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Re: Taxes (was: Where is the Futures Industry Headed?)



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Simon wrote:
>What do you think of an American that gets a job offer abroad, moves there 
>with their family, and pays full tax to their new home and who becomes a 
>legal permanent resident there?  They have no assets, no business and no 
>income in the US.  They've made their permanent home abroad, their kids go 
>to school there, and they have no plans to ever return to the 
>U.S.....

Given the foregoing facts, they might consider expatriating.
After all, since they =never= plan to return to the U.S.,
why would they desire to retain their U.S. citizenship? They
are, in fact, perfectly free to walk into the nearest U.S.
embassy and renounce their U.S. citizenship. They'll have to
surrender their passport immediately and the renunciation is
permanent. Obviously, prior arrangements need to be made to
become a citizen of the country of their choosing.

Not that I, specifically, was asked or anything, but I find
it rather telling that very few Americans living and working
abroad "have no plans to ever return to the U.S." and even
the few that have no plans to return actually expatriate. I
guess, in some way, they feel their U.S. citizenship has
=value= (in contradistinction to the =millions= who have
fled their homelands over the years hoping to become
citizens of the U.S.).