Why Are Americans Giving Up Their Citizenship? (Congress, wages, legal)
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Speaking English is a big plus in Europe. While we scoff at English here in the US, English is the language of business.
In most of Europe bankers and banks are highly regulated and throw in the Euro debt crisis, I don't see lots of people deciding to move their finance career to Europe.
In most of Europe bankers and banks are highly regulated and throw in the Euro debt crisis, I don't see lots of people deciding to move their finance career to Europe.
English is a common language of international business.
Unlike Americans, most educated Europeans are multilingual.
I didn't mean to go off on a tangent with only banking.
English is the global language of all business including IT, medical, teaching, etc.
And it's not just Europe but Asia as well that seem to be attracting college educated American workers.
Notice I said college educated. We have a small brain drain going on in the US but not as bad as other austerity stricken countries.
Any thread that begins with "why" is begging the question.
Most people are not aware of the new law coming into effect next July.
They just see the headlines that Americans giving up citizenship has increased 6x so far this year.
As I read the article, it seemed to me that the problem was NOT in paying taxes, the problem is in the record keeping that will be required.
Bureaucracy at its finest!
When will our government realize that the truly WEALTHY can afford to leave and never return, AND take their money with them. Maybe, just MAYBE, it would be good for the country if they did NOT do that!
As I read the article, it seemed to me that the problem was NOT in paying taxes, the problem is in the record keeping that will be required.
Bureaucracy at its finest!
When will our government realize that the truly WEALTHY can afford to leave and never return, AND take their money with them. Maybe, just MAYBE, it would be good for the country if they did NOT do that!
That is the problem. And it doesn't even involve any US based income..it's based on citizenship.
You could be living in Europe and not have a dime of US based income and still be subject to the heavy paperwork load as well as your bank and any other financial institution that has you as a customer.
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