I am on the mailing list of International Living so I keep getting ads about the advantages of renouncing your US citizenship. This of course for most people would require purchasing an expensive economic citizenship first. You would probably end up being a citizen of some small island like Dominica. The idea behind it of course is that you would no longer have to pay US taxes. It would be easier for me since I recently became a Panamanian citizen. However I wouldn't want to lose my US citizenship and my retirement income is not that much. It seems to me that International Living is playing on big brother paranoia for their own economic gain. Not that I agree with the US taxing people on their citizenship rather than residency but giving up your citizenship seems pretty extreme. I am wondering what other expats think about this topic.
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