[Stevvo]

I imagine if someone is considering revoking their citizenship just to avoid tax, they make a lot more than $112,000

I wouldn't call it a tax break; the US is the only country that double taxes its citizens on foreign-earned income.

[gregjor]

The US is one of only two countries that taxes based on citizenship.

Double taxation would only happen if you had to pay taxes to a foreign country and the US. If you plan to work or earn income abroad as a US citizen it would be wise to choose a country that has tax reciprocity with the US, to avoid double taxation. That would include most countries that would be on the list of places worth renouncing US citizenship for.