Guest Opinion: Alarming number of people renounce U.S. citizenship

Editor's note: The editorial board and Write to the Point columns are on a brief hiatus and will return next week, May 31.

Reprinted from the Panama City News Herald

Rich people are starting to flee America for tax havens elsewhere. It's not as bad as refugees getting out of North Korea. But it's not good.

The most publicized recent example has been Eduardo Saverin, a co-founder of Facebook, worth approximately $3.8 billion. That's if Facebook's initial public stock offering, which began trading Friday, hauls in a projected $104 billion, based on the price target of $38 set by the company.

It...