Citizenship Abroad to Avoid Paying Taxes...

[Punker]

It's a bad idea as without US citizenship, you will have troubles working in the US again. The US has also previously put people who renounce citizenship on a "no admit" list to the USA, so you would be unable to return to the US at all in the future (ie, you would be turned back at immigration if you flew in).

More citizenship info

"Note, incidentally, that former US citizens who are deemed to have renounced their US citizenship in order to avoid paying US taxes are barred from entering the US, under a 1996 act of Congress [Public Law 104-208, § 352; INA § 212(a)(10)(E); 8 USC § 1182(a)(10)(E)]."