Posted on 08/12/2013 8:51:22 AM PDT by Kaslin
President Obama promised he would unite the world…and he’s right.
Representatives from dozens of nations have bitterly complained about an awful piece of legislation, called the Foreign Account Tax Compliance Act (FATCA), that was enacted back in 2010.
They despise this unjust law because it extends the power of the IRS into the domestic affairs of other nations. That’s an understandable source of conflict, which should be easy to understand. Wouldn’t all of us get upset, after all, if the French government or Russian government wanted to impose their laws on things that take place within our borders?
But it’s not just foreign governments that are irked. The law is so bad that it is causing a big uptick in the number of Americans who are giving up their citizenship.
Here are some details from a Bloomberg report.
(Excerpt) Read more at finance.townhall.com ...
This guy would fudge up a two car funeral.
Then he would blame it on someone else. Probably the stiff.
“Going Galt: Surviving Economic Armageddon”
I’m deeply involved in Going Galt, both as a personal lifestyle and writing on the subject. It’s the only way out given the collapsing welfare state, demographics and changing global technology.
http://www.futurnamics.com/goinggalt.php
We need to reform both our individual tax laws and corporate taxes to make individual american’s more competitive in the overseas job market and corporations more competitive. Even the socialist countries of Europe have better tax laws for their citizens and corporations working outside their borders.
Our tax policy means that american’s are at a tax disadvantage versus others in seeking jobs overseas. And that means more unemployed american’s and it means more foreign employees working for US companies overseas. Most other countries give the companies an option to retrieve their overseas profits with low taxes..to the advantage of their country..rather than forcing companies to keep profits overseas.
If I can find ways to starve the beast without sacrificing my standard of living I am OK. But i won’t have these leftists or anyone control my lifestyle.
“Representatives from dozens of nations have bitterly complained about an awful piece of legislation, called the Foreign Account Tax Compliance Act (FATCA), that was enacted back in 2010.”
They couldn’t go one further and call it the Foreign Account Tax Compliance Act of Tomorrow (FATCAT)?
Does your concept of tax reform mean:
a. more tax revenues for the government?
b. about the same tax revenues?
c. less tax revenues?
FATCA is the kind of legislation - buried intentionally by the malefactors in a larger bill - that senior Republicans never even bother to read. Then they wonder why, despite Obama’s disasters, nobody takes them seriously.
Some of us are going Galt without having to leave the country. It can be done.
Many are starting to renounce their citizenship - and many more wish they could.
Obama is the President of lower class blacks and white liberal elites - everyone else is screwed.
I like your acronym (FATCAT) but replace the word ‘tomorrow’ with ‘tyranny’.
Which effectively says you are the property of the US government.
What kind of legal claptrap is required to come up with that?
Yes. Resistance takes many forms.
Impeachment File on Communist, Benghazi Coward “B. Hussein Obama,” formerly known as Barry Soetoro, currently a Legal Citizen of the Sovereign Nation of Indonesia.
I wonder when these same countries will extend their policy to bonds and other securities sold by the FUSA.
It’s now clear that countries wanting to organize and trade in other currencies are the result of stupid laws like this, rather than a desire to undermine the U.S. or increase the stature of their currencies.
Same here. It is no great hardship to live on an income below that at which one must file a tax return. For some, it is. I reserve my contempt for those selfish shirkers who won't do anything whatsoever, for the sake of America.
No one said it better than Sam Adams: "If ye love wealth better than liberty, the tranquility of servitude better than the animating contest of freedom, go home from us in peace. We ask not your counsels or arms. Crouch down and lick the hands which feed you. May your chains set lightly upon you, and may posterity forget that ye were our countrymen."
Resistance to Tyrants is Obedience to God....
Compliance to Tyrants is Obedience to Moloch!!!
It can’t be named in a blatantly truthful manner though. The name has to appear to mean something nice and pleasurable, not what it actually is...
You know, like the affordable care act (aka obamacare).
http://www.futurnamics.com/goinggalt.php
It’s a great site. Some reconsideration of homebuilt alternative energy systems could be of help, though. Without the middlemen and unneeded permitting and inspectors, some systems work to cut costs and could even extend survivability.
Only a few examples for northern living:
[A good system for knowledge entry.]
http://www.builditsolar.com/Experimental/PEXColDHW/Overview.htm
[A little more thought and installation for more savings.]
http://www.builditsolar.com/Projects/SpaceHeating/DHWplusSpace/Main.htm
For sunny areas, PV solar electric systems can save money for those who install themselves after choosing components wisely and frugally (assuming safety steps and NEC are learned and followed).
For windy areas (not many places like my area), a homebuilt design can withstand what commercial designs cannot.
http://otherpower.com/turbineplans.html
(tutorial links on the left side of the page)
There are also options in other technologies.
Granted, the political/regulator class doesn’t like such activities. They don’t have the skills and don’t want others to have them (detractions from their investments of recirculating debt), but there are good legal ways around every obstacle. Onward to discovering the original meaning of technocracy (government by the technically inclined).
With “middlemen,” by the way, I was referring to installers and other experts.
Give the First Golfer some credit. He wants to be _Resident of millions of ignorant, hardcore socialist, anti-American campesinos from southern Mexico, too.
They could complain under the WTO rules...America’s politicians have always locked our rear ends into the receiving position when the WTO has ruled against us!
Bfl
Letting productive people reinvest more of the wealth they generate will very quickly increase the amount of wealth generated. Even if one ignores the effects that tax codes have on people's motivations, a productive person who is taxed heavily will reinvest less wealth into future production than he would if taxed less heavily, if nothing else for the simple reason that he can't reinvest money the taxman takes from him and he doesn't have anymore. Tax relief which is aimed at productive citizens can often be revenue-positive within a year. If Democrats are allowed to use that increased revenue as an excuse to increase spending that may cause budget deficits, but it's not the tax cuts that are at fault.
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