Record Number of US Citizens Giving Up Citizenship

And the numbers of US citizens renouncing citizenship reached over 3,000 last year, even though the fees to do so went well over $2,000:

Americans Ditch Their Passports

Whenever you read the message boards to this type of story, the common reaction of US-based Americans is “good riddance” and “don’t let the door hit you on the way out.” This is a churlish, childish and counter-productive reaction. These Americans are not traitors, they are simply tired of double-taxation (yes, ironic, considering that is why the original colonists fought for independence). Americans are some of the only citizens in the world (though China is starting to do this as well) that pay taxes in their country of residence, and to the US government as well. Now, they do not have pay US taxes if their income is under about $95,000 but they still have to file and, for many, that is an expensive proposition. Many US expats are not bankers or financiers; instead many are teachers, middle managers for global companies or small business owners. They make well under the threshold but requiring them to hire an accountant (usually back in the US because there are few licensed CPAs overseas) means paying anywhere from $400 to $1000. That’s just unfair, and there should be a simpler way for these Americans such as a simple one-page waiver form to file.

In principle, when living overseas you are not using the services of the government so you should not be subject to taxation to one’s home country. Europeans are astounded to learn that Americans have to pay tax on their overseas salary. Then again, Europeans get national health insurance if they pay home taxes, while Americans get nothing except an order to pay and register for Obamacare.

It used to be $400 to renounce citizenship, and now it’s $2,400. There’s no reason for it to be that high except to fleece an about-to-be former citizen one last time. It should cost $40 to renounce citizenship, or even be free. It’s petty and tacky to charge so much for trying to leave a club. It bespeaks more about the crassness and coarseness of the US government than of the citizens trying to leave US behind for greener pastures elsewhere. Just let them go with minimum fuss, and let go of the currently vindictive system.

Originally posted: http://www.mccarthyism.com/2015/20150213.htm

US Colleges Giving More Money to Foreign Students

American colleges are looking to provide more scholarship and grant money to foreign students, particularly from China, in order to economically diversify their international student population:

US Colleges Seek Economic Diversity Internationally

In the Associated Press article, there is only one reader comment at the bottom but it tells the other side of story, “what about the poor American students?” It probably sounds great in principle to give more money to poor students in other countries to study in the US, but considering how huge the student debt load is for American college students, one would think there would be some kind of uproar from US students to get a larger piece of the financial assistance pie. Instead, it doesn’t seem like any students are complaining perhaps because they figure they will be able to pay back all those loans one day after they find a well-paying job (good luck). American students at most US colleges and universities are a pretty cowed bunch when it comes to challenging their administrations on boondoggles and runaway spending on useless administrative and staff positions. It’s still a bit shocking that even money does not motivate them to speak out and question administrative decision-making. Perhaps because they see themselves as such transient populations that they will be gone soon enough before any substantive changes would be made. That is a pity. It may be noble to give more money (and precious seats at prestigious institutions like Harvard, Yale, Stanford, etc.) to foreign students, but American students could use more help as well. In essence, US college financial magnaminity should not come at the cost to US students who foot an ever-increasing tuition bill.

Originally posted: http://www.mccarthyism.com/2015/20150209.htm