Source:CNBC– talking about tax reform.
“Tina Turner did it, as well as Denise Rich and Eduardo Saverin.
As U.S. taxpayers expatriate at record rates, some experts say a complex IRS tax code could be to blame.
So far this year, 2,369 people have either given up their U.S. passports or surrendered their green cards after long-term residency, according to Andrew Mitchel, a tax lawyer in Centerbrook, Conn., who watches the data closely.
(Read more: U.S. expats reach record in 2013)
The number represents a 33 percent jump from the previous record, set in 2011, when the Treasury Department published the names of 1,781 expatriates. With another quarter to report, this record-breaking total likely will go even higher.”
From CNBC
I”m not sure it’s the high taxes that drive Americans out of America, or the fact that Uncle Sam’s favorite book (also known as the U.S. Tax Code) is so damn complicated and long, that you would have to be on an extended vacation (perhaps up north on a fishing trip, as mobsters like to say) to have the time and perhaps be able to speak 10 different languages all at once to be able to understand the tax code, to know enough about to not end up in jail for some type of tax evasion.
Iff you have a lot of money and perhaps aren’t trying to hide your wealth so much as you don’t want to get arrested for violating some law you’ve never heard of, let alone are able to understand (perhaps because you only speak one language) that’s driving wealthy taxpayers out of America. Perhaps this is something that Congress can debate if they ever get serious about tax reform again.
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