More Overseas Americans are Renouncing Citizenship

[Bible_Belt]

I never knew one had to pay money to renounce citizenship. So if you exit the US, you have to pay the government a ransom to leave you alone after you go.

http://money.cnn.com/2016/02/18/news/us-expat-tax-revenue/

The U.S. government has collected about $12.6 million in fees since fall 2014, after quintupling the amount it charges for renunciations, according to a CNNMoney analysis of official data. That's more than double the total it garnered over the six previous years.

U.S. citizens and long-term residents now pay $2,350 apiece to ditch their passports or green cards, up from $450 previously.

The higher renunciation charges have come at a time when more people than ever are cutting ties to the U.S.

Last year, 4,279 Americans bid Uncle Sam farewell, up 20% from 2014. That's 18 times as many as in 2008, and the third year in a row that's set a new record....

 

[Bible_Belt]

I'd guess the list of countries who would tell the US government to fvck off when they tried to collect those taxes would be a long list. Care would need to be taken about how funds were stored. A bank with a branch in the US is going to do whatever the IRS tells it to do.