Americans are Ditching Citizenship in Record Numbers, Part 3

The more desperate a government is as to apply more punitive Financial Repression measures via higher taxes, more regulations and mandates, inflation and etc…, the more we should expect the productive segment of the society to flee. I previously noted how Americans have been ditching their citizenship in record numbers here and here

Here is an update from the Wall Street Journal (hat tip Zero hedge)

Last year saw a record for expatriations by U.S. taxpayers, exceeding by two-thirds the previous high set in 2011.

According to the Treasury Department, 630 individuals renounced their U.S. citizenship or ended their long-term U.S. residency by turning in their green cards during the fourth quarter.

The fourth-quarter figure brought to 2,999 the total number of expatriations for 2013. The previous record was 1,781 in 2011, said Andrew Mitchel, a tax lawyer in Centerbrook, Conn., who tracks the data.

The Treasury is required by law to publish a list of the names of expatriates quarterly. The list doesn't indicate when people expatriated or why. It also doesn't distinguish between people giving up passports and those turning in green cards.

Mr. Mitchel attributed the surge to increased awareness of the obligation to file U.S. tax returns, the increasing burden of compliance and the fear of large penalties for failure to file U.S. returns.

"Above all, fear seems to be driving this increase in expatriations," Mr. Mitchell said.

And if the productive segment of society leaves, who is going to do the investing? And if the number host declines, where will political parasites get their sustenance?