Record Number Of Americans Renounce U.S. Citizenship In 2016; 2,200% Surge During Obama Reign

Tyler Durden's picture

Obama warned everyone back in 2009 that "elections have consequences."  Now, eight years later, we learn that apparently the "consequences" of running around the country for nearly a decade threatening to raise taxes, "spread the wealth around" and pursue any number of other socialist policies are a record number of people renouncing their U.S. citizenship.

Per a post from the International Tax Blog, the U.S. Treasury recently published the names of individuals who renounced their U.S. citizenship or terminated their long-term U.S. residency (“expatriated”) during the fourth quarter of 2016 and it shattered all previous records.

The number of published expatriates for 4Q 2016 was 2,365, bringing the total number for 2016 to 5,411, setting a new all-time quarterly and annual record.  By comparison, the number of expatriates for 2016 reflects a 26% increase over 2015 and a 58% increase over 2014 (3,415).

Expats

 

Taking a more granular look at the past 20 years illustrates the staggering surge in the number of published expatriates that "coincidentally" corresponds with Obama's election in 2008.  In fact, the 2016 list is over 22x larger than 2008, the year just before Obama moved into the White House. 

Expats

 

As the New York Times notes, perhaps the most notable citizenship renouncement came from British Foreign Secretary Boris Johnson who gained fame as one of the most vocal supporters of the Brexit referendum and an early critic of Trump describing him as “out of his mind” and of “a quite stupefying ignorance.”

Boris Johnson, Britain’s colorful and blustery foreign secretary, who is perhaps best known for his leading role in campaigning for his country’s departure from the European Union, has given up his American citizenship, a United States Treasury Department list showed Wednesday.

 

Born in New York, Mr. Johnson, 52, held dual citizenship until last year. He had long complained about having to pay taxes in the United States even though he was 5 when he last lived there. Unlike most countries, the United States taxes nationals who live abroad on their worldwide income.

 

Mr. Johnson, a Conservative, has not been known for his diplomatic skills. His relations with Donald J. Trump took a blow in December 2015, when he accused Mr. Trump, then a presidential candidate, of being “out of his mind” and of “a quite stupefying ignorance” that made him unfit for the presidency.

Guess we can add this to the "Obama legacy"...

Obama

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nmewn's picture

Steady as she goes ;-)

junction's picture

Obama was a New World Order creation, a person whose records were made by the "shoemakers" in the CIA.  Hawaii's Loretta Fuddy knew his birth record was a fraud, so Obama's henchmen bumped her off, drowning her after the small plane she in made a forced landing in the water.  Everyone else on board survived.  FATCA and other capital control laws are to make sure Obama's NWO (read Rothschild) bosses keep track of the money in the hands of peasants.  The USA under Bush, Clinton and Obama was run by satanists big on pedophilia and child murders.  Trump had better be careful or he could wind up like Reagan.  

Zer0head's picture

bad effing day for Donald

he meets the boy wonder Trudeau in person in DC on Monday

that should go good

Canada's PM and a bunch of his  activist deupties on record as a members of Resist

https://www.washingtonpost.com/news/post-politics/wp/2017/02/09/canadian...

(so Donald either feels compelled to show he can get on with the progressive fanatics, or he can make an example of KANADA)

my guess is the former though the latter would be great theater, either way get that popcorn maker ready to go

 

Better still, let's hope Donald has Ms Palin hiding inside that surprise giant cake the president had prepared for Justin... meet your new US ambassador to KANADA Mr. Trudeau - out she pops from the cake as Donald cajoles ... go on Sarah, plant a big sloppy wet one right on his kisser and while you're at it get him to agree to that one week wilderness dog-sled  outing in Alaska so that he can demonstrate his solitdarity with our America First goals and objectives

juangrande's picture

How many zeroes go in front of that percentage of Americans. Let's see how many leave now that the fuhrer is in charge! I'm officially leaving ZH. Once a vibrant bastion of truth, it is now a cess pool of idiotic opinion. I acknowledge the resistence ( in which this site was founded) that existed against the fascist corporatist, but the " savior" is worse than all before. Continually adding annoying ads tells me all I need to know about the current propietors  of this site. Take the money and run assholes! Fuck all of you closed minded KKK wannabees.....

stacking12321's picture

bad interpretation, tyler.

obama's not the cause of the disease, just a symptom.

if you look at the chart, it looks very much like an exponential growth curve starting around 2000.

you know, exponential, like debt in a fraudulent monetary system.

tankster's picture

I'd like to see this chart next year...

Hohum's picture

If Obama's intent was to "spread the wealth around," the policy was a failure.

stacking12321's picture

not at all.

the wealth is indeed spreading around, it's leaving the usa and going to other countries where it'll be appreciated more.

so you see, obama's policy was a smashing success.

PTR's picture

Correct me if I am wrong, but the .gov treats foreign money fairly well I thought.  (Now that these people are considered foreigners.)

shimmy's picture

I think it is a reach to blame Obozo for those leaving in the 4th quarter. If the number is even higher for 2017 then is Obozo the cause for that or would Trump get some credit?

