Wealthy Americans Jumping Obama’s Ship: Wealthy Americans aren’t just leaving tax-heavy states like New York and California, they’re leaving the country.
U.S. citizens are defecting at record levels in order to escape high taxes, the New York Post reported. About 8,000 U.S. citizens are projected to renounce their citizenship in 2012, or about 154 a week — versus 3,805 in 2011, or about 73 per week, according to immigration officials, the Post reported.
They want to avoid tax bills resulting from the proposed 55-percent hike on the wealthy and the anticipated expiration of the Bush-era tax cuts at the end of the year, the Post reported.
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