“Trump must show his mettle and reverse a fatally flawed, misguided law“
NEWS PROVIDED BY
Campaign to Repeal FATCA
Feb 07, 2017, 10:26 ET
WASHINGTON, Feb. 7, 2017 /PRNewswire-USNewswire/ — Nigel Green, founder and CEO of deVere Group, one of the world’s largest independent financial organizations, has launched a Washington, DC-based lobbying and media campaign to repeal the Foreign Account Tax Compliance Act, or FATCA.
With Obama in the White House doing away with FATCA was virtually impossible, despite repeal bills introduced by Sen. Rand Paul (R-KY) and Rep. Mark Meadows (R-NC). “FATCA is a textbook example of a bad law that doesn’t achieve its stated purpose but does manage to unleash a host of unanticipated destructive consequences,” states Sen. Paul.
As his co-leader of the Campaign to Repeal FATCA, Green has turned to former U.S. diplomat and longtime Senate leadership staffer Jim Jatras of the media and government relations firm Global Strategic Communications Group (GSCG). Jatras, a leading authority on FATCA, edits the online publication www.RepealFATCA.com, which is dedicated to getting rid of what he calls “the worst law most Americans have never heard of.“
On Green’s initiative, Jatras is assembling a team of experienced DC professionals to push the repeal effort over the top. “Nigel’s deciding to step up to the plate is just tremendous,” says Jatras. “Billions of dollars have been wasted worldwide complying with FATCA, billions of words have been written complaining about it. Now it’s time for action. When that tax bill gets to President Trump’s desk, we want FATCA repeal in it.”
For more information on FATCA and the Campaign to Repeal FATCA, contact GSCG, below.
Over a million of us wants the entire tax code repealed, over a million of us are the only ones who have studied the tax code enough to know that if it were any other law it would have been repealed eons ago as ”void for vagueness” which means that if the average citizen cannot understand it it should be repealed. This year the text of the law should reach about 82,000 pages. Imagine even the professionals who love this bill, having ever read it. They rely on a 2 thousand page booklet to tell them what it says and how to fill out forms for us ignorant citizens, with only a Masters Degree in English. (Not me, but my youngest brother who has the degree and tried to understand it, but gave up when he got to all the amendments the congressmen slipped in, for a hefty campaign contribution.) The million of us want a National sales tax that even the criminals will have to participate in taxation. It is called the FairTax. The most researched tax bill in history, and the most despised by all but a few patriotic congressmen. The contributions are timed to coincide with the two year elections, and if no contribution comes in that special interest looses his ”special deduction”. Congress acts like an ongoing criminal enterprise which a civilian would be sent to jail under RICO, but hey have conveniently exempted themselves from arrest for RICO.
The only actual way to stop the taxation of Americans working overseas is to have the FairTax. Unless you are within the U.S.A. you need not even think about taxes, because you don’t pay when you earn, you pay whenever you spend. The FairTax is not complicated and is not a VAT as characterized by our opponents, who actually know the difference but just hate it because it takes away some of their power to extort money, to help special interests not pay their taxes. It is structured to let the truly poor avoid all taxation. Yes the poor who thinks they are untaxed still pay The Social Security Tax. Used cars, used houses and any other used goods are untaxed, but the criminal element who are estimated to do a third of the underground economy, will pay when they buy the high end goods they are so accustom to having.
Our chances are slim at best to even get a hearing in Ways and Means, but delaying is all they can do, because sooner or later a Trump Like Character will understand and alert the public to the evils of the Marxist Income tax and the public will demand, at the ballot box, that even the dumbest politician will come to Jesus, rather than being dumped.
This is a great initiative by Nigel Green. A big hat tip to Nigel as well as James Jatras, who has tirelessly fought against FATCA. Both are big friends expats.
Every once in awhile we get a glimmer that gives us some hope — this is encouraging news.
Thanks, Jim Jatras for your part in having Nigel Green take action on this.
Jim Jatras says:
Yet coming from him care needs to be taken that it is not a FATCAT request. There should be specific emphasis on accidentals and the 99% ers.
Nigel Green has spoken out against FATCA for years.
