this post was submitted on 08 Oct 2023
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[–] givesomefucks@lemmy.world 4 points 1 year ago (2 children)

The only people renouncing US citizenship are rich people because the US will still tax them.

The payment to renounce it is like a one time fee to not be taxed

[–] BastingChemina@slrpnk.net 2 points 1 year ago

I know that if you are a US citizen in France a lot of bank will refuse to open a bank account for you.

It's due to the fact that they need to report to the IRS the banking informations of all US citizen and they just don't want to spend any money on that.

Plus even if you are not taxed you still have to declare to the IRS your revenues every year.

Some people are US citizen without every putting a feet in the US, I totally understand that they would want to renounce their citizenship.

[–] bdonvr@thelemmy.club 1 points 1 year ago (1 children)

That's probably most of them- but there's other situations as well. Some countries require you renounce other citizenships to gain theirs.

[–] givesomefucks@lemmy.world -1 points 1 year ago

Getting pretty deep in the weeds so I may be wrong.

But I believe in that case it's not a voluntary renouncement, so it may be treated differently.

But still, you gotta be pretty wealthy to owe any money. And with the state of America, the vast amount of Americans are more deserving of sympathy and they're the ones we should be focusing on helping.

They just don't have the money for lawyers, PR campaigns, political donations, or the contacts of journalists as the wealthy people do.