Disclaimer: 1st diary. You have been warned.
The people who are all pouting that their guy didn't win the election and Branco Bama is going to tax them to death, instill Sharia Law, etc... You know, the usual stuff we roll our eyes at.
But let's examine what it means to renounce your citizenship. The process has already been mentioned here.
When you renounce your citizenship, you also no longer receive any protections and benefits from the United States government that you are normally entitled to. Being a citizen of no country also means that if you go to another country, get into trouble with their law, you are pretty much SOL... Unless the country means good about its due process. Which is why, US citizens, if you get into trouble with foreign laws, you need to absolutely insist on getting in contact with the United States consulate or embassy - NO MATTER WHAT. Stick to your guns on that!
If you just drive down to the closest place and renounce your citizenship to the diplomatic officer without any forethought as to where you will live, then you'll find yourself in a pretty tough place. Next, food, money, friends, your church, hauling your other possessions. Get the idea? It's an expensive logistics problem, not just a paperwork problem.
If you want to succeed at renouncing your citizenship, you should try and become a citizen of another country. Preferably of your liking but seeing how most of the 1st world countries have systems like SINGLE PAYER HEALTHCARE and HIGHER TAXES, you might be stuck with trying to become a citizen of Indonesia. Political asylum? Work visa? Might or might not work. Worse comes to worse, you might become a part of the human trafficking operation as the traffickee, not the trafficker.
Ask a legal immigrant of any country on how to become a legal citizen of said other country. I vaguely remember some Facebook investor who renounced his citizenship, but only well after he received his Singaporean one.
Cheers, and good luck leaving this country.