40 thoughts on “I don’t think Bruce Ackermann will be leaving the IBS Hall of Shame anytime soon”
So, should we all put a concentrated effort in replaying to him in measured tones with reasoned arguments about why his views and opinions are plainly wrong. We have had two successes with Pete the Planner and Al Lewis at Market Watch, so why not Mr. Yale Attorney. Worth the effort, I think… I might try to find his email, or twitter account this evening.
Oooh, he’s quoted me! (I’m Scotsgirl151) He’s released my children from their punishment, but still agrees with FATCA. Aaargh, bash head against brick wall…
I just left a comment on his latest article.
For a country that is so against social programs that benefit societies on the whole, there are some that downright sound like communists.
Bruce Ackermann must be writing his articles to earn “tenure” in the IBS Hall of Shame. He’s certainly working hard at it.
No self-respecting academic with all those fancy Yale diplomas can be so stupidly blind as to the injustices ex-pats suffer — “taxation without representation” with “no services from the government.”
Ackermann is just another jingoistic idiot with a PhD. He’s earning his tenure well.
@Scotgirl… Good work, he recognized your comment, and recognition is part way to acknowledgement that some of his positions have great and unintended consequences.
I did not comment on his last piece, but think I will later tonight on this one. It will be hard for him to back down on FATCA, but maybe if there are some good arguments that might resonant with him as why it should not extend to US citizens no longer resident in America that he would be open to listening to.
I commented. Not that I think it will do any good with this guy.
@Scotgirl, you’re on your way to being famous, like Petros!
@FromTheWilderness
I understand the frustration in your comments, (I feel them too) but we will not win the argument with him, or even get him to listen if we call him stupid or an idiot. I bristle when someone dismisses my opinion as that of an idiot, and so I would be cautious on trying to reach out with those characterizations. Just my opinion, and I could be wrong… 🙂
Okay, this is interesting. There were 3 comments on his latest. Just went back to see if there were any others, and the comments are gone, and counter is set to 0…??!!
@ Just me,
This is why you are Isaac Brock’s Ambassador-at-Large.
You are 100% correct about reaching out to Homelanders such as Dr. Ackermann in a constructive manner. That’s why I try to keep my rants confined to Isaac Brock, which is read mainly by fellow ex-pats–who are all frustrated to various degrees.
Once again, I would like to compliment you on your tireless writing. Your blog entries and comments on articles are always a pleasure to read.
Sorry Bruce it’s a no win situation, if America attempts to block people financially they won’t become US citizens just Green Card holders so they won’t have to renounce later if the US is lucky.
It would be easier for the US to adopt Resident-based citizenship and as for “foreingers” investing in the US well that’s down to international competition. If the other 80% of the world doesn’t tax as the US puts it “non-residence aliens” and then suddenly the US taxes NRAs regardless of their place of residence – US investment by foreigners will dry up pure and simple. The US is not the only game in town.
Lack of investment will speed America’s economic decline in world GDP. So the next internet wonder will be in the UK or Australia or Canada, but not in the sour grapes FATCA zone of the US.
Saverin played his hand wisely and won – face it (no pun inteaded). The US can’t force the rest of the world to change it tax regimes for the benefit US Senate.
Facebook is just a symptom that world change is at hand and it takes more than offering the world just “we’re the most powerful nation on Earth” non-sense. It won’t be long before China will be exerting its pressure on issues in a bigger way to the US’s loss.
@FromTheWilderness
Thanks for taking my comments in a positive way. I was worried after I sent them, that I might come across condescending. That was an admonition as much for me as you.
I often get frustrated myself and want to call folks idiots in my comments, and then I pause, take it out, and start over. Of course, I am lucky that my wife reigns me in too, and that helps. She is always telling me when I am sounding too strident.
