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Too Much Work To Be An American?
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More Americans living abroad are giving up their American citizenship. Lack of patriotism? No, it's all about taxes. And it's not about paying more taxes, either. It's because the American government has instituted regulations that cause them to have to fill out more paperwork, making doing taxes a major burden. And financial institutions with which they do business have to file substantial paperwork about those accounts, too. It's easier to just renounce your citizenship then to comply. That doesn't seem like a good idea, but somebody in the federal government got it in his or her head that they needed to crack down on expatriates to find every single dollar of revenue that they can find. (BBC)
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