cancel2 2022 (09-30-2022), Grokmaster (09-30-2022)
There has been a large uptick in Americans living overseas in foreign countries renouncing their citizenship in the last two years. This is due to a Biden policy trying to wring more taxes out of that group. Instead of doing so, it has unintentionally hit the little guy most.
https://www.bloomberg.com/news/artic...id-fatca-rulesAmericans Abroad Renounce Citizenship to Escape Tax Law’s Clutches
FATCA, aimed at cracking down on offshore tax evasion, is hurting accidental US citizens who can’t open bank accounts.
FATCA, or the Foreign Account Tax Compliance Act, aimed at trying to hit offshore tax evasion, has instead made it harder for average Americans living abroad to open simple bank accounts or do any sort of financial transactions. It has also raised their costs of trying to comply to levels that are prohibitive. The result is that many--about 25% of all Americans abroad--have now either renounced their citizenship or are in the process to do so.
Instead of getting better compliance, Joke is forcing people, many of whom saw their citizenship as valuable, to dump being American to avoid the IRS and US tax law.
So, FATCA is just another stupid Leftist idea that backfired, rather than the tax cash cow the Joke administration thought it would be. Proof of that is it cost $574 million to enact this law and last year it brought in a measly $14 million in additional tax revenue.
cancel2 2022 (09-30-2022), Grokmaster (09-30-2022)
cancel2 2022 (09-30-2022)
The reason we cant tax the rich heavy is that the rich only pay taxes to America at all if they choose to. If they dont want to they simply stop being Americans. There will almost be other countries willing to take in rich people. That America is rapidly failing as a country is another reason to skeddle.
This illegal illegitimate regime that runs America is at fault...not me.... they do not represent me and I have long objected to their crimes against humanity.
Switzerland is actually kind of full and their banks have trouble figuring out what to do with all their money.
Lots of countries will ba happy to take them but there are not so many countries they are willing to go to.
More significant is that the wealthy write the tax laws so they only pay the taxes they are willing to pay.
"Those who vote decide nothing. Those who count the vote decide everything." Joseph Stalin
The USA has lost WWIV to China with no other weapons but China Virus and some cash to buy democrats.
TRUMP WILL TAKE FORTY STATES...UNLESS THE SAME IDIOTS WHO BROUGHT US THE 2020 DUNCE-O-CRAT IOWA CLUSTERFUCK CONTINUE THEIR SEDITIOUS ACTIVITIES...THEN HE WILL WIN EVEN MORE ..UNLESS THE RED CHINESE AND DNC COLLUDE, USE A PANDEMIC, AND THEN THE DEMOCRATS VIOLATE ARTICLE II OF THE CONSTITUTION, TO FACILLITATE MILLIONS OF ILLEGAL, UNVETTED, MAIL IN BALLOTS IN THE DARK OF NIGHT..
De Oppresso Liber
A sad commentary on we, as a people, and our viewpoint of our freedom can be summed up like this. We have liberals and conservatives, Democrats and Republicans, yet those very people look at Constitutionalists as radical and extreme.................so those liberals and conservatives, Democrats and Republicans must believe that the constitution is radical and extreme.
After what Biden has done to the gas supply it's not surprising.Americans living in foreign countries renouncing citizenship
Americans overseas have a tough time anyway.
https://www.presstv.ir/Detail/2022/1...-over-meddlingNicaragua bars US envoy over meddling
It's common to pretend you're Canadian.
Last edited by moon; 10-01-2022 at 04:55 AM.
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