I was thinking the same thing. 1500 seems very small to me, and I'm suprised the number isn't bigger.
It makes absolutely no sense to me to pay taxes while living abroad. What do the taxes go to? Mainly to wars, but also to programs that are confined to US borders. Its like being a member of 24 hour fitness but never actually going. All you have is the access card.
Agree %100 Yet, millions of people are trying to get a green card not knowing the consequences in the long term. We have millions of poor people waiting to get in the country and thousands of rich citizens who pay most of the taxes to Govt, trying to renounce citizenship. Not a good sight if you ask me
10,000 to 15,000 is still a very small number. Put it into perspective of the total USA population of ~ 308 million. This is only 0.003%.
agree with the gym membership theory. all you do is pay up with no benefits unless you agree to return someday... wait is social security still around? lol
The way the budget deficit negotiations are going, I can tell they will abolish Medicare and then Medicaid. Eventually, this will happen. Then they will abolish the deductions and exemptions from the IRS tax code and then raise the taxes on all income levels. Then they will reduce the defense spending. But these are all temporary measures. These will not help the US to recover the budget deficit nor the ever rising total deficit. This is a sinking ship, the early you get out, the better you are. We will see more and more people annuling citizenship in the coming years. And the composition of immigrants to USA is changing from European descendants to African, Latin American, Arabs and Indians. This should tell you something about the future of US. Wait and see...
.003% is not news worthy. Second, I just got my "GLOBAL PASS" after a prob up my arse and 10000000 questions with some asking information from 25 years ago. However, this gets me in and out of the country faster than the average citizen and less Hassle. There are few key states that you can move to that are not imploding and have serious growth in their economy. Expat is only wise if you plan on never returning and giving up your US citizenship and Pass port.
I don't know about legal implications, but you'll forgo all the Social Security/Self Employment tax you've paid in for decades as an adult. That can be a princely sum.
They can get your ass in Sweden. There are plenty of implications. No longer can you earn money as a US citizen and try and hide it. Sorry boys, I think you better do your research than talk out the side of your arses. All Global Banks have agreed to work with the IRS. Do not kid yourself, you can't run away with out implications unless you totally give up your CITIZENSHIP. YOU WILL BE TAXED AND IF YOU DO NOT PAY, FUNDS WILL BE FROZEN BY THE IRS via GLOBAL BANKING SYSTEM. Fuck, what do most of you guys do for a living? This is old ass news.