Today on the New American there is an article entitled, "Amid IRS Abuse, Record Number of Americans Give Up U.S. Citizenship." 1 In the article it discusses how in 2009, only 742 American citizens renounced their citizenship In 2012 it was over 2,000. So far this year over 2400. In part it is because US requirments on those wishing to bank abroad are so restrictive that there are many banks overseas that will no longer accept American Depositors.
But this growing departure of the wealthy is a symptom of more than just IRS regulation. With the departure of American manufacturing, Increasing taxes, and the rising violence and barbarism, more and more of those who can are leaving like rats jumping from a sinking. It is what we see going on in the inner cities of our country writ large.It demonstrates that rising taxes will only lead to the departure of the middle and upper classes. The lower Middle classes and the poor are forced to remain.
This is all reflective of Americas transition to the third world. The great mass becoming ever poorer in the decaying cities. The Middles classes growing smaller will move into the suburbs enclosing themselves in gated communities while the rich will move their money offshore, where they can run things safely as absentee landlords.
Meanwhile the left will be the controlling political class. And business will be the controlling economic class.
The devastating alliance between State Capitalism and State Socialism which will suck the lifeblood from our once great country.