It is good to have rants amongst friends, as it bonds you together in a fight against a common foe, “ignorance.” However, I also recognize that we have a lot of anonymous readers, and I want to put on our most positive face. We are not raving lunatics here, even though I have been told that there are those in DC, that want to dismiss this blog as extreme. I don’t want to give them any excuse for that mis-characterization. 🙂
@Just Me
Yes, I have been called ‘extreme’ by some family members. And in a way, they are correct. I believe I have progressed from extremely stressed to extremely angry. Probably do that several times in any given day.
I do so much appreciate your posts. They have a calming effect on me. Your comment ‘my wife reigns me in too’ rang a bell with me. My late husband often ‘reigned me in’. I suspect if he were still alive, he would have been initially indignant that the US was trying to reclaim me; then he would have spent hours doing research on the situation and then still more hours doing his best to calm me down.
@Just me
If America’s founders were alive today, they would be dismissed by the powers-that-be as extremists as well. Another indication of how far America has drifted from its roots.
No matter how academics try to frame it, the fight against “citizenship-based taxation,” and the various repressive Acts supporting it, is the crucible from which America was born.
@Tim…
I take your point, and you are absolutely right.
We should keep hoping that Bruce will see the light. Pete the Planner and Al Lewis critisized us, then they came around pretty quickly and did a radio and an editorial, respectively, that showed our side of the story. Steven Mopsick was very critical of some aspects of our opinions here, being in engaged in some pretty hot discussion with some of us, then he turned around and called for the abolition of citizenship-based taxation. Now he is on the tax advisory panel of the American Citizens Abroad (www.aca.ch).
Attempting to get people fired for views is not helpful.
@justme Thanks 🙂 I’ve commented again, thanking him for acknowledging the Accidental Americans and have tried to put a restrained comment about FATCA and the impact it’s having on us. It’s hard to be restrained when I’m just so cross!
@outraged A long long time ago I worked in financial PR and was regularly quoted in the FT, Times, D Tel etc. Maybe I ought to go back into PR, ha, ha, ha!
Bruce also doesn’t seem to understand that with FATCA, foreign banks are in essence, tax agents of the IRS. No other country in the entire world does this. And the 50k limits are quite low. This amount of money is not enough to retire on nowadays!
It would be very easy to implement the FATCA and NOT have the collateral damage. The bank could easily rule out long-term permanent residents. Ask for a foreign drivers license, and maybe some utility bills.
Still, I think the idea of being discriminated against due to having been born in he US is just plain deplorable, something is better than nothing.
@scotgirl Just read your comment on Ackermann’s LA Times article. Very, very impressive. How do you keep your cool?
Wikipedia says Ackermann “…[co]wrote The Stakeholder Society in 1999 which served as a basis for introduction of Child Trust Funds in the United Kingdom.” Such glorious irony, then, that UK CTFs and their successor junior ISAs are in effect off-limits to US persons, a state of affairs that Ackermann defends.
@Watcher Good find!! I’ll use that in a future comment to him! Fantastic!
@scotgirl
FYI, I’ve taken up with my MP the case of Americans in the UK — in particular duals and accidentals, these being the most sympathetic examples — being denied UK accounts for ISAs and similar. After some to-and-fro over a couple of months, I think I have some traction. He’s engaged, and has taken it up with the Treasury and is also considering the Home Office.
No idea where this will lead, of course. If anywhere. But it’s at least encouraging that there may be some interest in the UK govt in protecting innocent UK citizens unfortunate enough to be drawn into this unpleasant US web.
@John…
Thanks for that link to emergingmoney.com. That was a very good write up making a straight line connection between FATCA and what Saverin is doing. David Kuenzi was the author, and I emailed him this morning thanking him for his perspective and and gave him links back here where he would find support for his opinions. His email is… david.kuenzi@thunfinancial.com
@Scotgirl..
I saw yours this morning, and you have shamed me for being tardy on a comment, so I have entered one too. I am FBAR_Compliant And… if I haven’t said it before, welcome to Isaac Brock. Your efforts are needed and appreciated.
