Other British commentators may not be so happy, but Boris Johnson heartily endorses Washington’s “extraordinary doctrine” (his words) of jurisdiction over actions undertaken in other countries which use the U.S. financial system:
While other countries turned a blind eye, the Americans have stepped in. The US has an extraordinary doctrine – that if you commit a crime by using an American banking network then you have committed a crime under American law and must answer to America; and if it brings the kleptocrats of Fifa to justice, then I am all for it.
Johnson also warns of evil anti-British and anti-American forces who aren’t so happy at the U.S.’ imperial triumphs with FIFA and FATCA:
And then there is a further geopolitical problem. You and I may rejoice at the notion of Britain and America triumphing in the final reel of the movie – James Bond and Felix Leiter coming together to winkle Blofeld from his lair. Not everyone sees it that way; not everyone likes the idea of an Anglo-American imperium.
This is a remarkable change of heart from seven months ago, when he was much angrier about U.S. extraterritoriality:
No is the answer. I think it’s absolutely outrageous. Why should I? I haven’t lived in the United States since I was five-years-old. I pay my taxes in full in the United Kingdom, where I live and work.
As you may remember, Johnson paid higher UK taxes during his entire period of homeownership in that country because of the UK’s lack of a mortgage interest deduction, and then — despite his early cries of resistance — gave in and paid US capital gains taxes on the sale of that same property because it went “untaxed” by the UK. This is just one example of how different countries’ incompatible tax breaks on housing result in double taxation for American emigrants and citizens of other countries who are deemed to be Americans. (And that’s not even getting into the issues with “foreign”-currency mortgages.)