Era of Obama: Number of Americans Renouncing Citizenship Soars
During the age of Obama, Americans have renounced their citizenship at record numbers. In fact in four out of Obama’s five years in the White House, expatriation numbers set record highs.
Just as an example, during all eight years of George W. Bush’s terms in office, 3,865 Americans renounced their citizenship and moved overseas. But during Obama’s first five years fully 7,988 Americans quit being Americans and in 2013 expatriation soared to 2,999, a record that smashed the previous high of 1,781 set in Obama’s third year in office.
Graphic courtesy of the International Tax Blog:
Much of this is due to the outrageous tax situation that the US forces on Americans that live abroad. Ridiculously, the US is the only nation in the world that forces citizens that live permanently abroad to pay taxes on their income to the US even if derived from overseas sources.
This situation has gotten worse recently with the IRS attempting to force forcing countries to report US citizens living abroad to US authorities.
Warner Todd Huston
Warner Todd Huston is a Chicago-based freelance writer, has been writing opinion editorials and social criticism since early 2001 and is featured on many websites such as Andrew Breitbart's BigGovernment.com, BigJournalsim.com and all Breitbart News' other sites, RightWingNews.com, CanadaFreePress.com, and many, many others. Additionally, he has been a frequent guest on talk-radio programs across the country to discuss his opinion editorials and current events as well as appearing on TV networks such as CNN, Fox News, Fox Business Network, and various Chicago-based news programs. He has also written for several history magazines and appears in the book "Americans on Politics, Policy and Pop Culture" which can be purchased on amazon.com. He is also the owner and operator of PubliusForum.com. Feel free to contact him with any comments or questions : EMAIL Warner Todd Huston and follow him on Twitter, on Google Plus , and Facebook.