Freedomshift

Over the last two years, the U.S. has had a spike in expatriations. It isn’t exactly Ellis Island in reverse, but it’s more than a dribble. With global tax reporting and FATCA, the list of the individuals  who renounced is up. For 2013, there was a 221% increase, with  record numbers of Americans renouncing . The Treasury Department is required to publish a  quarterly list , but these numbers are under-stated, some say considerably. The presence or absence of tax motivation is no longer relevant, but that could change. After Facebook co-founder Eduardo Saverin  departed for Singapore, Senators  Chuck Schumer  and Bob Casey introduced a bill to double the exit tax to 30% for anyone leaving the U.S. for tax reasons. That hasn’t happened, but taxes are still a big issue for many. Read more: here