When will the fools wake up and repeal FATCA?
Thanks to low domestic savings rates and profligate government spending, the U.S. economy is reliant on continuous influxes of foreign investment to provide the capital necessary for growth. Yet no doubt thanks in part to FATCA, foreign direct investment in the US for the first half of 2012 declined by 39.2% over the prior year, and China surpassed the US as the world’s largest recipient of global foreign direct investment for the first time since 2003.
@geeez
What concerns me is that these “compliance firms” will lobby to keep FATCA, making our job that much more difficult!
The FATCA Compliance Complex (FCC) will be as hard to kill off as the Military Industrial Complex, once it is fully entrenched.
I just got another bulletin from that Infernal Revenue Service letting me know that they’ve signed a IGA with Denmark. It feels so much like defeat to read what seems like gloating on their part.
* i fear america may already be mortally wounded. hugely due to globalization. we were the greatest nation there ever was in history. it’s just going to take awhile to die. all the washington fatcats have been selling-out our country for years now. our government is controlled by a nwo that is creating a caste system in usa. though religion is so politically incorrect and of course all of this is only my personal belief/opinion, it appears the muslim people want us dead and the hindu people want to enslave us. could be i’m alone in thought and possibly delusional.
@paul,
Well, I’m not going to touch that too much except to say, why would you think that — US exceptionalism and the fears put into your minds? Perhaps the US should ask if it has butted into other countries’ business for far too long , perpetuated the wars and the Military Industrial Complex far too long.
To me, yours is a sad statement. I feel sorry for what you are feeling. Then again, perhaps I shouldn’t comment. US business is no longer my business. As people who have left the “homeland” many of us have a different lens to look through. We’re much more scared of the extra-territorial punitive action of the US on the people who have chosen to live in other lands, wherever we may be.
May you find peace.
*our two party political system is a farce and has failed us. the elections are decided years in advance american’s are so easily manipulated. 7000 small banks went bust and big boys got bailouts. seems at the very least unfair. communist propaganda that we were supposed to be so fearful of years ago seems mute now, yet a new kind of propaganda runs rampant in our country delivered in huge doses everyday in our medias for years. i guess my only problem is picking the winning team to be on, buddha or mohammed because that’s reality these days. my delusion may be returning.
*cal. agree 100%, think you meant american expansionism. ?. idk we are only self-ordained police of the world. wars make money these days, of course taxpayers foot the bill even if uncle sam puts it on taxpayer line of credit. if our gov sold bonds to finance our military current conflicts not to be confused with a strong, well-financed military i wonder how much public support there would be. I want so very badly to be on my own boat and just cruise for awhile. most of the world is still pretty cool, people too. materialism doesn’t seem to satisfy as much anymore personally boat prices seem to be way down right now.
@paul
Regarding being on your own sailboat. Been there done that, and even back in 1990, as I was crossing the Pacific, at every port, the Customs officials were filling out the Coast Guard Small Vessel report, to fax to Hawaii, so the USGovernment could keep track of every small vessels going and coming in the most remote ports in the South Pacific. And that was before Google Earth!
There is no hiding from these guys. Back then, only the French were ignoring the requirement in New Caledonia, but I bet now, post 9/11 there are following the US orders. It is their Pacific, after all. 🙂
@paul,
No, I didn’t mean American Expansionism, but that is another aspect of the Exceptionalism.