Rongnongno Loc: FL

The following article is about US folks who give up their citizenship.

Read on and, well, what do you think?

http://www.bbc.co.uk/news/magazine-24135021

TrainNut Loc: Ridin' the rails

I wonder if I could sell mine? :? :hunf:

Blurryeyed Loc: NC Mountains.

Why would you want US citizenship anymore if you are living abroad, or even domestically, abroad I can see no advantage especially as the progressives look for more and more ways to separate you from your assets, and domestically, if you are an illegal, chances are that in many cities and states anymore if you were to cross paths with the law, they would look the other way as they for whatever reason the liberal ruling class would prefer to unleash criminal aliens upon their communities than to be perceived as intolerant. Hell, domestically as an illegal you can quit paying your taxes and collect a bunch of federal aid on top of the illicit income you are not taxed on.

venturer9 Loc: Newton, Il.

I believe that the lady said she had had dual citizenship for 23 years..... WHY...????

Mike

Rongnongno Loc: FL

IF you are referring to the French gal, it is likely because the State Department told her to as a 'safety' measure...

Reasoning:
It is safer to be French in some areas
AND
It is safer to be US in some other areas
ALSO in case of hijack show your French passport if you do not want to be singled out
French friend of mine told me that when he became US. The funniest part (for me) was when the French embassy in DC told him that he was born French and would stay that way and refused to take his passport back. That was 30 years ago. I am not sure if he still has his Froggy passport, should ask him.

Lmarc Loc: Ojojona, Honduras

A lot of those are rich people looking to avoid onerous taxes imposed from the US. I see their point, but I'm not sure I agree. I am now a permanent resident of Honduras, and will probably never return to live permanently in the US. I will not, however, renounce my US citizenship. I am proud to be an American, but here I can maintain the façade of being a citizen of the America of my father, not a citizen of what American has become.

Rongnongno Loc: FL

Rich?

Most expats are not rich. They work like you and I. The law was made to prevent tax evasion but was so poorly written that anyone can fall foul of it.

When foreign banks refuse to open a normal account and god forbid a joint account there is a problem and a serious one at that.

I would guess that a US citizen in the service and stationed abroad will be in trouble too as he or she needs a local bank account to pay for normal expense if living off base. Why is that? Banks now refuse to open accounts in fear of retaliation from the IRS and the feds under the form of heavy fines.

How about double taxation? Forms that make absolutely no sense, ceiling that is now at the level of a basement floor???

Rongnongno Loc: FL

As to 'onerous' taxes in the US... Have you checked the taxes in most European countries? Quite frankly unless forced by a contract when I was an expat, I was paying in the US, WAY cheaper than in Europe.

Lmarc Loc: Ojojona, Honduras

You are right. "Rich" was a poor choice of words on my part. I was thinking primarily of a few obvious tax evaders, money launderers, etc., who have had a long-time easy method to avoid US taxation. You are also right in saying most expats are not rich by any means. Many are retirees who find they can live on a third of what it would cost to live in the US. Those who work in a foreign country often do run into the double taxation thing, and bank accounts can be a nightmare without a lot of bureaucratic finagling.

Here in Honduras most banks will not allow anyone to open an account without a citizen ID or permanent residency card. They would really rather not hassle with accounts from foreigners, and I fear that if they are required to report a lot of information on American account-holders, they will simply close the account and refuse to do so. Record keeping here is hit-or-miss now, and if they are handed a lot of confusing additional paperwork, they will just not allow foreigner accounts.

Most banks here have reasonably modern computer and record keeping systems, but it is not unheard of to find government officials working in a tin roofed shed with an old Compaq and a dot matrix printer. If they are suddenly required to baby-sit for the IRS, they will resist or just refuse to do so.

Rongnongno Loc: FL

Personal question...

You obviously follow a soccer club. What does FCB stand for?

Lmarc Loc: Ojojona, Honduras

Futbol Club Barcelona

The primary "soccer" club in Barcelona, Spain. Great rivals of Real Madrid, also in Spain.

Actually, I follow it mainly because a lot of the family here are Barça fans, and we also have family in Barcelona, Spain. And, they are also a damn good team! :thumbup:

Rongnongno Loc: FL

Thank you.

RGG

handgunner Loc: Windsor Locks, Connecticut

Many "military children" born overseas keep their dual citizenships simply because they don't want the bother of changing it.

Lmarc Loc: Ojojona, Honduras

And it can come in mighty handy in some circumstances.

ole sarg Loc: south florida

Another reason is that in the country that is not US and is third world it is easier to take your money if you are a citizen of the country and it undergoes a rightist or leftist revolution.