Word: citizenship
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Dates: during 1990-1999
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...comparison, in 1982, the year after Ronald Reagan drastically lowered taxes, not even one American renounced citizenship...
This "new refugee" phenomenon, though, is not just unique to the liberal Clinton administration. Back in 1962, during Kennedy's reign, the legendary global investor Sir John Templeton renounced his U.S. citizenship, moving to Nassau...
...Templeton's decision was not that of a miserly curmudgeon. He has generously donated most of his billion dollar fortune to charities. Of course, without U.S. citizenship, he--instead of some faceless bureaucrat--decides where his money goes...
This means that U.S. citizenship allows the I.R.S. to confiscate your income from you and your family while you are alive and after you die--no matter where you actually live or how you make your money...
Still, renouncing U.S. citizenship is not an easy decision, since it is extremely difficult to re-acquire. Also, one must become a real expatriate, since it is illegal to live in the U.S. more than a third of the year...