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What are the Key reasons for a US citizen to expatriate?

There are 3 Key issues to consider when thinking to become a US expat.

The considerations are: investment assets or business, you, and your loved ones.

Over the last 40 yrs + the US government has expanded its control over the lives, wealth, and personal liberties of its citizens.

The US Congress recognizes the needs of the nation, and voting to fulfill those newly created public needs. This has resulted is an increasing confiscation of private money and earnings along with increased coercion and penalties. So much so, that fear is overtaking the feeling of security of many US citizens.
You will not hear much about this from Wall Street or Washington, DC when the data and statistics are published. But, people on Main Street say they know something bad is happening in the country.

Many professionals and successful business people are focused on wealth preservation are focusing on what to protect their legacies.

Ann Rand’s “Atlas Shrugged” is no longer fiction, it is reality to the productive and not productive alike, as the failure of big government stagers the imagination.

One savvy observer puts it this way, “Private wealth and private decision making is no longer acceptable in a growing number of areas where government determines the public interest is more important than private property and personal rights are.”

Interested in Investing in Asia?

Linda Johnson,
Business Development Director – Private Client Group,
Heffernan Capital Management
Sales@Heffcap.com

Singapore

3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699

For people with this POV, living the United States has become unattractive, as there is great fear of the US income tax system.

The role of government and private property ownership switched places about 100 yrs ago with the adoption of the US income tax system, that resulted in the government owing all property and labor and decides what little bits its citizens are allowed to keep.

The “tax loopholes” politicians talk about, are actually paid for by taxpayers.

The mortgage-interest deduction comes because a home owner paid interest on a mortgage, depreciation comes about because equipment or property was bought privately and has a determined useful life.

The US does not have voluntary tax system, coercion is the method for compliance, there are no choices, lots of Americans have grown to hate and rail against it.

When a person cannot escape what he/she hates, and there is no hope it will get better, then the rational act is to exit that system.

The value of the US Dollar is acceptable because of its purchasing power. Almost anyone with even a modicum of basic economics realizes the purchasing power of the “Greenback”, as a Fiat Currency (paper money), is being destroyed by the policies of the US Federal Reserve.

For some folks, this is a reason enough put their money in asset classes they feel maintains purchasing power or put them a jurisdiction where they can acquire those assets without fear of confiscation by the government.

More and more, the US Congress is putting up barriers to trap money and keep people from leaving the country.

The so-called “qualified-intermediary” rules and the Foreign Account Tax Compliance Act with the newest expatriation tax law have the effect of creating an effective barrier to trap investors, businesspersons and others in the United States.

For many, the expatriation of themselves or their assets a viable tax plan today, and soon others may see that expatriation is the tax plan of the future.