Wednesday, January 8, 2014
Jessica Dorfmann in the Harvard International Review writes about the costs, not benefits, of U.S. citizenship: "Citizenship in the United States affords many benefits - most notably the right to live, work, and vote in a global powerhouse nation. But, in recent years, Americans have been relinquishing their citizenship in record numbers – total annual renunciations have jumped more than ten-fold since 2006. For United States citizens living abroad, the hidden costs of their citizenship are high and the advantages relatively few. The United States is the only country in the world to still practice citizenship-based taxation regardless of residence. And this archaic policy is not only unjustified, but is frustrating and alienating expatriates across the globe." (emphasis added).