Is It Time to Renounce Your Citizenship?

[jlm]

I wouldn't recommend moving to Puerto Rico at all if you are just looking for lower taxes. Those tax laws are surrounded in controversy, you'll be getting yourself into a huge mess if you move down there for that, from anger from the locals that you're moving in paying less and causing gentrification, to working with a corrupt government. But these tax breaks are very likely to be brought down in the near future, the US government has been pressuring the Puerto Rican government to take it down and more local Puerto Ricans are finding out about it and demanding their government end it too, and the party on the island that created the tax incentives have been losing a ton of support, and if they lose both the governors seat and the majority in both legisture chambers, then yes Puerto Ricos tax incentives are dead.

[vainarrara]

You have to have an unbelievable tax burden to renounce the American citizenship. The only good and unquestionable reason to renounce this citizenship is if you want to work for a foreign government.