From a recent post on Duncan’s website. Transcript and commentary after the jump.
00:00/Announcer: While many Americans are struggling to make ends meet, there is a growing trend among some of America’s ultra-wealthy: they are willing to give up their U.S. citizenship, in many cases to save money in taxes.
Clearly if two people renouncing citizenship are ultra-wealthy, then all 1,800 must be!
Cartoon by Randall Munroe/xkcd.org; licensed CC-BY-NC 2.5
Lynnley Browning (Twitter: @LynnleyBrowning) brings us the two-and-a-half-month old news that songwriter Denise Rich, the ex-wife of Marc Rich, had her name published in the Federal Register back in April due to her renunciation of U.S. citizenship in November 2011. Her editors at Reuters seem to have decided that a neutral statement of the aforesaid fact wasn’t good enough for the headline, so they pushed it out over the wires it as the inflammatory “Socialite Denise Rich dumps U.S. passport”. The story has also been picked up by HuffPost and MSNBC.