuma504 said:
Paraguay or Cambodia FTW.
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Cambodia, huh? I'd heard Paraguay was a good bet, but I didn't know about Cambodia. What's the upside? Can I rent out part of Angkor Wat for my pad? Talk about straight pimp.

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I was disappointed with the results of Tuesday's election, but had to laugh at the stupidity exhibited by some of the people on my Facebook news feed.

"I can't believe this shit. I'm looking into Canadian citizenship. Who's with me?"

Wrong place to get away from socialized medicine and higher tax rates...
 
Those of you who want to leave the US, where do you want to go? Europe isn't anymore free in terms of economic freedom or personal property rights, far from it, you can't even own a gun. However, it's much more socially liberal, meaning you won't be thrown in jail for snorting coke or smoking a joint. Even tax evasion is suprisingly cheap at max 3-4 years in most countries.

I always though of the US as having more personal freedom than Europe, but then I look at the insane drug laws and how they send a small army to arrest a small time dope dealer and I think something is very, very wrong. Or go to jail for 10 years because you had sex with a girl one day before her 18th birthday and forget about having sex with a prostitute, where you let cops set up traps and entice people to break the law. Straight out insane.

Strange country you live in, where you seem to want to harshly punish victimless moralistic crimes. Really, you're not much better than Iran in that regard.
 
When you renounce, your money lives in another country, you physically can live in any country you want.
 
brentb said:
South America... with all the Spicy Latina babes, warm weather, where the dollar is powerful... oh yeah.
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But how free will you be? If money buys you freedom, what if you can't pay for the corruption?

There's a flipside to living in third world countries and that is lack of law and security.
 
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