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Indeed, who knows how the taxation system will be like in a few years. Is is that bad for Americans living abroad ?
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The level of pain that goes with the US tax burden depends on one's individual circumstances. Our total tax burden, US and CH combined, is indeed higher than what we would have paid had we remained Stateside, enough so that we feel a twinge of pain.
The thing I find most painful, and expensive to boot, is the paperwork.
One thing you can assume in the near future, though: After this disastrous economic year and the challenging financial climate ahead, our US tax bill is not likely to go down any time soon.
Nonetheless, I wouldn't dream of giving up my US citizenship. YMMV.
I'm with the other posters: Wait until the child is older and let her make the choice.