31 thoughts on “Instead of a #FATCA IGA perhaps Canada should allow itself to become part of the US”

1. When I read about Diane Francis’ comments, I thought about the exact same thing, but I think it would be a bad, bad thing…

2. “If Canada is going to be the target of a creeping takeover from a big player, we may as well manage the process”, say Ms Francis.

   Some people would call that treason.

3. Diane Francis is welcome to move to the US and live there, if she thinks it’s such a great idea to be part of the US. I don’t, and won’t.

   I would resist Canada ever becoming part of the US with every last breath in my body. I came to Canada 44 years ago to be part of a new (for me), independent country, and no longer to be an American. South of the 49th is a great place for America and Americans. They’re welcome to it, and I want them to stay there. And to keep their stupid laws and hamstrung/terminally dysfunctional form of government down there too. Let’s keep the international border where it is.

4. I stopped reading Diane Francis a couple of years ago. She is not to be taken seriously.

5. People can just move to safe places like Manhattan! She’s good for a laugh!

6. I can’t believe she would even suggest a negotiated surrender, when with no formal declaration of war.

7. In an email thread, I saw this great comment, and since I am not original enough to come up with anything, I thought I would share it. Just a little by the numbers analysis of the nonsense…

   Here, of course, is what she misses:

   1. Canada’s economy is $1.8 trillion which is 11.25% that of the USA at $16 trillion. With 35 million people, that also make Canada also 11.1% of the USA.

   2.. At $492,592 per Canadian, the purchase price for Canada would be $17.24 trillion, or 107.75% of the US’ GDP. Ironically, that is the current level of the US national debt.

   3. So we would double the size of the USA in territory while only getting 11% more people now responsible for paying down double the debt.

   On the other hand, Mexico’s economy is $1.3 trillion, would add 2/3rds more to the USA, almost all of its territory is useful (compared to Canada where maybe 20% is), and we get 72 million people in the workforce, and it would cost 1/3 what Francis is suggesting. AND, it would open up all of Latin America. Were we to do that, Canada would then have to beg us to take them for a song!

   Now let’s look at this historically. We paid Napoleon 3 cents per acre in 1803 for the Louisiana Purchase, or $15 million. We paid Russia 2 cents per acre in 1867 for Alaska, or $7 million. To put that into terms of current money, if we bought Canada along the terms of the Louisiana Purchase it would cost only $1.5 trillion which ironically is about 10% of the current US GDP, and slightly less than Canada’s comparison to the USA. If we used the terms of our purchase of Alaska – a more apt comparison of the land mass involved, it would still be a bargain at only $800 million.

   Finally, let’s view the issue as Wall Street typically does. Mergers are typically a multiple of EPS (but this doesn’t apply) or revenues (more apt in this case). The rule of thumb is 1.5-2.5x sales. That would make the purchase price of Canada between $2.7-4.5 trillion as a “fair price”. The $4.5 trillion would then yield $118,000 per Canadian on the deal.

   Now here is the rub: This means that ALL of the 1 million US citizens and the duals in Canada will have to fill out FBARs and FATCA statements, and have all of their bank accounts reported to the IRS as well as their savings plans for the USA to tax – EXCEPT, since Canada would then become part of the USA so this would no longer be required, hence solving the dispute over FATCA in its entirety..

   I’m assuming she didn’t do these calculations, though, to get to her opinion….

8. About 25 years ago Diane Francis wrote a column touting a group of stocks for investment. One was Coca-Cola Canada. I foolishly bought a few shares not realizing that all the profits were siphoned off to Atlanta.

   None of her other suggestions were any good.
   Haven’t paid any attention to her since. Can’t understand how she keeps her job.

9. She’s a tool and this “book” is just a way to grab a bit more 15 minutes b/c it’s one of those topics that is heated to the point of pointlessness.

10. I have always been an advocate for building a very high wall at the border. I’d like to see Francis on the other side of it. 😀

11. It may not be long before the debt ridden US could be bought at a fire sale by Canada. Then they could all become Canadians and the world would like them.

12. I was looking for the ‘satire’ label on the idea and didn’t find it 🙂

    Seeing as the US seems to be on course to shut down anyway, might not be a good time to start negotiations on a merger. (I don’t live in either the US or Canada, and could not think of any reason on earth Canadians would be interested in such a thing anyway.)

    http://online.wsj.com/article/SB10001424052702304373104579105483307740074.html

13. I was wondering about the effect on consulates (hey, our CLN’s are the most important thing, right?) and found this at “What to expect when you’re expecting a shutdown”

    “Will I be able to get a passport?

    Travelers will still be able to apply for passports, since consular operations will “remain 100% operational as long as there are sufficient fees to support operations,” according to plans released Friday. Complications could arise if a passport agency is located in a government building closed by the shutdown, but the under secretary for management will treat those on a “case-by-case basis,” according to the plan.”

    http://blogs.wsj.com/washwire/2013/09/28/what-to-expect-when-youre-expecting-a-shutdown/

14. She’s on CBC Radio One, The Current, right now.

15. Good gawd, this is preposterous! Made my first laugh of the day. Is she filing her FUBARS? 🙂

16. Or we could just buy Alaska however that might mean getting Sarah Palin into the Canadian political system. But then we could see Russia from Canada! Seriously who would ever want to connect with a country with so many wing nut politicians and such a dysfunctional political system. It is truly unfortunate because at the personal level most Americans are good people and they deserve better. Canada is not perfect, but it is so much better and would not benefit through unity with the USA.

17. @the Mom
    I listened to it and others should too. Just Google CBC, the Current, Diane Francis to listen to the podcast. Francis describes her book as a “thought experiment”. Decide for yourself whether you think it’s nothing more than a brain fart.

18. bubblebustin,

    Listened. Agree.

19. http://www.huffingtonpost.ca/2013/09/30/north-american-union-diane-francis-us-canada-merger_n_4016913.html

    Huffington Post — so far their poll says:

    Should Canada and the U.S. merge?

    Yes 27.92%

    No 60.41%

    It’s inevitable, so why fight it? 11.68%

    Now if only we could effectively introduce the concept of FATCA in Canada to these same people.

20. Diane Francis. Born in Chicago, Illinois. <– That tells me all I need to know. She's got her head so far up Obama's ass that she can't figure out where Obama's farts end and her thoughts begin.

21. This is precious. She said that the entire population of Canada would vote Democratic. She missed her calling in stand-up comedy.

22. No need for Brockers to comment at PuffPoo (can you tell I don’t like that site?). Save your ammo for bigger, better game. I just read most of the comments and others are dealing quite nicely with Ms. Francey-pant’s “thought experiment”. I so want to send that woman back to her root-cellar in Chicago. The funniest comment I saw quoted Robin Williams (The Daily Show).

    “Canada–it’s like a sweet little apartment above a crystal meth lab.” — Robin Williams

23. Em, for that, we need to make Robin Williams an Honorary Canadian. 🙂

24. @USCitizenAbroad

    To answer your question, yes DF is on the right track to be run out on a rail.

25. If anything these two movies should scare you. This is what would happen if DF’s vision comes to pass. I, for one, think that the best way to save Canada would be to remove as much of our financial interaction with the United States and let it sink.

    http://www.youtube.com/watch?v=UbACCGf6q-c – “Oh Canada Movie – Our Bought and Sold-out Land”
    http://www.youtube.com/watch?v=pQsyCLXYsd8 – “United We Fall”