Friday, May 25th, 2018

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