The “1 Percent” Exodus

And after the door has closed behind them, tell me LJ, who is it that will be bearing the burden that they once bore?

You act as if there truly was a massive exodus, when in fact you are only talking a very miniscule number. There are 30 million one percenters. Out of that 30 million, there are a few hundred who are leaving their country behind, which could be for a vast number of reasons. My neighbors just moved back to their homeland of Finland, even though they possess US citizenship, another friend moved back to Canada for health care reasons, etc. I have other acquaintances who renounced their US citizenships in order to be able to purchase beachfront property in Mexico. So when are you going to provide us with your "facts" that detail how tax policies are driving these few hundred individuals from this great country?

Still want to stand by your numbers? Last I knew, 1% of 300 was 3, not 30. In addition to that, 300 million is the total population, not the number of households, or even the number of workers, in this union. Try about 1.4 million households in the 1% metric - it's a lot closer to the real number than anything you are using currently.

You are correct that the 30 million was a typo, should have been 3 million as per my earlier post. As to the number of households, that is indeterminate.

FYI, James Cameron is and always has been a Canadian citizen, never a US citizen. As to his inclusion into the list of the OP, it has zero relevance.

And, as mentioned earlier, a legal permanent resident in these United States, subject to the jurisdiction thereof and taxed accordingly by the general government and the government of the state in which he was a legal permanent resident - who has since expatriated himself and become a permanent resident of another state - New Zealand, which has a lower top marginal tax rate for individuals, a lower corporate tax rate, which doesn't tax capital gains, and which taxes neither the individual or the company they work an additional 13.2% on the first $106K in wages that the employee earns every year.

I got to tell you Dog, if that wasn't the primary reason he left, it sure is sauce for the goose given his personal financial situation.

PrintSmith wrote: And, as mentioned earlier, a legal permanent resident in these United States, subject to the jurisdiction thereof and taxed accordingly by the general government and the government of the state in which he was a legal permanent resident - who has since expatriated himself and become a permanent resident of another state - New Zealand, which has a lower top marginal tax rate for individuals, a lower corporate tax rate, which doesn't tax capital gains, and which taxes neither the individual or the company they work an additional 13.2% on the first $106K in wages that the employee earns every year.

I got to tell you Dog, if that wasn't the primary reason he left, it sure is sauce for the goose given his personal financial situation.

Except that he gave his reasons as to why, and it did not include tax policies. And the majority of his income will be taxed twice as it will be earned in the US, and will also be double taxed by New Zealand. Once again, where is your evidence of expatriates leaving the US due to tax policies?