I’m aware there’s no real way to say anything here without sounding like a pretentious snob, but those income limits aren’t exactly spectacularly high.
I work in tech in NYC and my income is around those limits. My boyfriend is from Switzerland and there’s a non-trivial chance that we’ll wind up there long-term. If I was from literally any other country in the world beyond Eritrea, I would file Swiss taxes and that would be that. Instead, I’ll have a direct financial incentive to give up my native citizenship because I’m from one of two countries that makes a claim to any income earned anywhere in the world, even if I don’t step foot in the country that year. This is particularly rough in Switzerland because average salaries there are quite high, and thus so are costs of living, and so surpassing those limits isn’t a particularly uncommon thing. (Edit: About one in four Swiss residents make more than $120,000 annually).
I know this won’t garner any sympathy at all, but a bad policy only affecting the relatively wealthy doesn’t change the fact that it’s a bad policy. It could even backfire from a financial perspective, since having renounced American citizenship, I’d be less inclined to spend time in the US and contribute to taxes while visiting, and I’d never move back long-term, cutting off a chance of the government getting full income taxes from me ever again, whereas a change of circumstances might have otherwise prompted me to eventually return to the US.
I’m aware there’s no real way to say anything here without sounding like a pretentious snob, but those income limits aren’t exactly spectacularly high.
I work in tech in NYC and my income is around those limits. My boyfriend is from Switzerland and there’s a non-trivial chance that we’ll wind up there long-term. If I was from literally any other country in the world beyond Eritrea, I would file Swiss taxes and that would be that. Instead, I’ll have a direct financial incentive to give up my native citizenship because I’m from one of two countries that makes a claim to any income earned anywhere in the world, even if I don’t step foot in the country that year. This is particularly rough in Switzerland because average salaries there are quite high, and thus so are costs of living, and so surpassing those limits isn’t a particularly uncommon thing. (Edit: About one in four Swiss residents make more than $120,000 annually).
I know this won’t garner any sympathy at all, but a bad policy only affecting the relatively wealthy doesn’t change the fact that it’s a bad policy. It could even backfire from a financial perspective, since having renounced American citizenship, I’d be less inclined to spend time in the US and contribute to taxes while visiting, and I’d never move back long-term, cutting off a chance of the government getting full income taxes from me ever again, whereas a change of circumstances might have otherwise prompted me to eventually return to the US.