Quite apart from Americans denouncing their citizenship, this absurd tax policy is surely a strong disincentive for many ambitious and successful global entrepreneurs from considering taking out US citizenship or applying for a green card, since many of the same penalties apply.
In my case as a Canadian, I worked as a software engineer for 4+ years on work visas in California before relocating to Australia in late 2010. My wife is an Aussie so I have permanent residency in Australia.
Although I turned off my US job site profiles, I still get emailed regularly by US recruiters asking if I'd be willing to move back to the US. My answer is always no. The opportunity cost of living under the restrictions of work visas in the US and playing the green card queue lottery in a potentially lousy job before your time runs out is just too high.
In my case as a Canadian, I worked as a software engineer for 4+ years on work visas in California before relocating to Australia in late 2010. My wife is an Aussie so I have permanent residency in Australia.
Although I turned off my US job site profiles, I still get emailed regularly by US recruiters asking if I'd be willing to move back to the US. My answer is always no. The opportunity cost of living under the restrictions of work visas in the US and playing the green card queue lottery in a potentially lousy job before your time runs out is just too high.