Rich People leaving US Citizenship ?

[Donatello]

Oh we already agree Baltimore and the rest of USA is a shithole not worth living. People are leaving in droves. Those that do not leave are dying. Singapore is the place, or China, or Russia. BTW, every place has slums, even Singapore, and not just from blogs.

Russia? China? What? Next you're gonna pull in Cuba and North Korea as well.

Shows very well about your limited exposure to the world beyond the US of A.

 

[VCheng]

Russia? China? What? Next you're gonna pull in Cuba and North Korea as well.

Shows very well about your limited exposure to the world beyond the US of A.

Sure, no real Murrikan knows much about the rest of the world beyond, but I do have a fair idea, Sir. There are people here who would put Cuba above USA in most categories too, including healthcare. Plus, any deficiencies in Cuba or North Korea must be all evil USA's fault, or so the popular refrain goes on PDF.

 

[Donatello]

Sure, no real Murrikan knows much about the rest of the world beyond, but I do have a fair idea, Sir. There are people here who would put Cuba above USA in most categories too, including healthcare. Plus, any deficiencies in Cuba or North Korea must be all evil USA's fault, or so the popular refrain goes on PDF.

Your posts reek of ignorance, typical of someone who sees only Murica. Sorry, but that is what i think.
May i ask what other nations have you lived in, traveled or experienced? (and by that i don't mean like visiting the beaches of Brazil on Google)
Cuba survived very well, as we all know. And the same Muricans that despised Cuba now want to treat it as an exotic destination. So yes, the American lands are awesome, but not necessarily the people that inhabit it, just like many other places in the world.
Hence, smart and rich moving about the world and not giving a shyt about the society. I mean, if you are that filthy rich, you can live like a king in a third world nation and like a king in the developed world.

Hope that brings us back to the topic.

 

[VCheng]

Your posts reek of ignorance, typical of someone who sees only Murica. Sorry, but that is what i think.
May i ask what other nations have you lived in, traveled or experienced? (and by that i don't mean like visiting the beaches of Brazil on Google)
Cuba survived very well, as we all know. And the same Muricans that despised Cuba now want to treat it as an exotic destination. So yes, the American lands are awesome, but not necessarily the people that inhabit it, just like many other places in the world.
Hence, smart and rich moving about the world and not giving a shyt about the society. I mean, if you are that filthy rich, you can live like a king in a third world nation and like a king in the developed world.

Hope that brings us back to the topic.

You can think whatever you like, it is your entitlement.

Back to the topic, let the exodus of people giving up their US citizenship increase to the joy of many here. The numbers and the trend will show whether or not I am right or not, and how much of this is due to FACTA:

Record number of Americans abroad giving up citizenship | TheHill

A record 1,335 Americans living overseas renounced their citizenship in the first three months of 2015, according to the Internal Revenue Service.

That number is 18 percent higher than the previous record, according to Bloomberg. In all of 2014, 3,415 individuals gave up their U.S. citizenship, the second straight year when renouncements hit a new record high.

The data only provided the names of Americans giving up their passports, and not their reasons for doing so. But the spike comes as the U.S. government is getting more aggressive about ensuring that Americans living abroad are unable to hide funds that should be taxed back home.

 

[Donatello]

You can think whatever you like, it is your entitlement.

Back to the topic, let the exodus of people giving up their US citizenship increase to the joy of many here. The numbers and the trend will show whether or not I am right or not, and how much of this is due to FACTA:

Record number of Americans abroad giving up citizenship | TheHill

A record 1,335 Americans living overseas renounced their citizenship in the first three months of 2015, according to the Internal Revenue Service.

That number is 18 percent higher than the previous record, according to Bloomberg. In all of 2014, 3,415 individuals gave up their U.S. citizenship, the second straight year when renouncements hit a new record high.

The data only provided the names of Americans giving up their passports, and not their reasons for doing so. But the spike comes as the U.S. government is getting more aggressive about ensuring that Americans living abroad are unable to hide funds that should be taxed back home.

Well, we all know the reasons. Since your taxes are due to be paid to IRS even if you earn income outside of USA or are resident there, it doesn't make any sense to keep holding onto USA citizenship when you don't live there but pay millions in taxes.
All of these people are those who would have more taxes due in one year than what an average American makes in his entire lifetime! So yes they are small number, but big financial movers wherever they go.

