In 2014, a record number of Americans renounced their citizenship with an even greater number repatriating to live outside the United States. And this number is not slowing down as through the first quarter of 2015, a record 1335 Americans have discharged their allegiance to the U.S., which at current levels, would make 2015 an even greater year than last by more than 50%.
A record number of Americans gave up their US citizenship in the first quarter of 2015, according to IRS data. This is blamed on the taxation of income earned outside the US, along with laws expanding offshore bank account and asset reporting.
A total of 1,335 people renounced US citizenship during the first three months of the year, topping the previous record by 18 percent, according to data compiled by Bloomberg.
The new figure puts 2015 on track to exceed last year’s 3,415 renunciations, which is an all-time record. – Russia Today
There are numerous factors behind so many Americans choosing to leave behind their citizenship, with economic, political, and geo-political reasons being the primary ones. Since 9/11, and then again after the 2008 Credit Crisis, the U.S. government has installed a myriad of draconian laws that are not only unconstitutional, but have destroyed the very foundations of what America stood for when it was established in 1789.
Some of the most popular places Americans are relocating to are Costa Rica, Ecuador, Panama, and Thailand. And minus the loss of gun rights and a lack of freedom of gun ownership in several of these countries, the economic benefits, as well as the absence of a police state, have proven to be much more beneficial than the multitude of freedoms lost in the U.S. because of ideological politicians, and destructive central bank policies.
To think that repatriation is simply a reaction by a niche segment of Americans is far from the truth. Former President George Bush and his family have purchased thousands of acres of land in the country of Paraguay as a means of escape one day, and during the annual Davos Forum in Switzerland this year, a key conference dealt with plans and ideas for the elite to ‘bug out’ in the case of a crisis, with many buying land and building bunkers out of fear from some future event.
America is no longer the land of the free, and has emerged into a quasi form of fascism and police state. And with the government now willing to illegally override the long standing Posse Comitatus law by having the military active and armed in several states during their Jade Helm exercise, the number of people living within the United States deciding to renounce their citizenship and repatriate elsewhere will only increase.
Kenneth Schortgen Jr is a writer for Secretsofthefed.com, Examiner.com, Roguemoney.net, and To the Death Media, and hosts the popular web blog, The Daily Economist. Ken can also be heard Wednesday afternoons giving an weekly economic report on the Angel Clark radio show.