So, should we all put a concentrated effort in replaying to him in measured tones with reasoned arguments about why his views and opinions are plainly wrong. We have had two successes with Pete the Planner and Al Lewis at Market Watch, so why not Mr. Yale Attorney. Worth the effort, I think… I might try to find his email, or twitter account this evening.
Oooh, he’s quoted me! (I’m Scotsgirl151) He’s released my children from their punishment, but still agrees with FATCA. Aaargh, bash head against brick wall…
I just left a comment on his latest article.
For a country that is so against social programs that benefit societies on the whole, there are some that downright sound like communists.
Bruce Ackermann must be writing his articles to earn “tenure” in the IBS Hall of Shame. He’s certainly working hard at it.
No self-respecting academic with all those fancy Yale diplomas can be so stupidly blind as to the injustices ex-pats suffer — “taxation without representation” with “no services from the government.”
Ackermann is just another jingoistic idiot with a PhD. He’s earning his tenure well.
@Scotgirl… Good work, he recognized your comment, and recognition is part way to acknowledgement that some of his positions have great and unintended consequences.
I did not comment on his last piece, but think I will later tonight on this one. It will be hard for him to back down on FATCA, but maybe if there are some good arguments that might resonant with him as why it should not extend to US citizens no longer resident in America that he would be open to listening to.
I commented. Not that I think it will do any good with this guy.
@Scotgirl, you’re on your way to being famous, like Petros!
@FromTheWilderness
I understand the frustration in your comments, (I feel them too) but we will not win the argument with him, or even get him to listen if we call him stupid or an idiot. I bristle when someone dismisses my opinion as that of an idiot, and so I would be cautious on trying to reach out with those characterizations. Just my opinion, and I could be wrong… 🙂
Okay, this is interesting. There were 3 comments on his latest. Just went back to see if there were any others, and the comments are gone, and counter is set to 0…??!!
@ Just me,
This is why you are Isaac Brock’s Ambassador-at-Large.
You are 100% correct about reaching out to Homelanders such as Dr. Ackermann in a constructive manner. That’s why I try to keep my rants confined to Isaac Brock, which is read mainly by fellow ex-pats–who are all frustrated to various degrees.
Once again, I would like to compliment you on your tireless writing. Your blog entries and comments on articles are always a pleasure to read.
Sorry Bruce it’s a no win situation, if America attempts to block people financially they won’t become US citizens just Green Card holders so they won’t have to renounce later if the US is lucky.
It would be easier for the US to adopt Resident-based citizenship and as for “foreingers” investing in the US well that’s down to international competition. If the other 80% of the world doesn’t tax as the US puts it “non-residence aliens” and then suddenly the US taxes NRAs regardless of their place of residence – US investment by foreigners will dry up pure and simple. The US is not the only game in town.
Lack of investment will speed America’s economic decline in world GDP. So the next internet wonder will be in the UK or Australia or Canada, but not in the sour grapes FATCA zone of the US.
Saverin played his hand wisely and won – face it (no pun inteaded). The US can’t force the rest of the world to change it tax regimes for the benefit US Senate.
Facebook is just a symptom that world change is at hand and it takes more than offering the world just “we’re the most powerful nation on Earth” non-sense. It won’t be long before China will be exerting its pressure on issues in a bigger way to the US’s loss.
@FromTheWilderness
Thanks for taking my comments in a positive way. I was worried after I sent them, that I might come across condescending. That was an admonition as much for me as you.
I often get frustrated myself and want to call folks idiots in my comments, and then I pause, take it out, and start over. Of course, I am lucky that my wife reigns me in too, and that helps. She is always telling me when I am sounding too strident.
It is good to have rants amongst friends, as it bonds you together in a fight against a common foe, “ignorance.” However, I also recognize that we have a lot of anonymous readers, and I want to put on our most positive face. We are not raving lunatics here, even though I have been told that there are those in DC, that want to dismiss this blog as extreme. I don’t want to give them any excuse for that mis-characterization. 🙂
@Just Me
Yes, I have been called ‘extreme’ by some family members. And in a way, they are correct. I believe I have progressed from extremely stressed to extremely angry. Probably do that several times in any given day.
