Posted on 04/27/2014 11:09:45 AM PDT by tired&retired
Write Down This Date: July 1st, 2014
On this date, U.S. House of Representatives Bill "H.R. 2847" goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight. You now have just several months to prepare ...
Snopes Opinion: Mixture of Truth & NonTruth
Origins: This item about the passage of H.R. 2847 causing the U.S. dollar to collapse as of 1 July 2014 is another example financial scarelore put out in conjunction with an investment come-on, in this case an ominous sales pitch put out by the folks at Stansberry & Associates Investment Research LLC.
This latest panic piece is offered in a more at Stansberry & Associates presentation featuring a number of scary-sounding statements about how we in the U.S. are soon to experience a "near-complete shutdown of the American economy," will see "the savings of millions wiped out," will be living under the imposition of martial law by the federal government, and will be struggling in the aftermath of a number of other apocalyptic financial scenarios.
So what is this all really about?
H.R. 2847, also known as the Hiring Incentives to Restore Employment Act (or HIRE), was a Congressional bill passed into law in March 2010 that sought to provide payroll tax breaks and incentives for businesses to hire unemployed workers. A section of that bill, the Foreign Account Tax Compliance Act (known as FATCA), sought to eliminate the non-compliance of U.S. taxpayers who hold foreign accounts by requiring those taxpayers (including those living outside the U.S.) to report certain foreign accounts and offshore assets to the government, and by requiring foreign financial institutions to report information about the ownership of overseas assets held by U.S. taxpayers to the government.
(Excerpt) Read more at snopes.com ...
Manufacturing our own steel has got to be a top national security priority. That China is making our steel for cars and jets etc. is a travesty. The crap nails I get at Lowes can be bent and broken off in your bare hands.
Also, textiles would be a fairly easy one to bring back home - has anyone else noticed the horrible quality and high price tags on a lot of fabrics, clothes, linens? I would love to invest in such a company right here in the USA.
Seems to me that under current law, if you file a form 1040
with the IRS, you are already required to disclose any
foreign investments, or holdings, on an annual basis, or
it’s a felony.
The only thing that makes you a part of the minority is that you have no clue how to bring them back.
Bump
No, but you do seem to like empty slogans.
The way to bring back the jobs is to make the environment favorable.
Expanding government does the opposite. Obamacare does the opposite.
The trouble with this government apologetic is that it relies on projections and models, not “actuals”. That is, Americans overseas are already being shut out of financial institutions *en masse*, but this is not a projected occurrence, so does not figure into their calculations.
“Our tables do not reflect this as reality, so the reality is false.” Using the same logic that the Earth’s temperature is now 10 degrees warmer than it was 10 years ago, because that is what the IPCC models predicted.
“Who are you going to believe: me, or your own lying eyes?”
“short-sighted bill with no good intentions attached”
That would be every law that has been passed since the
juggeared one has been in office. In fact everyone of
them is meant to collapse some sector or another of the
economy specifically. The idea is to bankrupt the
country and then blame it on the constitution. To be an
Obama liberal is to be a bald face liar with no respect
for human life.
Require businesses to hire Americans, not illegal aliens.
Do a little googling and you will find articles about how Harry Reid and late Senator Inouye supported legislation to outsource all of our garment manufacturing to the Philippines, include giving them financial aid for taking away American jobs.
Our pastor’s sermon was about how Christians are “asleep” as to what is going on in America.
Plus, the rent is just too damned high.
So if this is put out by the Treasury, I would swap the Fact with Myth, and the Myth with Fact.
• U.S. financial markets and financial institutions
• U.S. businesses operating in global markets
• American citizens residing overseas
• American citizens with legitimate investments overseas
The dangerous ramifications of FATCA <<<
Im calling BS!..The banks and the elite put this in place...it didn't hatch on its own....Money to be made..its just about where and who mines it!!
Nope...but a few "regular" Americans are actually taking advantage of it....Its called NICHE marketing....there are still plenty of entrepreneurs out there...look around ...
It's the Fedbucks. Nothing could go wrong.
Dems regulate the hell out of them, and Pubs passed legislation making it easier for corps to pick up manufacturing and ship it overseas for a damn buck.
Capitalism is one thing. Companies should be free to make a profit and shouldn't be limited in that endeavor...UNLESS, it becomes a national security issue.
It HAS become a national security issue. The Chicoms are building their military double digits and have for a couple of decades. American middle class is dying, our way of life, our standard of living.
It is a national security issue. Our country is in trouble. We are broke and in jeopardy of collapse.
I completely agree.
America needs to build back up, America.
Now.
“Seems to me that under current law, if you file a form 1040
with the IRS, you are already required to disclose any
foreign investments, or holdings, on an annual basis, or
it’s a felony.”
True. And file detail disclosure if it is over $10,000. The change is that the foreign entities will now be required to withhold 30% of US Citizens income as taxes and remit it to the US Treasury.
Canada already has a similar system and I am right now trying to clean up a big mess (over $50K due) for a new client who was entitled to a big refund but his accountant never filed the returns.
“But two administration over a total of more than 12 years, have been exporting every America jobs they could.
Both parties.”
Three administrations over 22 years...
Remember Hillary was on the Board of Directors of Walmart. Remember Charlie Trie and all the illegal campaign contributions from China to Slick Willie that were never prosecuted. Most favored nation trading status for China....
Yes, both parties and many, many years. (Also, no enforcement of laws blocking mergers of big banks, oil companies, utilities and many other businesses)
Stephen Pratt outlined the 12 goals of the Fabian Society, a progressive socialist group in England as published in their 1910 plan of action to make a country a socialist government through evolutionary socialism. (It’s the old frog in a frying pan parable in action and we are the frogs)
1. Government ownership or control of all the land.
2. Government ownership or control of major industries.
3. Government ownership or control of labor.
4. Government ownership or control of communications & transportation.
5. Government ownership or control of credit & lending.
6. Government ownership or control of insurance.
7. Government ownership or control of the educational system.
8. Eliminate power & control of the family unit.
9. Eliminate power & control of religion.
10. Promise minimum wages.
11. Promise lifetime pensions.
12. When necessary, justified use of force is used to attain socialist goals.
They gave us their playbook in 1910 and we we blind to their actions. Shame on us!
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