Fellow Isaac Brocker, Blaze has heard the following:
To help save the economy, the U.S. Government will announce next month that the Immigration Department will start deporting seniors instead of illegal’s in order to lower Social Security and Medicare costs.
Older people are easier to catch and will not remember how to get back home.
She noted that the US is kicking out all the Grandmas on the bus so they can seize their life savings because they didn’t know they had to file FBARs before they were deported.
@bubblebustin, ever since I read your proposal, I’ve been thinking about it. I guess what it comes down to, is that, as a Canadian, if I was going to protest, or rally, I feel it should somehow be a rally to force my govt to protect me, my finances and my privacy. It would be on July 1 – Canada Day, not July 4, and it wouldn’t be at a US consulate. If you were successful in organizing this, and there was one in Calgary, I could see myself perhaps showing up in support and solidarity, but it would also mean taking a full day off work to do so, since I get July 1 off, not July 4…. Spiritually, I am in support, practically, not sure how feasible it is for me, personally.
Let’s see if I can get it to run here. I love Monty Python
@outragedcanadian, hmmm, I suppose for the time being our rallying will remain here at Isaac Brock Society. I think that there will be some major developments soon, but that’s only a gut feeling.
@bubblebustin
Let me know what I can do to assist with any rally. I have experience from many years ago.
When I was a University of Toronto student, the ‘Bay of Pigs’ occurred. The U.S. consulate in Toronto was being picketed. One of my profs gathered together a large group of his “american-born” students to picket the pickets.
Also, while at U.of T., Honest Ed’s Warehouse on Spadina was holding a “Pink Elephant Sale”. They actually had a baby elephant, spray painted pink tied up outside on the sidewalk. I was one of quite a few students, paid, to walk up and down with picket signs objecting to the cruel treatment of the elephant.
It is many, many years past, but I would be more than happy to join a rally. I’ll keep both July 1st and July 4th open.
@petros
Come to think of it, anyone with gold filings, is this an asset and if so, on what line on form TD F 90-22.1 should it be written ?
@tiger, thank you! Let’s see if we can generate any momentum. So many are still are confused and not knowing whether to remain anonymous (laudable as a self preservation move, of course)
@calgary411, @ saddened123 and @all. I liked the bus ride and the comments.
To all those concerned, have a nice mother’s day.
@Greenwood, thank you from one of those Canadian grannies!
@Greenwood
And I thank you too. From another Canadian grannie!
Greenwood wrote: “@petros Come to think of it, anyone with gold filings, is this an asset and if so, on what line on form TD F 90-22.1 should it be written ?”
The official policy of the current leader of the financial world, the all-powerful Bernank, maintains that gold isn’t money. So obviously, if isn’t money, it is not a financial account. It is just a commodity like spam.
http://righteousinvestor.com/2011/07/18/thank-you-ben-gold-is-not-money-bernanke-celebrating-1600-gold/
From the IRS themselves: http://www.irs.gov/businesses/article/0,,id=255986,00.html
NO:
Precious Metals held directly
Personal property, held directly, such as art, antiques, jewelry, cars and other collectibles
…but word is that these will become reportable in the next couple of years, as will real estate holdings.
Some links on the fun-filled world of gold and all the differences between FBAR and Form 8938. FinCEN issued new regulations on this back in February 2011 which made matters even murkier.
http://www.mountainvision.com/newsletter.php?view=65b9eea6e1
http://nestmann.com/form-8938-another-nail-in-the-coffin-of-offshore-financial-privacy-part-i/
http://nestmann.com/form-8938-another-nail-in-the-coffin-of-offshore-financial-privacy-part-ii/
I’m sure Carl Levin would argue that if you have a dentist do any work on your gold fillings, it creates a bailment, and that makes the dentist a financial institution, and if there’s no FFI agreement he has to withhold 30% of your teeth, and also you should go into the OVDI and they’ll take another 27.5% of your teeth. Hope you don’t mind eating lunch through a straw.
@Bubblebustin, these items may not be included as yet, but when it comes to calculating the exit tax if you are over the minimum threshold that requires you pay it in order to renounce your US citizenship, then you can bet your bottom Loonie the market value of these assets on the day before you renounce is included, and you must pay an exit tax on the appreciated value increse from the day you acquired them, and be able to substantiate these values with appraisals that meet the IRS qualification requirements. And that includes your granmother’s diamond wedding ring you inherited 75 years ago.
@roger, 🙁
Eric, Well, I guess, I’m hooped then. :
@All,
Happy Mother’s Day to Mothers and all who have or hold special memories of their mothers. Hope everyone takes time to enjoy the day.
While the US takes sadistic pleasure in punishing its ex-pats with citizenship-based taxation, no government services, and no representation in congress. Switzerland in contrast, provides welfare assistance for its ex-pats when they are in need.
http://www.swissinfo.ch/eng/swiss_news/Switzerland:_We_look_after_our_own.html?cid=32898472
From the article:
“Every year some 30,000 Swiss leave their homeland to try their luck elsewhere. For those for whom the dream of a better life doesn’t come true, Swiss law obliges the government to ensure they are financially looked after.”
“a spokesman for the United States embassy, Alex Daniels, said Americans overseas are not entitled to any welfare or unemployment benefits, and any financial assistance provided for repatriation must be paid back.”