Here's another ex U.S. citizen detailing his experience and reasons for dropping his U.S. passport.

I obtained what is called economic citizenship from St. Kitts & Nevis, and then dropped my US citizenship. St. Kitts & Nevis is a British commonwealth in the Caribbean, and a tropical paradise tax haven. If you visit and can swing the tab, stay at the Four Seasons - it's very nice. Anyway, to cut to the chase, the annual amount I save by no longer paying the raft of US taxes covers ALL my living expenses in my new home. It also quickly paid the cost of getting my new passport.

Being able to buy and sell stocks, gold, silver, oil, currencies, options, bonds - you name it - while paying ZERO taxes is such a boon it's hard to overstate. It's a total game changer to be able to invest freely and not even think about taxes. The process of investing becomes so much clearer that until you're there, I don't think it's possible to fully "get it." I certainly didn't, and I can't believe the mental haze I lived in for so long when it came to investing.

The other benefits you mention on your list have been true for me as well. Not filing tax returns anymore and flushing money on accountants year after year is something I give thanks for every April. It's like a second Thanksgiving! I express my thanks by giving more money to charitable causes than I could afford to when I was property of Washington DC.

I also can vouch for the point about sleeping better knowing your money is no longer funding corporate bailouts, military invasions, political boondoggles, and all the other rip-offs that The Daily Reckoning covers on an ongoing basis. I still travel to America occasionally (I got a visa after I became an expat), and it's sad to see how many regular people are suffering. Unfortunately that suffering will continue and only get worse as the avalanche of debt and unfunded liabilities that Agora has warned about buries them in the coming years. Whether it's mass deflation, hyperinflation, stagflation, or some other unforeseen blowup, the middle class will be largely wiped out. People already know they've been ripped off, even if most don't understand the mechanics of how it happened and continues to happen. Going forward I think you'll see scapegoating, civil unrest, even widespread violence. I'm glad I won't be anywhere nearby if and when it happens.

To wrap up, I'm one of the increasing numbers of people who has "gotten out of Dodge," and I'm truly glad I did. I recommend it for anybody who considers personal freedom and financial freedom to be more than just feel-good slogans. I didn't abandon the ideals of America. I decided to pursue those ideals on my own terms rather than paying politicians to work me over while telling me I'm free. Everybody has their own line in the sand. They crossed mine.

If some day America is no longer under the control of corrupt thieves, then I'll be first in line to return. Until then, I wish those who decide to stay the best of luck.