 nor what color your passport more american exceptionalism URL the united states is the only country in the world to tax its citizens on a worldwide basis irrespective of whether they spend time in the country or whether they have assets there said philip marcovici a zurich based lawyer with international law firm baker and mackenzie and perhaps even irrespective of their current citizenship under current expatriation law there are wealth thresholds based on net worth which lead to a presumption that a person giving up u s citizenship is doing so for tax reasons individuals who have given up their citizenship and who have earned NUMBER NUMBER in any one of the NUMBER years before expatriation or who have a net worth exceeding NUMBER NUMBER would automatically be deemed a so called taxpatriate those persons would be subject to ordinary income tax on u s source income for NUMBER years they would also be subject to u s estate and gift tax during the NUMBER year period i suppose it could be much worse there could be some twee affinity program for us citizenship and a bank of phone people who only get paid well if they manage to keep one from cancelling membership dave last month congress proposed a new exit tax on all citizens who give up their u s status if the proposal becomes law individuals will be taxed as if they had either sold everything or died this would give rise to immediate exposure to capital gains tax to be fair would this mean that they d also immediately pay out the difference for anyone whose tax basis was greater than current estate value URL australian cities overall scored particularly highly in the economist intelligence unit survey of desirability for expats with all five the country s urban centres surveyed ranked near the top of the table europe was also well represented among the top NUMBER places the top us city honolulu ranked NUMBERst with boston at NUMBERth the highest ranked city on the us mainland canada in contrast sneaked three cities into the top ten the uk cities of london NUMBERth and manchester NUMBERth gained only a mid table rating with port moresby in papua new guinea bottom of the list 