# Trump and taxes pushing Americans to move abroad and renounce citizenship



## Anthony8

Absolutely CLUELESS. Trump alone would NEVER be a reason for more Americans abroad to give up their citizenship. Such a stupid assumption. Americans would never give up a passport for disagreeing with the result of an election, no matter how dumb their president is. The only reason renunciations have increased these past few years is due to the abusive, overreaching and unconstitutional tax enforcement law for Citizenship-Based-Taxation called "FATCA" - passed by Obama and a democratic congress. If anything, it's due to Obama and the authors of such legislation. If renunciations increase in the future , probably would be due to the inaction of the government to fulfill its promises. 

I can tell you as an American Abroad, as crazy as Trump may seem, the GOP specifically states on page 13 of the party platform that it supports a full repeal of FATCA and supports the establishment of residence based taxation,a system that the rest of the world utilizes except ERITREA and the USA. If anything, Trump and the Republican majority in government at the moment has been a small ray of hope for us abroad. Although, he has yet to speak on the issue which is troubling but at this moment, to assert Trump is the cause of the increase is utterly ridiculous. FATCA and the IGA's which the world's financial institutions are signing up with out of fear of sanction to legalize discrimination against anyone with US indica (even dual citizens in that country) is and always will be the reason of increased renunciations. 

And for any Expat/ Accidental American out there that is uncertain or fearful on what to do, DO NOT give in to the fear mongering that the US tax compliance "mafia" are waging to make a profit off of you. There is a lot of misinformation being spread by people in this industry. Do your due diligence and throughly investigate your options. Talk with actual expats who are going through the same issue, take a breath and relax.


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## Pat_Jackson

I agree with this person's comments. I lived in Canada for almost 40 years and had to start completing the foreign bank account report started under Obama. Canada has very reasonable taxation requirements. I have been living (returning citizen) in the States, again, for the past three years. I STILL have to complete the foreign bank account report in order to receive my retirement from Canada. I don't have much money myself. The ceiling should at least be in the hundreds of thousands for people actually trying to hide money, not for little people like me who get a measly monthly retirement amount. Obama's scheme punishes everybody and nets huge profits for CPAs. Initially people could fill out a short form themselves, now you have to have an accountant register to complete the FBAR reports - ridiculous!


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