Big Guy Posted February 11, 2016 Report Posted February 11, 2016 Apparently, the last three years have seen record number of people who maintained Canadian and American citizenship renouncing their American citizenship. http://www.bbc.com/news/35383435 There is such a rush that it is now taking about a year to renounce your American citizenship. First, I thought it was the pick of Republican candidates but apparently it is the Americans wanting their financial pound of flesh. What I found interesting was that many Canadian citizens assume that is what they are except they are mistaken. Only in America. Pity. Quote Note - For those expecting a response from Big Guy: I generally do not read or respond to posts longer then 300 words nor to parsed comments.
bush_cheney2004 Posted February 11, 2016 Report Posted February 11, 2016 Interesting....we actually had another American citizen renounce his Canadian citizenship to run for President of the United States. Apparently he can't do that in Canada. Such a pity. Quote Economics trumps Virtue.
ReeferMadness Posted February 11, 2016 Report Posted February 11, 2016 Interesting....we actually had another American citizen renounce his Canadian citizenship to run for President of the United States. Keep him.... please. Quote Unlimited economic growth has the marvelous quality of stilling discontent while preserving privilege, a fact that has not gone unnoticed among liberal economists. - Noam Chomsky It is difficult to get a man to understand something, when his salary depends on his not understanding it. - Upton Sinclair
ReeferMadness Posted February 11, 2016 Report Posted February 11, 2016 Apparently, the last three years have seen record number of people who maintained Canadian and American citizenship renouncing their American citizenship. http://www.bbc.com/news/35383435 There is such a rush that it is now taking about a year to renounce your American citizenship. First, I thought it was the pick of Republican candidates but apparently it is the Americans wanting their financial pound of flesh. What I found interesting was that many Canadian citizens assume that is what they are except they are mistaken. Only in America. Pity. Punitive rules to inflict pain on low income people living outside the USA but little taxation on billionaires living inside the country. I'm not surprised. Quote Unlimited economic growth has the marvelous quality of stilling discontent while preserving privilege, a fact that has not gone unnoticed among liberal economists. - Noam Chomsky It is difficult to get a man to understand something, when his salary depends on his not understanding it. - Upton Sinclair
On Guard for Thee Posted February 11, 2016 Report Posted February 11, 2016 Interesting....we actually had another American citizen renounce his Canadian citizenship to run for President of the United States. Apparently he can't do that in Canada. Such a pity. Is he Canadian or American? Make up your mind please. Quote
Shady Posted February 11, 2016 Report Posted February 11, 2016 Renouncing of citizenship has been on the rise because Obama's eff'd things up so badly. Quote
On Guard for Thee Posted February 11, 2016 Report Posted February 11, 2016 Renouncing of citizenship has been on the rise because Obama's eff'd things up so badly. He did a lot better for their economy than Harper did for ours. I think we know who eff'd up the worst. Quote
cybercoma Posted February 11, 2016 Report Posted February 11, 2016 Renouncing of citizenship has been on the rise because Obama's eff'd things up so badly.By what metric? Quote
msj Posted February 11, 2016 Report Posted February 11, 2016 This is about mundane things: the US taxation based on citizenship rather than residency leading to increased compliance costs in order to live outside the US while wishing to visit the US, the US demanding foreign banks to report holdings of US citizens, etc etc. Our firm has a client who had the misfortune of being born in the US and living her first 10 months there before coming back to Canada. You would never know she was an American; they look just like us. Alas, the thousands of dollars paid to a US CPA to become fully compliant with US tax laws has been enough to make her only Canadian going forward. It's just easier and cheaper in some cases. Quote If a believer demands that I, as a non-believer, observe his taboos in the public domain, he is not asking for my respect but for my submission. And that is incompatible with a secular democracy. Flemming Rose (Dutch journalist) My biggest takeaway from economics is that the past wasn't as good as you remember, the present isn't as bad as you think, and the future will be better than you anticipate. Morgan Housel http://www.fool.com/investing/general/2016/01/14/things-im-pretty-sure-about.aspx
bush_cheney2004 Posted February 11, 2016 Report Posted February 11, 2016 .....It's just easier and cheaper in some cases. ...but cheaper and easier in other cases to keep to seek and keep dual citizenship. I'd bet that more Canadians swing that way. Quote Economics trumps Virtue.
