UPDATE 2: This post has been upgraded to a press release at newswire.ca and digitjournal.com. Thanks go to Jim Jatras.
UPDATE: Jim Jatras has provided an revised Word Version of the text below for mass distribution.
The following is a message from Jim Jatras:
Friends
Please review that following and submit comments. I hope it’s more or less self-explanatory.
As indicated in a previous comment, it’s in effect a kind of ad or statement inviting people to contact Harper, Flaherty, MPs and oppose FATCA/IGA. Ideally, it’s the kind of thing that would be posted online or even in print publications as an ad, if there were money for that. (If Canadian industry weren’t spending money trying to get the “best deal possible” from the Americans under an IGA instead of fighting.) Certainly individual comment letters to the Finance Department should be sent, but let’s not kid ourselves they will pay much attention them. What we need is a groundswell of outraged Canadians to contact Harper, Flaherty, and MPs as soon as possible with a simple message: NO!
I realize that it’s always risky to hang a draft out where anyone can take a whack at it, but feel free. Also, any ideas on where and how it can be posted and distributed are welcome.
BTW, this is the kind of thing that routinely gets placed in DC in publications like Politico, The Hill, Roll Call, and other pubs aimed at Congress. Picture a similar message aimed at Congress but making an American argument against FATCA, as this makes a Canadian one. That’s how we get things done – if we had someone with money and willing to fight.
Best
Jim
Call or email Stephen Harper, Jim Flaherty, and Your MP Today!
Call or email Stephen Harper, Jim Flaherty, and Your MP Today!
STOP an Impending Massive Handover of Canadian Sovereignty to the United States!
Tell the Government: Canada Must Say NO
to the United States on ‘FATCA’
Recently the Department of Finance invited comments on what was characterized as “an agreement to improve cross-border tax compliance through . . . the provisions enacted by the United States commonly known as the Foreign Account Tax Compliance Act (FATCA).” This eleventh-hour invitation came as sources in both Ottawa and Washington announced that they were close to finalizing an intergovernmental agreement (IGA) that would, in effect, deputize the Canadian government to enforce this American law in Canada.
The Department’s invitation is to “persons whose interests are affected by the provisions of FATCA” but does not spell out that each and every Canadian citizen would suffer from FATCA and from an IGA to implement it:
Canadian citizens have an interest in preserving Canada’s sovereignty against US encroachment. However it is disguised, FATCA is a unilateral U.S. initiative. The U.S. didn’t negotiate a global tax scheme with Canada and other countries but instead enacted an unprecedented extraterritorial law and demands that Canada comply and bear the costs. An IGA simply puts a Canadian glove on the hand enforcing American law.
Canadian taxpayers have an interest in a tax policy that benefits Canada’s needs, not America’s. Sold under the guise of “reciprocity” and “partnership,” an IGA in reality would be a costly one-way street imposed by the U.S. Given the differences between the two countries’ tax systems, FATCA would accelerate a zero-sum game that siphons wealth from Canada and robs the Canadian treasury.
Canadian consumers have an interest in avoiding foreign schemes that impose costly non-economic regulations on Canadian firms (banks, insurance companies, pension funds, stock and investment companies) – who will then pass those costs on to consumers. With or without an IGA, FATCA’s costs will be in the billions of dollars (for example, one major bank alone would pay an estimated $100 million in FATCA compliance!) These costs would be non-productive as regards the Canadian economy and a waste of human and material resources. Imposing these costs on Canadians supposedly is justified by the unproven hope that FATCA may trip up American “tax cheats,” even though FATCA does little specifically to catch such people.
Canadians as human beings have an interest in ensuring their rights are protected under sovereign Canadian law. FATCA demands extraordinary disclosure of private information of U.S. citizens in Canada in violation of Canadian laws, such as the Personal Information Protection and Electronic Documents Act, whose application Canada would be forced to alter under an IGA. Many of these resident Americans are Canadian dual citizens who would be denied protection of Canada’s laws to appease the U.S. Once it’s established a foreign government can demand abrogation of such rights, even of Canadian citizens, where’s the limit?
So why is the Government considering an IGA with the United States? Because of the very real fear that Washington otherwise would unilaterally impose FATCA on Canada at ruinous cost, especially a 30% withholding penalty on Canadian firms’ U.S.-derived revenue. Simply put, this is a threat of U.S. economic sanctions against Canada.
Finance Minister Flaherty and industry leaders publicly have talked a good fight on FATCA while in private negotiating Canada’s capitulation under an IGA. Canadians must not let that happen! Instead:
Contact Prime Minister Harper and tell him No on FATCA, and No on an IGA with Washington!
Contact Minister Flaherty and tell him No on FATCA, and No on an IGA with Washington!
Contact your Senators and MPs and tell them No on FATCA, and No on an IGA with Washington!
Get the FATCA facts! Find more information at [Isaac Brock Society and Repeal FATCA]
@Tim, Thanks.
http://www.globalnews.ca/6442733844/story.html
“Census data shows concentrations of U.S. citizens – who may also be Canadian citizens – in border areas, large cities and in the B.C. interior, Vancouver Island and the Yukon. The Yukon has the highest percentage of Americans of any province or territory, followed by B.C.
(Of 1,600 postal areas in Canada, the top ten for U.S. citizens include six along the Maine-New Brunswick border. In Campobello Island, N.B., over a third of the population are U.S. citizens.)
