Thursday, February 9th, 2017

The One Percent Deports Itself


"The number of people renouncing their U.S. citizenship is higher than ever.  Now that new provisions in the Foreign Account Tax Compliance Act have gone into effect, the feds are reining in tax dodgers living abroad. But many of these super-wealthy people who would be forced to pony up more in tax payments are choosing to sever ties with their country of birth instead.  Many of these individuals lead nomadic, season-driven lives. Their choice of where to live at any one time is based on that location’s climate, their children’s education, tax constraints, or which of their friends they want to lunch with on any particular day. When one has such a global