When you can’t make them see the light, make them feel the heat. – Ronald Reagan
The Canadian “firewall” is important to prevent or mitigate the effects of FATCA around the world. If the “FATCA decision” is left solely in the hands of the banks and politicians I fear that FATCA (in some form) will be implemented in Canada.
Public opinion is important in influencing politicians. After all, no party (especially on the 200th anniversary of the war of 1812) wants to be seen as doing he bidding of the Americans.
Ronald Reagan used to say that if you couldn’t make the politicians see the light, you would take the case to their constituents, who would then make the politicians feel the heat. In other words, “Everyday Canadians” need to understand how FATCA will affect them. How it will affect them regardless of their citizenship. The politicians need to be reminded that Canada is a democracy and handing the country over to the IRS will have implications for their political futures.
People have short attention span. How would you explain the effects of FATCA to an “Everyday Canadian”? How would you explain now it is bad for Canada? How would you explain why citizenship-based taxation hurts ALL Canadians and NOT just “US persons”?