 

ProsperD9's picture

YES....FATCA is causing much of the renounciation surge which was enacted during Obozo's reign. As America continues to deteriorate those who can will renounce. I know some who have. Before you would rarely hear of people giving up their US citizenship. It's become too much of a burden for a numer of reasons. 

DosZap's picture

That's all on Trumper.

Cassandra.Hermes's picture

it because of simple reason, Swiss HSBC leak. One of my friend renounce his citizen, otherwise he had to pay back 3.5M, ironically his Swiss account was open by Reagan administration

nmewn's picture

lol...geebus go back to HuffPo.

shovelhead's picture

Wow.

Looks like a whole lot of folks weren't hooked on ebonics.

e_goldstein's picture

That number would have at least doubled in 2017 if the Skanklesaurus had won.

Urban Redneck's picture

But it's not going to decline unless Trump moves to repeal FATCA, or create loopholes for US citizens residing overseas.

scv's picture

quoted today, the wa gov said was going to raise taxes statewide. they just will not give up

jez's picture

ZH: you are overdoing it a bit with this "staggering surge" language. The total numbers are minuscule.

 

I suggest that about 100 defections a week out of 320,000,000 is hardly worth a moment of your time.

GeorgeHayduke's picture

Anything they can cling to for presenting the story they want to tell.

Let's take a look at those numbers for 2017 in one year. I am betting that number will greatly increase as the non-Trump supporters are much more likely to have a passport, be comfortable in another country, know a 2nd language, have options for going elsewhere, have desirable skills other countries want, a better attitude for living elsewhere, etc... 

IntTheLight's picture

Whatever dude. Most of those people speak pidgin English at best and came here for welfare. They aren't leaving. And where is this elsewhere? Let me guess. Not their ancestral home but some other white country they can feed from. Funny how Democrats always extol the virtues of European countries, never Africa or the Mideast. And those who claimed they were leaving all cited white countries for their new home. I wonder why?

IntTheLight's picture

Says the man whose party is run by the tribe. Says the man who is in a party of Mexican busboys, Arab cab drivers and black gangbangers. Have I forgotten anyone? Ethiopians? Somalis? Hmong? Colombians? Oh yes, your party represents the best and brightest. The drug cartels do well for themselves, speak two languages and presumably have passports.

Don't get me wrong. The Republican Party sucks. Warmongers and cowards. But it's base is decent and hardworking.

Manic by Proxy's picture

Your assumptions are laughable. Take a large swath of non-Trump supporters, namely big city black denizens. Have passports? Nope. Be comfortable in another country? Actually, not comfortable outside of the hood. Know a second language. That is hysterical. They don't know one language. Options for going elsewhere? Where? Only if those places take SNAP, EBT. Desirable skills? Blacks and snowflakes have NO desirable skills - none. Better attitude about living elsewhere? You are simply one ignorant SFB. Go ask your mommy for some dinner.

fockewulf190's picture

If President Trump dumps FATCA, you will see a massive drop. That you can bet on.

uhland62's picture

it is, however, a very significant increase. If you see that as a trend to address you want to know; if you see it as the normal course of events not being meaningfull then you ignore it. 

sekhars's picture

mmost applications are pending. These are who completed the process. Real surge will take few years. It started to peak since FATCA introduce by Obama, 

Urban Redneck's picture

You don't appear to be a 1%er, either financially or intellectually.

black rifles are cool's picture

Well Switzerland allows some tools for self
defense but they're surrounded. I'd take my chances with two oceans and The Constitution. J

new game's picture

i would be very curious where they are going. numbers will keep climbing. but where? mexico to get a job? costa rico? but leave my family? this is my country and fuckem and good bye, so long, have a nice day.

not fooled by any of this bullshit. trump, obozo, bush, cluntin, bush, carter, regan, nixon lbj -all of these fuks fuked us over; plain and simple.

plus congress and the senate. everyone with a few exceptions fuked us and knew damn well they were fuking us for personnel gain. , influence and power.

the almight dolla rules. and the fed creates this for their folly. wars, wall street, stock buybacks, you name i,t they are all acompliances to the fed and creation of money creation machine.

nothing will change.

probably get worse, too much shit is unchangeable w/o major consequences, that nobody will accept. just too much to late. the terd is nearing the hole or necked portion and about to head into the pipe.

or put another way; who the fuck is gonna reach down to bottom of the bowl and fish out a handfull of shit? not i...

get past the denial, skip the anger and try to ignore wtf is going on. that is my new game, checking out.

trump is a fucking bully. watch and see, it is gonna get real messy fast and this guy is gonna get slapped around by bigger bullies. he will come around and all of sudden he will be on board with the money machine. watch the military machine ramp the fuk up. his border taxes will backfire. jobs will leave eventually or the businesses will fail-economic reality. 

enuf fromr me...

uhland62's picture

Australia most likely, some to New Zealand. if you are self-funded you will get in. Australia is no longer what it was after all these privatisations but still attractive, New Zealand is said to have shocking and growing pockets of poverty after too many reforms, but if you have money you can find yourself a nice spot away from the riff-raff. 