Similarly, the Kootenays, the southern edge of Alberta, the Lake of the Woods region, Windsor-Essex and Niagara have concentrations of Americans.
The Annex neighbourhood in Toronto, which attracted a large number of draft evaders, is still the top postal code for Americans in Ontario.”
a few more-these are all columnists who have contacted us for interviews. I know there are more but these are the only ones I remember
@zoomermag (peter muggeridge)
@joshspero
@amyfeldman
@atossaaraxia
@JamieGolombek
Thanks to Tim for these:
@kinsellawarren
@calgarygrit
@jeffjedras
@djclimenhaga
@nobledreamer
Bravo re Chris Hall! And you even got an answer!
Outstanding, nobledreamer and Tim.
I see zoomermag listed. I got this acknowledgement. I hope I or someone hears further from Zoomer, the magazine of CARP.
Reminder: Comments still rolling along on the Yahoo.finance posting of the Appeal at http://finance.yahoo.com/news/stop-impending-massive-handover-canadian-204800646.html;_ylt=Ar_F8LemU0ND9wMrBMc1uqjQtDMD If you haven’t added your two cents yet, please do. “Repeal” just commented there:
“A lot of great comments. But it’s important that those commenting here ALSO take advantage of the links in the posted IBS statement and call or write an email to (take your pick, can be and/or) your MPs (whether Conservative or Opposition) and the Government (Harper and Flaherty). The message can be very very simple: “I’ve heard that Canada is negotiating a FATCA deal with the Americans. My answer is ‘No!’ Washington cannot be permitted to enforce their law on Canada.” Please use the links! If enough people do that this attack on Canada’s sovereignty and economy CAN be stopped. “
@Jim
…and especially the link that the Department of Finance itself provided for input on any Intergovernmental Agreement it may negotiate on FATCA, and to call, write or email Kevin Shoom there:
http://www.fin.gc.ca/treaties-conventions/notices/unitedstates-etatsunis-eng.asp
Mr Shooms email: kevin.shoom@fin.gc.ca
@bubblebustin
Ooh, good. “Repeal” will post that on the Yahoo.finance page.
And now for a inspirational video. Please take a short moment to enjoy.
@Jim…
Just an FYI, some of us have been using the FATCA question string to keep track of FATCA related articles, blogs, stories. You might just check this out for reference material.
Thanks so much, bubblebustin!
That’s the idealism to keep in mind — real good and lovely people in real situations. And, they can be found all over the world.
@bubblebustin
Thanks my day seems alot brighter after watching that video.
Everyone has been doing so much lately to spread the word about the FATCA fiasco. I did a bit too with e-mails but then I started doodling. Here’s the result (sing it to the tune of “I’d like to teach the world to sing”) …
They’d like to make the world their zone
And weigh it down with forms
Tax our savings, fines galore
And snatch our dear first borns
They’d like to make the world comply
Yet sow disharmony
They’d like to keep us in their claws
And never let us free
We’d like to see the world for once
All standing head to head
And hear an echo through the hills
We want the FATCA dead
That’s the song we need
Let the world sing today
A song so loud it echoes on
‘Til FATCA goes away
They’d like to teach us to obey
But we want none of that
They’d like to teach us to obey
But we want none of that
They’d like to make the world their zone
And weigh it down with forms
Tax our savings, fines galore
And snatch our dear first borns
We’d like to see the world for once
All standing head to head
And hear an echo through the hills
We want the FATCA dead
Thanks, Em.
It sounds like one that should make the Top Forty to me. Words to sing loud and clear.
@Em,
Fantastic!
Did you read my mind? I literally went to bed last night thinking, wouldn’t it be great if there was some clever tune, that we could put words to, and then get a Youtube video uploaded and pass around, as another mechanism of spreading the FATCA word to those that would never read a tax policy blog.
I was scratching my head, trying to think what it might be, and then, there you are with this! (I have no musical ability, so hopeless in these areas.)
This looks like you have come up with is a foundation of such a song. Now, who has the guitar and a good voice to produce it, and have the words captioned too?
Surely there is a volunteer out there!
*@Em, That was great!! Love it!
@Em
That was brilliant! Now to get it piped into the Parliament buildings.
I play the ukelele
@Petros
Re: “I play the ukelele”
I thought you were Alaskan, not Hawaiian.
*@all, Hey, I bet Petros can play a mean ukelele!! Go Petros!
@ Jim Jatras
Petros is CANADIAN! His CLN says so. 🙂
I dig ukelele music and I’d love to hear Petros play. 🙂
@Em
Absolutely fantastic.
I have a son who plays the guitar and can play the harmonica at the same time. His daughter plays the sax, flute and violin (she might have a problem playing them all at the same time, but I could ask her). I am sure they would be more than happy to storm the doors of parliament, instruments in hand. Would make an impact for sure!
@ Petros & tiger
Happy to hear there is some musical talent available to Brock. Alas I am tone deaf but I used to be able to hold a beat on the drums.
@Jim, My mother was born in Hawaii, so I suppose that make me part (not-aboriginal though) Hawaiian. Picked up the ukelele when visiting there a couple years ago.
@Jim & Calgary
Yep, we got lucky. I was very surprised as his response was in less than 5 minutes. I sure hope he finds something in it that interests/inspires a story.
@Em & Petros- you have a gift! I really, really got a kick out of that. Once Petros creates a tune, we can all start practising ;-P
Start humming: