Penalties

This is a good article on NPR – Why More Americans Are Renouncing U.S. Citizenship

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This is put both in the Media section and elevated to a specific post – as it is a thoughtful article.

This radio article notes that Americans who live overseas are renouncing their U.S. citizenship in record numbers.  The renunciation has been a sudden spike from a domino affect from the following:
1.  UBS aided tax evasion scheme that broke in 2009;
2.  Congressmen believed that tens of billions could be collected;
3.  FATCA was adopted in 2010 – to identify all American account holders throughout the world;
4.  Foreign banks cancelled accounts throughout Europe; and
5.  The U.S. is unusual in that it taxes its U.S. citizens wherever they are in the world.

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