I do so much appreciate your posts. They have a calming effect on me. Your comment ‘my wife reigns me in too’ rang a bell with me. My late husband often ‘reigned me in’. I suspect if he were still alive, he would have been initially indignant that the US was trying to reclaim me; then he would have spent hours doing research on the situation and then still more hours doing his best to calm me down.
@Just me
If America’s founders were alive today, they would be dismissed by the powers-that-be as extremists as well. Another indication of how far America has drifted from its roots.
No matter how academics try to frame it, the fight against “citizenship-based taxation,” and the various repressive Acts supporting it, is the crucible from which America was born.
Good article.
http://emergingmoney.com/politics-markets/facebook-cofounder-eduardo-saverin-citizenship-renunciation-not-about-taxes/
@Tim…
I take your point, and you are absolutely right.
We should keep hoping that Bruce will see the light. Pete the Planner and Al Lewis critisized us, then they came around pretty quickly and did a radio and an editorial, respectively, that showed our side of the story. Steven Mopsick was very critical of some aspects of our opinions here, being in engaged in some pretty hot discussion with some of us, then he turned around and called for the abolition of citizenship-based taxation. Now he is on the tax advisory panel of the American Citizens Abroad (www.aca.ch).
Attempting to get people fired for views is not helpful.
@justme Thanks 🙂 I’ve commented again, thanking him for acknowledging the Accidental Americans and have tried to put a restrained comment about FATCA and the impact it’s having on us. It’s hard to be restrained when I’m just so cross!
@outraged A long long time ago I worked in financial PR and was regularly quoted in the FT, Times, D Tel etc. Maybe I ought to go back into PR, ha, ha, ha!
Bruce also doesn’t seem to understand that with FATCA, foreign banks are in essence, tax agents of the IRS. No other country in the entire world does this. And the 50k limits are quite low. This amount of money is not enough to retire on nowadays!
It would be very easy to implement the FATCA and NOT have the collateral damage. The bank could easily rule out long-term permanent residents. Ask for a foreign drivers license, and maybe some utility bills.
Still, I think the idea of being discriminated against due to having been born in he US is just plain deplorable, something is better than nothing.
@scotgirl Just read your comment on Ackermann’s LA Times article. Very, very impressive. How do you keep your cool?
Wikipedia says Ackermann “…[co]wrote The Stakeholder Society in 1999 which served as a basis for introduction of Child Trust Funds in the United Kingdom.” Such glorious irony, then, that UK CTFs and their successor junior ISAs are in effect off-limits to US persons, a state of affairs that Ackermann defends.
@Watcher Good find!! I’ll use that in a future comment to him! Fantastic!
@scotgirl
FYI, I’ve taken up with my MP the case of Americans in the UK — in particular duals and accidentals, these being the most sympathetic examples — being denied UK accounts for ISAs and similar. After some to-and-fro over a couple of months, I think I have some traction. He’s engaged, and has taken it up with the Treasury and is also considering the Home Office.
No idea where this will lead, of course. If anywhere. But it’s at least encouraging that there may be some interest in the UK govt in protecting innocent UK citizens unfortunate enough to be drawn into this unpleasant US web.
@John…
Thanks for that link to emergingmoney.com. That was a very good write up making a straight line connection between FATCA and what Saverin is doing. David Kuenzi was the author, and I emailed him this morning thanking him for his perspective and and gave him links back here where he would find support for his opinions. His email is… david.kuenzi@thunfinancial.com
@Scotgirl..
I saw yours this morning, and you have shamed me for being tardy on a comment, so I have entered one too. I am FBAR_Compliant And… if I haven’t said it before, welcome to Isaac Brock. Your efforts are needed and appreciated.