Libertarians and conservatives, by contrast, explain that expatriation is the result of an onerous tax system that imposes high tax rates and requires the double taxation of foreign-source income.
For example, from January 1, 1926-July 31, 2012, long-term government bonds returned 5.77% annualized compared to 5.36% for five-year US Treasury notes but the long-term bonds had nearly double the volatility (Source: Ibbotson and Sinquefield).