Every three months, the Treasury Department publicly names the Americans who renounce their citizenship. According to Forbes, record numbers of Americans are renouncing citizenship, and a recent poll states 1 in 4 Americans would consider leaving if Trump is elected. Others claim they will leave if Hillary is elected.
The number of Americans who renounced their citizenship in the first three months of 2016 is a record number — 1,158.
In 2015, there were approximately 4,300 expatriations. Americans renouncing citizenship have risen 560% since Bush was in office. There are now 18 times as many renouncers as in 2008.
Furthermore, Forbes claims the published list of expatriates is incomplete, with many not counted. Surprisingly, no one seems to know exactly how big the real number is, even though the IRS and FBI both track Americans who renounce.
An interesting thing to know: America charges $2,350 to hand in your passport. The U.S. government has collected about $12.6 million in fees since the fall of 2014, after hiking its fee to renounce citizenship by 422%.
Previously, there was a $450 fee to renounce, and no fee to relinquish. Now, there is a $2,350 fee either way. The State Department said raising the fee was about demand and paperwork, but American expatriations still grew after the increase.
If you would like to receive Breaking News text alerts on a smartphone or tablet, download the DML APP which is completely FREE and easy to use. Go to the Google Play Store or the IOS App Store and search for DML APP. Be sure to keep the app’s notifications setting on. Another way to receive alerts is to text to 40404 the following message: follow @realdennislynch (be sure to put a space between the word follow and the @ symbol).
To see more stories like this, sign up below for Dennis Michael Lynch’s email newsletter.
Sign up to get breaking news alerts from Dennis Michael Lynch.
GATOR KNOCKS ON HOMEOWNER’s FRONT DOOR