U.S. Hikes Fee To Renounce Citizenship

[Homesteader]

http://www.forbes.com/sites/robertwo...enship-by-422/

"To leave America, you generally must prove 5 years of U.S. tax compliance. If you have a net worth greater than $2 million or average annual net income tax for the 5 previous years of $157,000 or more for 2014 (that’s tax, not income), you pay an exit tax. It is a capital gain tax as if you sold your property when you left. At least there’s an exemption of $680,000 for 2014. Long-term residents giving up a Green Card can be required to pay the tax too.

Now, the State Department interim rule just raised the fee for renunciation of U.S. citizenship to $2,350 from $450. Critics note that it’s more than twenty times the average level in other high-income countries. The State Department says it’s about demand on their services and all the extra workload they have to process people who are on their way out."

More at link

[BugoutBear]

Y'all had better recognize.
The Soviet Union did exactly that and more for someone to leave.

[abvp]

http://www.forbes.com/sites/robertwo...enship-by-422/

"To leave America, you generally must prove 5 years of U.S. tax compliance. If you have a net worth greater than $2 million or average annual net income tax for the 5 previous years of $157,000 or more for 2014 (that’s tax, not income), you pay an exit tax. It is a capital gain tax as if you sold your property when you left. At least there’s an exemption of $680,000 for 2014. Long-term residents giving up a Green Card can be required to pay the tax too.

Now, the State Department interim rule just raised the fee for renunciation of U.S. citizenship to $2,350 from $450. Critics note that it’s more than twenty times the average level in other high-income countries. The State Department says it’s about demand on their services and all the extra workload they have to process people who are on their way out."

More at link

So, there's so many people wanting out that they have a high demand on their services and extra workload so they have to charge more to try and slow the demand down.

[dirtpig67]

Y'all had better recognize.
The Soviet Union did exactly that and more for someone to leave.

So did the Nazis.....

http://www.ushmm.org/m/pdfs/20020516...on-germany.pdf

[Oscar Wilde]

So, ya gotta pay to unbecome an American .... what haven't they covered with a fee of some sort?

O.W.

[dirtpig67]

So, ya gotta pay to unbecome an American ....

This is an obvious move by the US government to discourage/prevent Americans from giving up their citizenship. It will also likely make such a choice a financial impossibility for many people now.

They must be seriously worried about too many people heading for the exits to implement fees that are so outside the international norm for this sort of thing: http://isaacbrocksociety.ca/2014/08/...omment-page-1/

[awesome1]

This is an obvious move by the US government to discourage/prevent Americans from giving up their citizenship. It will also likely make such a choice a financial impossibility for many people now.

They must be seriously worried about too many people heading for the exits to implement fees that are so outside the international norm for this sort of thing: http://isaacbrocksociety.ca/2014/08/...omment-page-1/

I dont think an additional 1900 is going to discourage anyone that is serious about leaving the US and giving up citizenship. 1900 to most people is chump change. Well people that are thinking of leaving anyway.