Published On: Thu, Aug 7th, 2014

Americans set a new record by renouncing their citizenship

american passportWASHINGTON - It may seem like a drop in the bucket, especially when thousands of people want to immigrate to America. However, there are increasingly more Americans renouncing the citizenship of their country, reports Forbes magazine.

According to the magazine, so far this year, 1,577 people have renounced United States citizenship, predictably driven by fiscal policy of the country. Last year 2,999 citizens and permanent residents of the USA renounced their citizenship or residence (the so-called 'green card'), an increase of 221​% over 2012.

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