6262484026_ca2163d6bf_zRonald Reagan once described America as a “shining beacon” for those seeking freedom.

New data shows Barack Obama has turned it into a prison searchlight.

A record number of Americans have given up their citizenship, the IRS reports.

Driven by Obama tax hikes and banking regulations intended to punish the successful, 1,335 Americans gave up their U.S. citizenship in the first three months of 2015.

That’s a record, 18 percent higher than the previous record for Americans seeking refuge in other countries, set in 2014.

That record was also set under Obama. In all, 3,415 Americans fled the U.S. tax system in 2014.

In fact, the number of Americans giving up U.S. citizenship, and fleeing Obama’s tax system, has increased 1500 percent since 2008.

The U.S. is the only major country in the world that taxes citizens living overseas, even if the money is earned in another country.

Filing even the simplest tax form often requires an American living overseas to spend thousands on attorneys and accountants to ensure there are no errors. Penalties for tax errors by an American living overseas can be harsh.

As a result, Americans who love their country and want to remain citizens feel forced to renounce their homeland in order to preserve their freedom.

“The cost of compliance with the complex tax treatment of non-resident U.S. citizens and the potential penalties I face for incorrect filings and for holding non-U.S. securities forces me to consider whether it would be more advantageous to give up my U.S. citizenship,” Stephanos Orestis, a U.S. citizen living in Oslo, wrote in a March 23 letter to the Senate Finance Committee, Bloomberg reports.

“The thought of doing so is highly distressing for me since I am a born and bred American with a love for my country,” wrote Orestis.

The Obama administration has just enacted a new law snatching up 30 percent of funds deposited by U.S. citizens into foreign banks that don’t share private information with the U.S. government.

Americans with more than $10,000 in a foreign bank must also report it to the government, with harsh penalties for both Americans and the bank should the paperwork not be filed.

The Obama administration expects the tax will grab $8.7 billion from U.S. citizens over 10 years.

As a result of the new Obama rules many foreign banks will not do business with Americans, forcing Americans to choose between their U.S. citizenship or earning a living and staying out of jail.

But even that is not enough to secure your freedom. Even if an American loses U.S. citizenship, the U.S. government can still demand that they pay U.S. taxes and seek their arrest and imprisonment.