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Middle Class Americans Abroad Don’t Renounce US Citizenship Because They Want To! They Renounce Because They Have To!

December 27, 2021

December 27, 2021 - Participants include:

John Richardson - @Expatriationlaw

Jimi Gosart - Vice-President Republicans Overseas

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As President John F. Kennedy said:

"The great enemy of the truth is very often not the lie, deliberate, contrived and dishonest, but the myth, persistent, persuasive and unrealistic."

The Myth: Various media outlets continue to preach the "myth" that its wealthy Americans who are renouncing US citizenship (to avoid US taxation).

The Truth: It's middle class Americans abroad who are renouncing US citizenship. They are not renouncing because they want to. They are renouncing because they are forced to (if they wish to engage in normal financial and retirement planning in their country of residence).

In this episode Republicans Overseas Vice President Jim Gosart and John Richardson discuss these issues.

The fact that Americans abroad cannot survive under the US tax system is one more reason why the only solution for Americans abroad is:

Pure residence-based taxation - No Carveouts and No Left outs!

Pure residence-based taxation will solve the all problems for all people all the time!

 

 

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