Capital, like information, wants to be free. The idea that it should
be limited to one country has always struck rich people as silly, which
is why Swiss bank accounts, offshore trusts and Caribbean beachfront
condos have been perennial big-sellers.
But lately, the legitimate reasons for investing overseas have been
joined by a couple of new ones: disgust with a ridiculously intrusive US
tax system and worry that the country is becoming something different
and less predictable.
As the Wall Street Journal’s William McGurn reports below, a small
but growing number of Americans aren’t just moving money offshore, but
are renouncing citizenship altogether: (more)
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