The current media narrative is anti-Trump 24-7. He is bad. And of course all those celebrities and other people are waiting in line to flee the country and renounce their citizenship. So I was contacted by a reporter of a well-known news network who is writing an article on people who are renouncing their USA citizenship because of Donald Trump. He asked me:
- If there has been an increase of traffic to isaabrocksociety.ca since the November election.
- If anyone had contacted us with questions about renouncing directly linked to Trump.
Here is my response:
There has been no uptick in traffic to our website, and no one anti-Trump has contacted me in my function at Isaac Brock. I do not predict an uptick in renunciations over Trump. People are renouncing for practical reasons. Anti-Trumpism is fanatical, but Trump has not so far caused real problems for American citizens. FATCA, citizenship taxation, the Obama enforcement of FBAR, CBT and FATCA, and the compliance condors have created real problems for so-called “Americans” abroad–especially those of us who are little older and more established financially. Trump just seems to make some American citizens really angry but has not yet substantially harmed them (at least I do not know of concrete examples).
I had one person contact me on behalf of someone who owns property here in Canada, wanting to know the tax implications of moving to Canada and how one might transfer bank assets. This person was not asking about renunciation of citizenship–just the tax implications of moving to Canada (and how to move assets). She did not know I run the Isaac Brock Society. I know her from Facebook for other reasons.
I see that one of the problems with the shrill anti-Trump narrative in the mainstream press and social media is that the wrongs done against expats have been completely ignored. When I talk about the wrongs that Obama did, I am scorned.
Trump may eventually reverse FATCA, but I do not hold out hope. Nevertheless, in the current persecution of expats Trump only continues the demonic policies of his predecessor.
Here is a reminder of why Peter Dunn relinquished his USA citizenship: