Look, I’m not saying Donald Trump is absolutely the reason more Americans are saying “so long” to the U.S. of A. than ever before. But with 2017 on track to see a record high number of American expatriates, I’m not saying he’s not the reason either.
According to a just-filed IRS list of people who have renounced their U.S. citizenship over the third quarter of 2017—some 1,376 in all—this year is shaping up to be a banner one when it comes to severing ties with America. If fourth quarter levels hold to 2016's numbers, 6,813 people will be able to proudly call themselves non-Americans by January 1st—an increase of 26% from last year’s record high of 5,411, “which was itself a 26 percent jump from 2015,” Bloomberg calculated.
So why the uptick? Bloomberg notes that the increase in expatriation really began in 2010, when the government passed laws making it harder for Americans abroad to shield their assets from taxation in both the U.S. and their country of residency.
But, as U.S. News and World Report explained when the previous record was set last year, the list of expatriates in the final quarter of 2016 was nearly double that of 2015.
I wonder what happened right around the end of 2016?