Two journalists, Sanat Vallikappen (vallikappen@bloomberg.net) from Bloomberg and Josh Spero (Josh.Spero@spearswms.com) from Spears Wealth Management Magazine are preparing articles on issues affecting Americans living and working overseas. They are looking to speak to Americans on these issues. If you would like to know more about their upcoming articles and potentially contribute please contact them at the emails listed above.
Hi, Nobledreamer.
I haven’t heard from Vivienne Walt since I sent her some of my information. mail@vivwalt.com is her email. Send her a note to see if she is still looking for people to interview for the story she is working on. That would be great if you can contribute more.
@Innocente
Agree completely. I renounced US citizenship last week, but I don’t feel like I’ve “downgraded myself” at all. As an EU passport holder I can actually travel to essentially identical countries as I could with the US one visa free, and some that charges US passport holders reciprocity fees like Brazil don’t charge Europeans anything. Countries that do require visas tend to have easier and cheaper visas for EU citizens than for US ones, and a notable example of this difference can be seen with the longer visa forms for US citizens to go to Russia.
The work opportunities available in the 27+4 countries of the EEA rival that in the US as well, providing that you have some foreign language expertise (which I think that anyone residing in the EU after a little while would pick up naturally anyway!).
By the way, 12 years to get citizenship is absurd. At least they stopped having popular votes on citizenship applications in some of the cantons there! That is still a really desirable citizenship to have though, especially seeing as they don’t list your place of birth in the passport!
A new article from the NEW YORK POST by Paul Tharp
“US citizens leaving the country to avoid stiff tax bills”
http://www.nypost.com/p/news/business/more_citizens_vote_with_their_feet_CTshpQumBXMZmUXsfw6OTM?utm_medium=rss&utm_content=Business
An interesting passage:
“As many as 8,000 US citizens are projected by immigration officials to renounce in 2012, or about 154 a week, versus 3,805 in 2011, or about 73 per week.” — Hmm.
The journalist (like most uniformed people) labels everyone renouncing / relinquishing US citizenship as being “wealthy.” Moreover, he completely misses the injustices faced by Americans abroad e.g. taxation without representation and no government services, mind boggling complexity with draconian penalties etc.
Hopefully Ms. Ms. Vivienne Walt from TIME and Messrs. Vallikappen and Spero from Bloomberg and Spears Wealth Management get the story straight.
@Expat4ever…
Well, that is one shoddy piece of journalism, but it is the New York Post, so what do you expect? They are terrible! I am sure Murdoch will get a good chuckle when he reads what his journalist is saying.
I notice that he lists as tax havens “from places with much lower tax rates” … Among the popular spots: Australia, Norway,
Guess, he forgot to check the tax rates in those locations which totally destroys his opening narrative premise that…
Not sure how they will do that in Australia or Norway!!
This just shows the level of ignorance of this journalist. Also, I guess he knows nothing about the “stiff tax bill” they will pay in the way of an exit tax, as they flee to “avoid stiff tax bills.” but never mind. This story wasn’t written to tell inform an audience. It is just a populous piece that attracts readers who know nothing. He would do better if he was writing for the tabloid, The Sun, so it could be accompanied by a page 3 girl!
I have looked for a way to make comments, but don’t see anything available.
@justme, I wonder where Paul Tharp got his numbers from. We know that 1781 covered ex-patriots renounced in 2011, but he claims 3,805 in total renounced last year. With the help of immigration officials he’s predicting 8,000 will renounce this year.
Given the quality of his writing, he could have just made them up based upon something he overheard in the bathroom of a local pub!
@ Calgary, Thanks. I’ve just emailed her as well as the other two mentioned. We’ll see what happens!
??? Is it only a weird coincidence that Section 3805 of Title 19 has association with
“Former citizens who renounced citizenship to avoid taxation”
Or maybe any old number from anywhere will do for a quick article?
@expat4ever
I’ve just exchanged several emails with Sanat Vallikappen and he indicated they want to get a sense of why people are renouncing and they want to tell that story by using examples of real people and the hardships they are facing. It sounds to me like he understands what we need. I will be talking to him this week and will report back on it.
He also has written quite a few articles on the subject and has a lot more perspective than the drivel of this article in ny post. Goodness, what a piece of garbage…though I admit, I DO like the sound of 8000 in 2012!
The only thing in that article that sounds reasonably credible at all is the number of renunciations for this year. You can comment on it at the bottom, but be warned that the readers seem to be a truly misinformed group. My favourite quote is from the guy who will stay in Costa Rica if the US continues down a ” down the socialist / communist / anarchist path”. Seeing as Communism and Anarchism are polar opposites and Socialism is ideologically in the middle of the two, it is clear to me that these people have no idea what they’re talking about – It would probably be a total waste of time to even try to start a dialogue over there.
NYPOST: “Startling new data from Uncle Sam show that defections by Americans are expected to double this year”
Well I guess they let the cat out of the bag on that one. We are “defectors” from “the land of the free and the home of the brave”???? How does that work? Amazing how the media can constantly spew the doublethink propaganda and the sheeple keep swallowing it.
I see the NY Post story is getting repeated as truth in journalism @PoliticalWire
Also, Obama is looking for some bundlers amongst Americans Abroad. This says he has a dozen so far. Wonder if they have heard about FBAR and FATCA?
@Just Me
Have you read any of the comments from Political Wire? I truly think that I have never seen so many mean-spirited and despicable people on a comment stream before. Half of them are calling for the usual “ban them for life” rubbish, while one guy is even calling for people who renounce to lose 80% of their net-worth. With constituents like this, I don’t think that politicians in the US are ever going to change anything and I’m glad that I got out while I could!
@Don…
I read a few, and just posted a comment and moved on. No real sense in trying to counter these guys, but decided to put one in anyway. Wanted to put the same comment on the NYPost article, but for some reason, I can not access comments. But I am up at Lake Okanagan, BC and maybe Canadians are banded from posting. I tried to watch The Daily Show from here, and I see that is blocked too.
@just me, I was able to post but it was via Facebook. How much longer will you be able to resist its lure?
I can’t find a contact for this bozo Tharp anywhere. I’d really like to know where he sourced his numbers. He needs entry into the hall of shame for inciting such hatred with his unsubstantiated ‘facts’.
@justme, the daily show is only available on TV in Canada, Colbert on net and TV in Canada. Enjoy the Okanagan!
@bubblebustin
I am still resisting the lure of Facebook! Okanagan was lovely, and if you ever get there, definitely stop by ‘Dirty Laundry’ winery in Summerland for wine tasting and picnics on the deck. Great setting!
@just me , I think we missed Dirty Laundry on our last tour of Canada’s boutique wine country. I’ll look for it next time. Do try Burrowing Owl near Oliver if you ever get a chance!
As for Facebook, I think you would make a thousand friends in no time and get to more of those who need to hear our message. Groups like “US Immigration Support” 15,000 “likes”, “Green Card Lottery 2012” 4,000 “likes”…I sometimes go to these sites to ‘enlighten’ unsuspecting people about the US’s citizenship based taxation, FBAR, and few times have heard from people who’d like to know more.
Here’s another one, “Americans in New Zealand”.
*@JustMe – You should be able to get full episodes of The Daily Show and Colbert Report from
http://www.thecomedynetwork.ca/
Also, thanks for posting the German article about how a US passport becomes a curse.
I will be able to post a report of my consular visit fairly soon. After that I would be willing to communicate with a journalist.
@anonanon, that’s awesome, I had no idea ‘.ca’