The Isaac Brock Society

Deckard writes of a major irony in the position (or non-position) of Democrats Abroad on FATCA and related issues:

I believe that one of the ironic consequences of our situation is that Democrats Abroad, and others analogous to it, such as Republicans Abroad, shall soon be facing unprecedented existential crises. If FATCA continues to unfold as its architects wish it to then there may be no more than this current generation left to even attend DA meetings and events. Instead, they may begin to resemble lonely Legion halls with a dwindling membership of WWII vets.

Once FATCA begins to be fully implemented, younger Democrats Abroad will be faced with a stark choice: either shed themselves of their now-toxic U.S. citizenship which their parents so lovingly transmitted to them, with all the best intentions – or face a bleak future of financial ruin in their adopted countries because of a crippling inability to participate in the essential tax-deferral vehicles they need to build a secure retirement. Of course, the third choice would be to abandon their overseas homes completely, where they were very likely born, and run headlong into the full embrace of the Homeland, leaving their friends and family behind forever.

I attended the Inaugural Ball celebration at the local chapter of Democrats Abroad last night and I saw very few people under the age of 50 in attendance. If that is the current, baseline demographic for this organization then I would have to conclude that its days may very well be numbered.

I was struck last night at the passion with which one of the organizers spoke of the chapter’s me-too support of new gun-control legislation in the U.S. I could not help but marvel at the irony of an overseas American organization choosing to focus on an almost entirely domestic American issue at the expense of issues that will be of far more immediate and personal consequence to their own lives in the coming years. No one spoke of FATCA, and the destructive scourge of citizenship-based taxation, even though this issue should remain at the very top of DA’s agenda for years to come.

I know that Joe Green is DA’s Canadian point-man for the FATCA/FBAR task force, but it seems that he is the only one in the organization who’s showing any real interest in the topic. Everyone else is blithely enjoying their little get-togethers and making themselves feel good about supporting a few easy motherhood issues from afar, all the while ignoring the ugly, dangerous reality that lies right before their very eyes, on this side of the border. If Democrats Abroad remains blind to where its energies most urgently need to be directed, and if it cannot muster enough confidence to forthrightly speak truth to power, then I believe it is truly doomed and will soon be a footnote to history.

Deckard originally wrote his above observations, in reply a comment to Michael on another thread, which read:

I am a member of Democrats Abroad.  I voted for Obama because I agree with him on more issues than I do with the Republicans.  At the same time I disagree with FATCA and citizenship-based taxation and enjoy the IBS website.  If IBS wants to be as effective as possible in reaching out on citizenship-based taxation — which, like government raids and government overreach, precedes Obama — I would urge you to be more politically inclusive.

Thanks to Michael for his comment as well as to Deckard for his lengthy reply to it. It’s an important matter worthy of focus and exchange of ideas and opinions.

Patricia brought to our attention on another thread that  the World Economic Forum is having its Annual Meeting at Davos and has several webcast of meetings

The programme for the five days is at this link.

Wednesday 23 Jan, beginning 0900 CET, focuses  on the Global Financial Context.

Many sessions are webcast  and archived, and people can participate by Twitter.