Thursday, June 19, 2008
America's Berlin Wall
Anyone interested in renouncing their U.S. citizenship? Tired of that U.S. passport and ready to give it up? Here is a link to a very interesting and, at least for me, unexpected article in The Economist magazine regarding a proposed law to heavily tax expats on their net worth of US$ 2 million or more, if they surrender their passports and renounce their U.S. citizenship. Reading this article would have had little impact on me before my move to Canada. I don't, however, have this kind of wealth (yet?), Canada and the U.S. currently have a taxation agreement, and I will always keep my U.S. citizenship.