, 6,707 Americans gave up their citizenships — a 237% increase from the prior year. It's particularly pronounced among some of the wealthiest, who have been leaving at more elevated rates since 2016 . , the US passport lost a big chunk of its value in 2020. Some of the reasons that the richest Americans wanted to flee? The handling of the pandemic, general social unrest, and, perhaps most importantly, the presidential election.
At the time, America's wealthiest were having a hard time finding a way out, even for vacation, since so many countries weren't allowing in Americans. , a firm that specializes in citizenship by investment programs, previously told Insider the wealthy had to adjust to not being able to travel for work or pleasure — leading to a desire to"diversify" passports.
Now, Axios reports, one concern propelling the wealthy out of the country might be taxes. President Joe Biden has proposed tax raises targeting the highest-earning in an effort to pay for infrastructure spending. Those include a 39.6% capital gains tax on Americans earning over $1 million, which would be levied in conjunction with a 3.8% Obamacare tax — resulting in a
fun fact, julianamkaplan - ultrawealthy Americans aren't renouncing in droves; Americans aren't renouncing in droves; renunciations are way down since March 2020 and it is Renouncing, not Denouncing. FATCA You call yourself progressive while making right-wing articles.
axios retract this story.
The axios has changed parts of the article after being called out for misreporting data particularly re the list of renunciations. Why are you pushing the same incorrect narrative? majority of OverseasAmericans are middle class who live in higher tax jurisdictions than the US
This is libellous and false. You have zero evidence that the people whose names are published on the renunciation list are ‘ultra wealthy’. These are real identifiable people and you are endangering their safety by publishing this. FATCA julianamkaplan jenniferkingson axios
Most likely to a country that has dual citizenship. They will apply for a US citizenship and passport with their own citizenship and passport from their new home country.
Good. Leave.
“Lady Liberty lend a hand to me” Patti Smith Group - Citizen Ship
Their greedy choice.
Change with the poor
and they don't think their destination country wont take advantage of them?
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ultrawealthy US citizens are denouncing citizenship in drovesBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Get em out. They are a drain on the economy renouncing...
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: Variety - 🏆 108. / 63 Read more »
Source: politico - 🏆 381. / 59 Read more »
Source: MarketWatch - 🏆 3. / 97 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: NBCNews - 🏆 10. / 86 Read more »