msj Posted February 11, 2016 Report Posted February 11, 2016 ...but cheaper and easier in other cases to keep to seek and keep dual citizenship. I'd bet that more Canadians swing that way. Certainly. It's often easier to file each year (the default position) than force active change so that you don't have to file each year. Besides, it sounds like a good backup plan: dual citizenship, for when Canada goes to hell one can always go back "home." Quote If a believer demands that I, as a non-believer, observe his taboos in the public domain, he is not asking for my respect but for my submission. And that is incompatible with a secular democracy. Flemming Rose (Dutch journalist) My biggest takeaway from economics is that the past wasn't as good as you remember, the present isn't as bad as you think, and the future will be better than you anticipate. Morgan Housel http://www.fool.com/investing/general/2016/01/14/things-im-pretty-sure-about.aspx
Shady Posted February 11, 2016 Report Posted February 11, 2016 By what metric? The metric of counting the number of people renouncing. A record number of Americans are renouncing their U.S. citizenship in 2015, new figures released by the federal government show. http://dailycaller.com/2015/10/28/report-americans-are-renouncing-citizenship-at-record-rates/#ixzz3zs6wOr7U Quote
BubberMiley Posted February 11, 2016 Report Posted February 11, 2016 (edited) That would be because the IRS has cracked down on dual citizens who live and work outside of the country not filing returns. Even those who have not lived in the U.S. since infancy. It can be a big hassle and expense to file a return, even if you don't owe them any taxes. But then again, it could be Obama-hate. Edited February 11, 2016 by BubberMiley Quote "I think it's fun watching the waldick get all excited/knickers in a knot over something." -scribblet
Shady Posted February 11, 2016 Report Posted February 11, 2016 That would be because the IRS has cracked down on dual citizens who live and work outside of the country not filing returns. Even those who have not lived in the U.S. since infancy. It can be a big hassle and expense to file a return, even if you don't owe them any taxes. But then again, it could be Obama-hate. Maybe the Obama administration shouldn't have made it such a hassel. Quote
BubberMiley Posted February 11, 2016 Report Posted February 11, 2016 (edited) Maybe the Obama administration shouldn't have made it such a hassel.They didn't make it a hassle. It's always been a hassle. The crackdown on citizens living elsewhere who don't file IRS returns every year has come under the Obama administration though, so there's a bone for you. Edited February 11, 2016 by BubberMiley Quote "I think it's fun watching the waldick get all excited/knickers in a knot over something." -scribblet
cybercoma Posted February 12, 2016 Report Posted February 12, 2016 The metric of counting the number of people renouncing. A record number of Americans are renouncing their U.S. citizenship in 2015, new figures released by the federal government show.[/size]http://dailycaller.com/2015/10/28/report-americans-are-renouncing-citizenship-at-record-rates/#ixzz3zs6wOr7U[/size] By what metric has Obama eff'd things up? Quote
Wilber Posted February 15, 2016 Report Posted February 15, 2016 Interesting....we actually had another American citizen renounce his Canadian citizenship to run for President of the United States. Apparently he can't do that in Canada. Such a pity. Bonus, now we don't have to let him into the country. Quote "Never trust a man who has not a single redeeming vice". WSC
WestCoastRunner Posted February 15, 2016 Report Posted February 15, 2016 Bonus, now we don't have to let him into the country. God works in mysterious ways. Quote I love to see a young girl go out and grab the world by the lapels. Life's a bitch. You've got to go out and kick ass. - Maya Angelou
bush_cheney2004 Posted February 15, 2016 Report Posted February 15, 2016 Bonus, now we don't have to let him into the country. You will if he becomes U.S. president. Quote Economics trumps Virtue.
WestCoastRunner Posted February 15, 2016 Report Posted February 15, 2016 You will if he becomes U.S. president. not going to happen. Quote I love to see a young girl go out and grab the world by the lapels. Life's a bitch. You've got to go out and kick ass. - Maya Angelou
bush_cheney2004 Posted February 15, 2016 Report Posted February 15, 2016 not going to happen. Hope not...don't want no foreigner president from Canada....no way. Quote Economics trumps Virtue.
WestCoastRunner Posted February 15, 2016 Report Posted February 15, 2016 Hope not...don't want no foreigner president from Canada....no way. No, what you mean is America doesn't want some radical religious freak as president. Quote I love to see a young girl go out and grab the world by the lapels. Life's a bitch. You've got to go out and kick ass. - Maya Angelou
bush_cheney2004 Posted February 15, 2016 Report Posted February 15, 2016 No, what you mean is America doesn't want some radical religious freak as president. That too, but it's the same issue Canada faced with potential PMs having French citizenship (e.g. Stephane Dion). Loyalty would be questioned. Quote Economics trumps Virtue.
WestCoastRunner Posted February 15, 2016 Report Posted February 15, 2016 That too, but it's the same issue Canada faced with potential PMs having French citizenship (e.g. Stephane Dion). Loyalty would be questioned. I'm pretty sure it's more to do with his freakish religious policies. Quote I love to see a young girl go out and grab the world by the lapels. Life's a bitch. You've got to go out and kick ass. - Maya Angelou
bush_cheney2004 Posted February 15, 2016 Report Posted February 15, 2016 I'm pretty sure it's more to do with his freakish religious policies. No freakier than PM Trudeau's. Wins some votes...loses others. Quote Economics trumps Virtue.
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