Toronto Star

Moodys Tax play­ing things to their fi­nan­cial gain

- US Elections · Taxes · Society · Politics · US Politics · Business · United States of America · Canada · Democratic Party (United States) · True · Republican Party (United States) · Mississauga

I read with some alarm an ad in a re­cent is­sue urg­ing U.S. cit­i­zens liv­ing in Canada to re­nounce their U.S. cit­i­zen­ship.

Placed by Moodys Tax, the quar­ter-page ad claimed that with one of the most con­se­quen­tial elec­tions in U.S. his­tory on Nov. 3, “record num­bers are lin­ing up to re­nounce their U.S. cit­i­zen­ship.”

Not only is this a ques­tion­able fact, but it begs the ques­tion: Why now?

As the chair of Democrats Abroad’s Tax­a­tion Task Force noted this week: “All our data on voter regis­tra­tion and bal­lot re­quests from around the world sug­gests that voter participat­ion from abroad will shat­ter all pre­vi­ous records.”

True, there are tax dis­ad­van­tages for those of us liv­ing abroad — dis­ad­van­tages Democrats Abroad and the other or­ga­ni­za­tions rep­re­sent­ing Amer­i­cans abroad have been work­ing tire­lessly to change, and which Moodys Tax is play­ing to their fi­nan­cial (and per­haps po­lit­i­cal) ad­van­tage all over the globe. Moodys makes money from re­nun­ci­a­tions. If there’s one valu­able les­son this crop of Repub­li­cans has taught us, it’s to fol­low the money.

For most Amer­i­cans liv­ing abroad, the idea of re­nounc­ing our cit­i­zen­ship is anath­ema. I would urge Amer­i­cans liv­ing in Canada to join Democrats Abroad to con­tinue the fight for a more eq­ui­table, res­i­dence-based tax sys­tem.

And to vote (via vote­, be­cause we can’t af­ford to do any­thing less. Steve Nardi, chair of Democrats Abroad Canada, Mis­sis­sauga

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