The feds are so worried that in 2008, they slapped an exit tax on Americans obtaining residency abroad. Mr. Gaver comments:
A true exit tax is considered to be one of the most ominous signs of a desperate government. The 10-year expatriation tax, passed in 1996, was bad enough. But, a pure exit tax would be far worse. But if you are waiting for that to happen, before you believe that we are in a world of trouble, then you can stop waiting. In fact, if you were waiting, then like so many other Americans, you missed it. In 2008, Congress passed and George W. Bush signed into law, the first ever US Exit Tax, as a part of the Heroes Earnings Assistance & Relief Tax Act (Public Law 110-245, at Sec. 301).Obviously, they do not buy into the idea that the United States is the land of the free. When will the rest of us get that memo?