Posted on 12/15/2011 5:10:16 AM PST by Cardhu
Is this more Dodd/Frank?
Pray for America
When they finally build that border fence, it will have the barbed wire facing to keep Americans in.
And foreign banks would comply with nosy American regulations for what reason, I wonder?
What payments are they talking about?
So, it’s back to the tried and true. Go somewhere and establish a local corporation with bearer shares issued to you. Put the money in the corporation in the foreign bank and have them invest it however you desire.
“O” did SOMETHING to make it worth their while... I guess we’ll find out someday
The “O” administration is a crime in progress
I think they may be talking about withholding 30% of money transfer deposits from American citizens, as a 30% withholding is standardard income tax withholding for non-American citizens unless arrangements are are made with certain countries.
To get money from the Fed and the IMF.
How can we force other countries to abide by our banking laws? Why don’t they just tell the US to take a frickin’ hike.
This is utterly ridiculous.
I wouldn’t be surprised if sometime in the next five years or so, the US government makes it a felony to have any kind of bank account overseas.....even if you live there, or like me, are a permanent resident of an overseas country.
And foreign banks would comply with nosy American regulations for what reason, I wonder?
At a guess, reciprocal treaties requiring that specific types of laws are honored. I know theres an agreement with every country on income taxes. If youre a US citizen working almost anywhere you pay US taxes (which are a bargain.) Foreign nationals in the US are supposed to pay their countrys tax.
The government wants to know exactly where, and how much, money you have. Every home sale, stock sale, bank deposit, withdrawal, IRA and 401 transaction, paycheck, dividend check, internet sale or purchase, is being tracked. The government is already real good in knowing where it is all at. Just a few more loopholes to close.
Good question, even the Swiss rolled over
Fear of being accused of being racist to a black president?
Conversely when EU bankers seek IMF (read US taxpayer) bailouts to keep their banks afloat, we need a Congress that replies “take a hike”
Definitely a first step in that direction.
European banks are under no compulsion to open or maintain accounts from anyone -- treaties or not.
This is how your ‘free’ health care is paid for.
Live too long and cost too much you exceeded the max payout, goodbye house...
Just ask anyone related to an Alzheimer’s patient.
I have family and coworkers who are paying $1000.00 each month out of pocket. YES ONE THOUSAND DOLLARS!
Illegals are free.
Also in Illinois the illegals are too good for generic prescriptions, only the best!
IIRC it is a 7 year clawback on assets.
I wonder how big a deal this is?
Considering the current banking crisis in Europe, anybody with money stashed there is mentally defective.
Just ask Jon Corzine.
Corzine will have to do some quick shopping....
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