Obama makes wealthy Americans flee the country at the same time he is offering asylum for uneducated people

Obama's Foreign Account Tax Compliance Act of 2009 is having a real impact, scaring away many of the most productive Americans.  At the same time we are offering asylum for poorly educated foreigners we are scaring away many brilliant minds.  From the WSJ:
The U.S.'s crackdown on global tax evaders is leading to a record number of people renouncing their citizenship, and its effects are being felt keenly in Asianow the world's wealthiest region by household assets.
A growing number of wealthy Americans in Asia—and others with green cards—are exploring whether to renounce their U.S. citizenship or give up their green cards to avoid onerous tax obligations.
Globally, more U.S. citizens have renounced their citizenship in the first and second quarters than all of 2012 combined, and 2013 is already on track to becoming a record year for renunciations. A total of 1,130 names appeared on the latest list of renunciations from the Internal Revenue Service, according to Andrew Mitchel, a tax lawyer who tracks the data. That is far above the previous high of 679, set in the first quarter, and more than were reported in all of 2012. . . .

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Blogger Unknown said...

It's a diabolically simple plan. Flood the country with low life's - give them phones and food stamps, etc. And, tax the successful out of the country with the "fair share" B.S. policies and make sure there are no complicated I.D.s required to vote and "presto" - landslide victories for the Democrats! On into the future . . .

If that's not a nightmare I don't know what is.

Molon Labe!

8/12/2013 6:44 PM  

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