Record Numbers of Americans Leaving the U.S. & Expatriating

As a result of the financial crisis and recession in the United States (which caused and set in motion a global financial crisis like falling dominoes), record numbers of Americans are leaving the United States and expatriating in other countries; either by being a "PR" (Permanent Resident) of another country, or all out denouncing their American citizenship all together.  

In what amounts to a global "Boston Tea Party", record numbers of Americans are seeking greener pastures and opportunities elsewhere in the world and are refusing to be slaves to the IRS (Internal Revenue Service). They are seeking better tax shelters or havens elsewhere in the world.  The statistics are alarming.  Thanks to groups such as America Wave, who have been tracking this "exodus" since 2005, we have a better picture on not only the root causes but also the demographics involved as well.

The process of expatriating or denouncing one's U.S. citizenship is not as simple as merely buying a one way plane ticket and leaving the U.S. It also has very serious and far reaching ramifications. See my other article, Expatriation & Income Taxes, which discusses this issue in more depth.  

(To view the text better in the charts and graphs used in this presentation, click on full screen mode in the lower right hand corner of the video window)