More people are giving up their green cards and U.S. citizenship, says the Wall Street Journal.
Two consultations in the last week from prospective clients on this very topic already.
Good business for our firm. Bad, bad, bad for the United States.
Most of the people who are thinking of this are highly productive people — entrepeneurs, people with Ph.Ds, company-builders.
I’ll be in Saudi Arabia in two weeks. On the topic list for discussion there — what to do about Saudi kids who were born in the U.S. (hence are U.S. citizens) and are approaching age 18. (At age 18 they have an easy and tax-free way to give up citizenship. I’m generally encouraging people to jump on that opportunity.)
Memo to Congress
Here’s a really useful question to ask yourself, honestly, inside your own head, when you’re contemplating a new law: “And then what will happen?“
Startup Visa in reverse
The exit tax — and increasing evidence that entrepeneurs are fleeing the United States or choosing not to come here in the first place — is the anti-startup visa. It’s like trying to fill the bathtub with water while keeping the drain open.
I wish Dave and his crew success in their efforts. Unfortunately, they are asking Congress to be perceptive and forward-thinking, and that is unlikely.