Want to Pay Less Taxes? Go abroad!

According to this report by the New York Times, there is a significant portion of ex-americans who have renounced their citizenship because of stiff tax penalties (Don’t ask them to confirm that though.). This is another clear example of economics in action. People who live abroad presumably do so because they prefer to live there rather than in the united states. In some cases, I am sure that it is due to a family or a relationship issue. However, in the cases that it is not strictly a relationship issue, there is likely some monetary reason that these people live outside of the United States even though they are US citizens.

Written by Jed Pittman on January 9th, 2007 with 1 comment.
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