 

[VCheng]

Well, we all know the reasons. Since your taxes are due to be paid to IRS even if you earn income outside of USA or are resident there, it doesn't make any sense to keep holding onto USA citizenship when you don't live there but pay millions in taxes.
All of these people are those who would have more taxes due in one year than what an average American makes in his entire lifetime! So yes they are small number, but big financial movers wherever they go.

Such ultra-rich have always been the most mobile people on Earth, nothing new here. A few more changes in the law, as described in the OP, and this situation will be clarified further quite soon.

 

[Arya Desa]

Please gibb me Amreeki citizenship I love $$ and freedom too.

 

[Donatello]

Such ultra-rich have always been the most mobile people on Earth, nothing new here. A few more changes in the law, as described in the OP, and this situation will be clarified further quite soon.

Yes which highlights the fact that America is no longer the go to place and the end of all to make money and save money. I mean, these people who are giving up their citizenship have to go somewhere, right? They are not stateless. So my question is, why do they choose those locations and not remain in the USA? So for someone like me or you USA might be enticing (provided we actually make use of the opportunity, and not be driving taxis or selling gyros) but to the ultra rich, there are clearly better places.

 

[VCheng]

Yes which highlights the fact that America is no longer the go to place and the end of all to make money and save money. I mean, these people who are giving up their citizenship have to go somewhere, right? They are not stateless. So my question is, why do they choose those locations and not remain in the USA? So for someone like me or you USA might be enticing (provided we actually make use of the opportunity, and not be driving taxis or selling gyros) but to the ultra rich, there are clearly better places.

Yes, this fact that America is no longer the go to place and the end of all to make money and save money is true, and I agree with you here. It is time for everyone to highlight this fact so that others may heed it and not waste any time and effort in coming to this loser of a country.

 

[Donatello]

Yes, this fact that America is no longer the go to place and the end of all to make money and save money is true, and I agree with you here. It is time for everyone to highlight this fact so that others may heed it and not waste any time and effort in coming to this loser of a country.

Umm, no where did i mention that it is a loser country...well...maybe in a lot of things compared to other developed nations....and yes it is quite true that those who haven't been to USA think it is the solution to a better future, but in reality once you've lived there and elsewhere in the developed world, it really opens up your eyes.....(a point you have hard time understanding, maybe because USA is the only place you've experienced?)

Anyway, i would politely dis-engage in this useless banter contest with you where everything ends with USA being supreme....

 

[VCheng]

Umm, no where did i mention that it is a loser country...well...maybe in a lot of things compared to other developed nations....and yes it is quite true that those who haven't been to USA think it is the solution to a better future, but in reality once you've lived there and elsewhere in the developed world, it really opens up your eyes.....(a point you have hard time understanding, maybe because USA is the only place you've experienced?)

USA is not the only place I have experienced Sir.

The reason I used the word loser is because USA is indeed losing its edge in many fields.

 

[Azizam]

Yes, there are.

For example:

A richer Singapore is one full of ghettoes populated with identity-hoppers | Yawning Bread

Singapore’s Ghettos | Abdillah Zamzuri

The China Watch


» singapore slums ghetto

Blogs and random websites as sources? Singapore has the highest density of millionaires in the world, the least corrupted country in Asia, has one of the best educational systems and most importantly it is ranked as the best country to do business which is one of the reasons why millionaires are drawn into it.

 

[VCheng]

Blogs and random websites as sources? Singapore has the highest density of millionaires in the world, the least corrupted country in Asia, has one of the best educational systems and most importantly it is ranked as the best country to do business which is one of the reasons why millionaires are drawn into it.

Yes, it is true that Singapore is a rich place, but it also has its slums. Poverty, after all, is a relative term.

 

[livingdead]

some south american countries and east asian countries are good to retire to. Leave your wives in USA. You can get a shiney new one.

 

[Azizam]

Yes, it is true that Singapore is a rich place, but it also has its slums. Poverty, after all, is a relative term.

True that poverty is a relative term but its infrastructure is better so signs of power should also be relatively absent.