Lost in translation's picture

Are Australians allowed to own Enfields? I like Lithgow No. 1 Mk IIIs a lot...

sinbad2's picture

Wow, I haven't seen a Lee Enfield since cadets at school.

You can own any rimfire rifle, as long as it isn't auto, or semi auto.

You can own bolt action centrefire rifles, so your 303, which is what we call the Enfield would be OK.

To own an auto or semi auto, you have to be a farmer or hunter.

To own a pistol, you need to be a security guard or similar.

 

Lithgow is a coal mining town, and home to the Lithgow Small Arms Factory they are now called ADI and still make rifles, mostly the Australian version of the Steyr bullpup.

DosZap's picture

ADI ammo is some ot the very best you can get all gone now. No more being imported.

August's picture

I've lived in New Zealand for most of the last 17 years and, once you get OUT of metro Auckland, it remains a very attractive place to live.

HOWEVER if you're actually contemplating moving here, talk to a local accountant early on about the tax law which came into effect in 2007, as the "FAIR Tax" on non-NZ assets held by NZ residents.  It will definitely complicate your life, but if the US dollar goes to Hell (against the NZD), you might actually get money for nothing, straight from the NZ Government.  As it turns out, the NZD has more recently gone to Hell against the USD, and for 2015 I received a tax bill exceeding NZ$50,000 on non-existent forex gains.  Fun stuff!

any_mouse's picture

5K is still what tiny percentage of the N millions of productive citizens?

Stupid "record surge".

 

Déjà view's picture

Other than Eritrea...of 6.5b Inhabitants remaining worldwide...name any other nation whose citizens renounce due to tax laws or reporting requirements...UK: 0...Australia: 0...Canada: 0...etc...

5,000 is TOO MANY! As a U.S. citizen...attempt to open a foreign bank account...if lucky...see which VERY little investments are available! 

Foreign partnership...good luck if accepted...do not forget IRS reporting requirement on this gem...forget it and one will find out it is one of IRS most unforgiving rules...

BTW...these rules do not apply to foreigners 'hiding' their hot money in DE, NV, SD, WY LLC...

WTFU...

Farqued Up's picture

We keep hearing that Trump had better fear assassination by the big wigs that really are in control. If I were the bad guys I would be careful that the real controllers when the SHTF are the troops and they may take the attitude that piss on control, it's time to flush the whole swamp on both sides of the Atlantic. They can get the names from the hired help at Davos, Sun Valley, and the hotel du jour of the Bilderbergers.

Savvy's picture

Lean on somoene else Yanks, Canada is just fine without your crap. As is every other country on the planet.

Go away the world is better without you and your endless wars.

yttirum's picture

Go bang a goat, aye. Take advantage of Canaduh's beastiality law, tool.

SMC's picture

This planet is too small. We need a "new world".

Where is the Mayflower and when is it leaving?

Reginald Blome's picture

I'm an international small business owner and can tell you from painful personal experience that FATCA is an absolute game changer in being able to do business as an American. NO financial institution anywhere wants your business. Simple stuff becomes nearly impossible.

I've been actively planning renunciation for a number of years, I assumed Cankles was a slam dunk, but now am waiting to see how DJT v NWO battle plays out.

 

Déjà view's picture

Poker...who runs 'House'...might get 'Trumped'...

America First...would not surprise me if Trump places more hurdles on your track...

Trend has been going ONE-WAY for 60 years...

In 1958, Earl Tupper unceremoniously and abruptly kicked Brownie Wise out of the company. He didn't give any reasons. Within a year, Tupper sold out to Justin Dart of Rexall Drug Company for $16 million, and also divorced his wife. He bought himself an island in Central America, and eventually moved to Costa Rica, giving up his U.S. citizenship to avoid taxes.

http://www.pbs.org/wgbh/americanexperience/features/biography/tupperware...

JailBanksters's picture

Can't be Mexicans, so it must be AshkeNazi Jews.

Don't see a problem with that, except lena "I'm a Whore" dunham is still there.

skunzie's picture

It will be interesting to see 2017 numbers.  Are the snowflakes holding true to their word and leaving in droves yet?  Stay tuned kiddos.

Eatabanker's picture

Not a chance, that might jeopardize their allowance. 

monad's picture

Dual citizens are doubly treacherous.

stockscooter's picture

This statistic is that of people renouncing their U.S. citizenship.  These are wealthy individuals, by all measures. Can you imagine the number who have left the U.S. and haven't renounced? Most don't renounce because they want to keep their Social Security payment rolling in to pay for their apartment in Belize.  IF you renounce, you are giving-up your Social Security payment, which means you are an abnormally welathy and/or successful person.  This is a HUUUUGE statistic of renouncement!

sinbad2's picture

Most American expats keep their US citizenship, because they simply don't care. My oldest friend is from Ft Lauderdale, he hasn't been back to the states in the 54 years that I have known him, but he is still a US citizen.