Originally Posted by Mr Pheer

In order to do that, you need to become a citizen of another country first. And, you must first pay the IRS 100% of what you owe, and hope that they dont decide to tax you on your future income earning potential as well. If you have a high income, you can be assessed for the next 10 years after you renounce your citizenship and still owe tax on it to the IRS.

Yes, they do that.