According to the article at the URL below rich Americans are
renouncing their US citizenship at a record rate. I see two responses to this trend.
1. Impose a higher penalty for renouncing US
citizenship or
2. Remove the reason people are renouncing their US
citizenship
Of the two possible corrective actions above I would predict
that one’s preference would be pretty much split along party lines or if you like conservative/liberal. To avoid being evasive I will note that my
preference would be to address the root cause.
I try to observe the "Don't hate the player hate the game" dictum when thinking about social-political maneuvers like this one. But, I'm pretty much a USA-first kind of person, and I have to say that the idea of renouncing citizenship to avoid taxes is a little hard for me to stomach.
ReplyDeleteI wouldn't mind some carrot AND some stick here.