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Tax Expatriated Americans Forever

Live And Invest Overseas by Live And Invest Overseas
May 18, 2012
in Mailbag
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“Kathleen, you need to tell readers about this in case they haven’t heard already. U.S. senators have proposed a law to tax Americans for life, even after renouncing U.S. citizenship! America as a prison state is here today: ‘As long as an individual does not pay his or her taxes under the scheme, he/she will be barred from entering the U.S., forever.‘

“This is going to keep so many talented, potential entrepreneurs from coming to the United States, lest they too then become owned by the U.S. government for life. And to current, natural-born Americans, like me, this is the wake-up call, the slap across the face, the cold bucket of water. Now is the time to get out, because things will only get worse…less free.

“I don’t understand how politicians can be so dense as to not understand that this will be harmful to our economic future. Savrin created jobs and wealth in America. For that they should be thankful.

“The United States should be aiming to be one of those countries that attracts entrepreneurs and the businesses, wealth, and jobs they create.

“I feel like all we do is fight against increasing tyranny in the United States these days.”

–M.T., United States

***

“Kathleen, I’m writing to you from a beautiful sunroom overlooking the Rio Negro, which flows along the northern edge of Mercedes, Uruguay. My 9-year-old grandson and I arrived here on Monday, the 14th, having flown our small single-engine airplane from Carson City, Nevada, across the United States, down to the Bahamas, and through the Leewards, coming ashore in French Guyana, and blundering through Brazil to here. In the two days since our arrival we have been swept up in the arms of kind-hearted locals, resulting in my grandson being enrolled in the Uruguay-American School, a glorious apartment upstairs at a local country club, and the proprietor of the local airport providing a hangar and advice on how to avoid too much intrusion by the Uruguayan aviation authorities.

“Prior to launching into this new life, I did very little research on Uruguay other than to determine it was the most flexible country in the region for allowing U.S.-registered aircraft to remain in-country for extended periods. From here, we hope to explore South America, living life and expanding our hearts. It is entirely possible that I found the perfect place for me to make a new life on the first try, however. I’m astonished at how quickly we have been adopted and how the important details were instantly resolved. Perhaps traveling with a charismatic young lad improves the odds for an often curmudgeonly gray-haired old fart.

“This is our first trip as potential expats. I’ve traveled a bit of South America before on business, but now we have a new mission–to make it a home.”

–Don P., Uruguay

You can submit your own Mailbag question for Kathleen Peddicord here.

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Tags: 'Global Property Investing'IRS Filing RequirementsIRS Form 8938IRS Reporting RulesLief Simonmailbag
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