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Record number of people giving up US CITIZENSHIP. Heres Why
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Date: August 9th, 2020 10:24 PM Author: useless weed whacker keepsake machete A record number of people are giving up their US citizenship, according to new research. Here's why (CNN) — A record number of people are giving up their US citizenship, new research published on Sunday found.
More than 5,800 Americans gave up their citizenship in the first six months of 2020 compared to the 2,072 Americans who renounced their citizenship in all of 2019, according to Bambridge Accountants, a New York-based firm specializing in US expat tax, UK expats, actors and other creatives in the US and the UK.
The firm said it examined public data, published by the US government every three months, of the names of all Americans who give up their citizenship.
"These are mainly people who already left the US and just decided they've had enough of everything," Alistair Bambridge, a partner at Bambridge Accountants, told CNN.
"What we've seen is people are over everything happening with President Donald Trump, how the coronavirus pandemic is being handled, and the political policies in the US at the moment."
About a fifth of adults in the US have moved due to Covid-19 or know someone who did, a new study shows While many people who renounced their citizenship complain of being unhappy with today's current political climate in the US, another reason for their decision is often taxes, according to Bambridge.
US citizens living abroad are still required to file tax returns every year, report their foreign bank accounts, investments, and pensions, he said. While these citizens were able to claim the $1,200 stimulus checks and $500 for each child, for many, the annual US tax reporting "is just too much."
Americans who want to relinquish their citizenship must pay $2,350 and appear in person at the US embassy in their country if they are not in America. Despite the risks that come with giving up a US citizenship, Bambridge predicts that the trend will only continue going up.
"A lot of people are waiting for the November election to see what's going to happen," he said. "If President Trump is reelected, we believe there will be another wave of people who will decide to renounce their citizenship." |
Date: August 9th, 2020 10:24 PM Author: bisexual bawdyhouse tattoo 180 (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730687) |
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Date: August 10th, 2020 7:10 AM Author: amethyst church building quadroon (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731738) |
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Date: August 9th, 2020 10:25 PM Author: deep hell pisswyrm It’s all the oppressed blacks fleeing to Ghana (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730689) |
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Date: August 9th, 2020 10:32 PM Author: silver party of the first part there have been at least 3 such profiled in nyt (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730723) |
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Date: August 9th, 2020 10:25 PM Author: jade liquid oxygen "If President Trump is reelected, we believe there will be another wave of people who will decide to renounce their citizenship." 180 |
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Date: August 9th, 2020 10:28 PM Author: deep hell pisswyrm (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730703) |
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Date: August 9th, 2020 10:33 PM Author: Awkward incel garrison (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730726) |
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Date: August 9th, 2020 10:33 PM Author: Glassy Main People (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730728) |
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Date: August 9th, 2020 11:26 PM Author: Drab Wild National Deer Antler good. they all have to go back. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730997) |
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Date: August 9th, 2020 11:42 PM Author: slippery house immigrant (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731104) |
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Date: August 10th, 2020 12:00 AM Author: Dull theater stage karate Pretty sure this prediction is the OPPOSITE of the truth, like most things you read on CNN. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731208) |
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Date: August 9th, 2020 10:25 PM Author: Mauve razzle-dazzle piazza Tired of trump but also tried of taxes? (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730691) |
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Date: August 9th, 2020 10:33 PM Author: silver party of the first part lol, trump has done nothing for the middle class (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730727) |
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Date: August 9th, 2020 10:39 PM Author: khaki kink-friendly locale half the guys i work with on the ford assembly line are making plans to renounce their citizenship for tax purposes
they are fed up with trump not keeping his promises
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Date: August 9th, 2020 11:26 PM Author: electric erotic theater wagecucks horrible how FUCKED blue collar workers have been the past 4 years (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730995) |
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Date: August 9th, 2020 10:32 PM Author: Ruddy comical jew "What we've seen is people are over everything happening with President Donald Trump, how the coronavirus pandemic is being handled, and the political policies in the US at the moment."
LMAO, yes, let's just permanently renounce our citizenship because Drumpf rather than wait 90 days to see if he loses.
It's obviously because of the George Floyd nonsense. |
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Date: August 9th, 2020 10:32 PM Author: deep hell pisswyrm Flame. Trump wasn’t potus last year. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730724) |
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Date: August 9th, 2020 10:33 PM Author: Frisky Hall Due to globalization there are probably more and more overseas randos around the world who happen to have dual US citizenship as an accident of birth, and then realize once they become adults that they don't want to pay taxes to the US every year for no reason. Example: Boris Johnson. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730730) |
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Date: August 9th, 2020 11:24 PM Author: claret embarrassed to the bone casino And some countries force you to choose at 18. Can’t be a dual citizen forever (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730989) |
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Date: August 9th, 2020 10:35 PM Author: Concupiscible Canary Internal Respiration if you live abroad and want to do so permanently it makes no sense to keep your american citizenship due to the taxes (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40730735) |
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Date: August 10th, 2020 7:07 AM Author: Rough-skinned Crawly Market Rigpig that's not quite true, there's the Foreign Earned Income Exclusion. i believe that if you were a nomadic tech bro, you could even structure your living situation in such as a way that you're hardly paying taxes anywhere. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731732) |
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Date: August 9th, 2020 10:42 PM Author: Histrionic orchestra pit preventive strike 5800 people is nothing. Could be complete randos who had dual citizenship or something like a poaster above said.
Or Hollywood celebs who can just eff off anyway. |
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Date: August 9th, 2020 11:28 PM Author: Stimulating step-uncle's house circlehead "About a fifth of adults in the US have moved due to Covid-19 or know someone who did"
what? |
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Date: August 9th, 2020 11:41 PM Author: khaki kink-friendly locale (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731096) |
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Date: August 9th, 2020 11:54 PM Author: Glassy Main People i have to imagine the "or know someone who did" is doing a lot of work there, but wtf? (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731175) |
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Date: August 10th, 2020 12:02 AM Author: Frisky Hall Well this would include every single college student, for one. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731218) |
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Date: August 10th, 2020 11:03 AM Author: red mind-boggling ceo filthpig They just make this shit up now man. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40732258) |
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Date: August 10th, 2020 7:10 AM Author: Racy Dingle Berry Jap Imagine how many will flee if insane libs retake power. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731737) |
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Date: August 10th, 2020 7:11 AM Author: amethyst church building quadroon (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731740) |
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Date: August 10th, 2020 7:22 AM Author: unholy rusted puppy faggotry Even if/when I get another passport i wont give up my US citizenship. Kinda silly tbh, there are ways to mitigate any extra tax. I hardly pay anything extra, though, Im taxed pretty highly in the UK already. (http://www.autoadmit.com/thread.php?thread_id=4600637&forum_id=2#40731763) |