In Tax Connections, Michael DeBlis asks Are the Psychological Benefits of U.S. Citizenship An Adequate Justification For The Worldwide Taxation of Nonresident U.S. Citizens?
He reports that Professor Michael J Kirsch claims:
“it is reasonable to conclude that the retention of U.S. citizenship reflects a self-identification with the population of the United States (or the belief that the benefits of citizenship are worth the tax cost).”
Mr. DeBliss “respectfully disagrees.” So do many others who commented. I call it a “psychological nightmare” and call FATCA “financial and psychological terrorism.”
What do you think? Michael Bliss wants to hear from us so please share your comments there as well as here.