Q2 2017 renunciations 2nd highest ever

The Federal Register aka Liberty List's Quarter 2 figures for 2017 are being published today, FYI for those here who have renounced US citizenship or are planning to. http://isaacbrocksociety.ca/2017/08/02/1759-published-expatriates-in-q2-2017-federal-register-list/

It is the second highest quarterly figure ever, second only to Q4 2016. This year is on track to be another record breaker due to ridiculous tax requirements, draconian penalty threats, privacy violations, and banking discrimination.

due to ridiculous tax requirements, draconian penalty threats, privacy violations, and banking discrimination.

About 20% of the "Public Figures" list is for this reason. I can't see any way of checking it for the general list.

Many people are likely reticent to give this reason because they think they will not be allowed to renounce if they say it. So probably more people renounce for this reason than it would appear. The fact that the renunciations started spiking in tandem with FATCA's implementation says a lot.

About 20% of the "Public Figures" list is for this reason..

Anchor,

I understand you may not be free to say from where this figure is based, but are you personally confident that it is reasonably accurate?

As LionHeart has said, most individuals are fairly savvy about the consequences of stating formally (to DoS staff) they are renouncing for any type of general tax reasons.

I understand the question, "why are you renouncing" is not asked at the London Embassy, although there are reports of those elsewhere in the world being asked the question at some Embassy/Consulates at present.

EDIT: Sorry, the penny may have dropped, but did you mean by "Public Figures" known personalities, such as Legislators, politicians, etc throughout the world?

   

Yes, Public Figures as in Lionheart's link. I am not reaching any conclusions, just mildly challenging Lionheart's assumption.

I was never asked at the London embassy when I renounced and in fact my experience was the exact opposite. The consular staff were very friendly and professional. I was even given advise to make copies of the document given at the appointment (CLN comes later) to help with banking and advise on travel to the USA while I wait for the CLN. I never mentioned the word banking or anything for that matter. But they are all aware what is going on. It's no coincidence that it started happening right after Fatca.