Last year the U.S. experienced something that hasn’t definitively occurred since the Great Depression: More people moved out than moved in. The Trump administration has hailed the exodus—negative net migration—as the fulfillment of its promise to ramp up deportations and restrict new visas. Beneath the stormy optics of that immigration crackdown, however, lies a less-noticed reversal: America’s own citizens are leaving in record numbers, replanting themselves and their families in lands they find more affordable and safe.
Thanks for the well laid out response. I learned a lot, and my assumption on renouncing citizenship were along the same lines as:
Yeah, it’s more: “Oh, you want to renounce? Guess we better audit your last 5 years of tax returns with a fine-toothed comb.” In addition, you have to do two separate interviews with US officials, plus pay a $2.5k USD fee. Plus, you might be hit with an exit tax if you have any wealth – and that includes retirees who are counting on using that wealth for their retirement.