Bubblebustin found and JC suggested the the following be a post:
Author, Peter Morici, starts out by blending US corporate and US personal of overreach of the US into other countries business and people:
President Obama, as promised, is changing America. High taxes and abusive enforcement are compelling businesses and ordinary citizens to leave the country altogether.
The United States has much higher corporate tax rates than other industrialized countries do, and increasingly, the IRS uses more aggressive enforcement tactics than foreign tax authorities use.
@Calgary411 Told your story on that one and also: Do I have it right?
http://www.wallstreetandtech.com/compliance/fatca-a-us-regulation-thats-having-a-global-impact/a/d-id/1297808?piddl_msgid=242836&piddl_msgposted=yes#msg_242836
@ brockers-thank you for this wonderful linked article which I found very very useful to explain to family members and friends just why I have had to do what I’ve done-renounce, and linking the whole corporate “inversion” debate that is getting all the headlines, with the plight of USPs abroad.
If the comment section represents a cross-section of Americans, there’s no hope.
I believe the KGB would be envious of how the IRS has managed to ‘persuade’ the world’s financial systems to hand over so much information – voluntarily.
Thanks for using that example, JC. And, yes, without going into all the specific detail, you explained a situation that happens to vulnerable people. (That would include also include anyone with some ‘mental incapacity’ like age-related dementia, a brain injury from an accident or from a stroke, etc.) And, parents, guardians or trustees do not have the right (says the Department of State) to renounce on such a person’s behalf, even with a court order.