I know several people who were born abroad and raised abroad but are US citizens because their parents are citizens. Every year they have to report every cent that they own. In foreign bank accounts, foreign retirement funds and foreign investments. They have to file taxes every year, which means paying several hundred dollars for a tax attorney. They are unable to open several local bank accounts and several of them won't even hire US citizens for any possible job at the bank.
If renouncing citizenship was free then they would do it in a heartbeat, but alas the US wants to steal even more money from them.
If renouncing citizenship was free then they would do it in a heartbeat, but alas the US wants to steal even more money from them.