I liked his video stating FATCA is Communism. Except now the video is missing.
FATCA is Communism video:
A thumbs up to Nigel.
I remember that video like it was yesterday I saw it.
FATCA is killing US export economy as nobody wants to have anything to do with what is american anymore.
Trump better move fast to repeal FATCA before it’s to late…
THANK YOU, THANK YOU, THANK YOU!!! to Nigel Green and Jim Jatras!!!!!! This is fabulous news!! Us little folk out here need you guys!! While you’re at it, please don’t let Congress stop at FATCA. We’ve got to get CBT ditched as well!!!
I am very serious about CBT being included in this request for repeal. Even if FATCA is repealed, anyone who is deemed an American citizen, whether they call themselves American or not, will still be under the yoke of CBT.
We may never again have such a marvelous chance to cut out the CBT cancer at its root. The time is ripe. Let’s do it!
I’m not sure one could assume this is “ours” as in, we have not contributed to it……….
Ahhhh! GOOD news!
And with this the anti-FATCA (and hopefully CBT) lobby was born.
Tricia: Anybody doing anything anywhere against FATCA/CBT is “ours”. It’s all working toward the same goal whoever “pays” for it.
Nigel and Jim: I hasten to add that the last thing I intended by my comments above is to be critical of your efforts. I will be deeply grateful for whatever you are able to move the government to do. THANK YOU!
@Steven Tracy inspired this one.
Not at all! We can use all the help and encouragement we can get.
@ Jim Jatras
I hope you found this comment on “The List” thread. It demonstrates perfectly, yet tragically, how FATCA, “the worst law”, is losing America its best and brightest.
BTW, your new revamped website is terrific. Everyone should stop by to appreciate past, present and future words of wisdom from you and Nigel. Good luck in the new campaign.
@Jim Jatras–I deeply appreciate all your work and your advocacy for all of us.
But why “repeal”? That is all a tall order. Seems all you need is to have an executive branch official declare all the IGAs are treaties. And the IRS will begin enforcing FATCA once the senate clears all the treaties (which will happen about the same mankind has colonized Mars). There, problem solved.
We’ll see. Not holding my breath.
That’s part of our “strategery” — full court press. Yes, if the IGAs are killed, FATCA is toast. That’s something that can be done by the Executive Branch. See http://thehill.com/blogs/pundits-blog/international/306446-dumping-obamas-faux-foreign-tax-legislation-should-be-high
We still need repeal though. Even if the IGAs are nullified but FATCA remains on the books it’s still a latent menace waiting for the next Democratic administration and Congress.
Dear Mr. Jatras;
You have been a faithful ally in this campaign for a long time, a campaign that really is not your concern not being an expat. Very few have shown any compassion to our plight.
I have said before on these boards that the name and shame renunciation list is not bringing shame to those that renounce rather it is bringing shame on the United States.
So far and through the second quarter 2017, I reckon that the list belongs to Obama but the list that is published for the quarter ending September 2017 will belong to President Trump.
The Republican Party has made a written promise to expats, there will be so many grateful persons if they simply keep their promise.
PS. There will be some naysayers on these and other boards but let me state for the record I do have the utmost confidence that the GOP shall fullfill their commitment. I am ever thankful with the GOP having made their promise to have seen the GOP retain Congress and gain the Presidency. Under Obama I became a Bad Will Ambassador but today I have become a Good Will Ambassador once again. This person is defending the Administration every day here in Europe because of the promise. (I also explain what Obama did to me and my family)
I am probably the last one to put faith in politicians per se. But I am hopeful on this. Just received word that Sen Rand Paul and Rep Mark Meadows will soon reintroduce their repeal bills in the new Congress, Senate and House respectively. The reintroductions are less likely to move as freestanding bills than as showpieces for stuffing them into a bigger tax reform bill. Trying hard to turn the wheels.
This is very embarrassing!
Somebody within the Trump cabinet certainly approved signing the recent FATCA IGA with Ukraine. Reince Preibus is all too aware of the RNC resolutions and campaign platform against FATCA and in support of RBT.
“Ukraine and the U.S. sign Intergovernmental Agreement to Implement FATCA”