Media and Blog Articles Open for Comments – Part 4 of 11 (Year 2017)
You can access all years at this link: Media and Blog Articles – Links for All Years
If clicking on a comment link brings you to the wrong comment, click here to get on the most recent page of comments.(alternatively, to reach the most recent comment page, go to the url in the bar at the top of your browser and delete everything after http://isaacbrocksociety.ca/media-and-blog-articles-open-for-comments-part-4-of-4)
Media and Blog Articles
EmBee suggested that it would be good if there was a thread for new articles, so that people would be aware of where to comment. So, I created this permanent page. I’ll make a permanent list of links posted here and keep adding to it, but not deleting, so we’ll end up having sort of a “bibliography” of FATCA/CBT articles. [Note: Some articles are not open for comments]
For more articles on FATCA, enter FATCA into Google then click on the link “more news for fatca” just below the most recent featured article.
Notes:
From JC: To see #FATCA on Twitter for latest breaking news. JC finds that is quite a good source and there even are some international articles that one may read using Google Translate. Others may help certain tweets and articles remain in elevated position by retweeting them.
From Badger: On an important archival note, please use the Internet Archive Wayback machine https://archive.org/web/ (see bottom right ‘Save Page Now’ box to enter URLs of webpages you want saved for posterity, and try to save backup copies of articles and other items of interest in some other form – such as a datastick or external drive. Some important and very significant webpages and the fulltexts of articles are no longer available (although some can be retrieved if someone using the Wayback machine saved them).
Be sure to read the comment stream for this thread — there are usually very recent articles mentioned there that aren’t on this list yet.
2017.12.28
It’s time to address the double standard about tax havens, Angela Wrights, Macleans, Canada.
The US Is Becoming the World’s New Tax Haven, The Editors, Bloomberg View, US.
2017.12.21
Rep. Dina Titus Supports Americans Abroad Tax Reform, Democrats Abroad, US.
Now That The GOP Tax Bill Is Approved, The IRS Gets Busy, Brian Naylor, NPR, US.
2017.12.20
Taxpayers will have to wait to find out how they fare under new legislation , Renae Merle and Aaron Gregg, Denver Post (reprint from Washington Post), US.
U.S. Shareholders –Take Action by December 31, KPMG.
2017.12.18
Have You Ever Felt Sorry for the I.R.S? Now Might Be the Time, Patricia Cohen, New York Times, US.
2017.12.12
EU finance ministers issue warning to Trump over tax reforms, RTÉ, Ireland.
2017.12.11
Banque: les consequences étonnantes de l’accord FATCA, Edouard Lederer, Les Echos, France.
2017.12.10
As Australia ousts MPs with dual citizenship, Canada’s Parliament embraces many in its ranks, Kathleen Harris, Canada. (mentions MP who “assumed his U.S. citizenship was automatically rescinded because he did not meet several requirements for continued citizenship. [But when travelling to Washington] was told he was ineligible to enter the U.S. on a Canadian passport because he was a U.S. citizen. He was . . . allowed in on a one-time basis . . . it cost him $3,000 to later sort out the administrative requirements.”)
2017.12.09
The American Diaspora: Outreach and Organization, Victoria Ferauge, The Franco-American Flophouse, Japan.
2017.12.08
Foreign-owned banks to be hit by US tax rules, Financial Times, UK.
Trump Tax Plan Worries Europe, Christian Reiermann, Der Spiegel, Germany.
For articles earlier in 2017, click here.
Follow.
Rebecca: ironically the article seems to say that Obama was too much of a Republican, and that Democrats are too Republican-lite. It’s true. What’s also true is that they are reviled here because of an arguably left-wing decision: FATCA.
Unfortunately, and I hope I’m wrong, the joyful shafting and scapegoating of US citizens abroad and the enthusiastic enforcement of CBT seem to be the rare bipartisan issue. We shall see.
I was wandering through the web looking for some specific information about something else and hit on something that really pissed me off and reminded me why I now have the US and all homelanders. Thought I’d share (yes, I know it is not constructive. Just needed to let off steam with people who know how I feel).
What I found was an article from June 2016 on a site called taxjustice .org that list the five worst tax changes that the Republicans want to implement. No. is repeal FATCA! The nerve:
4. Repeal FATCA
The GOP platform takes aims at the Foreign Account Tax Compliance Act (FATCA) anti-tax evasion 2010 legislation by specifically calling for its repeal. The key provision of the law is a requirement that foreign banks and foreign branches of U.S. banks share information on the accounts of U.S. citizens and residents with the IRS or face a harsh withholding tax. Access to this information will allow the IRS to track down those individuals who have been evading U.S. taxes by holding their assets in undeclared offshore accounts. The Joint Committee on Taxation (JCT) estimated that FATCA will help the IRS claw back $8.7 billion that would otherwise have been lost to tax evasion over the next decade.
In other words, the GOP platform is effectively advocating for tax evaders who would benefit to the tune of billions of dollars if the legislation is repealed.
http://www.taxjusticeblog.org/archive/2016/07/the_five_worst_tax_policy_prop.php#.WHfwW6go-f2
From there I found another archive from 2013 with this juicy quote:
Asking the few and largely wealthy Americans with substantial offshore financial assets to do a little extra paperwork is not unreasonable when we know that cracking down on offshore tax evaders will bring in revenues to invest in things like roads, schools, healthcare and a quality of life that make the US so attractive to aspiring U.S. citizens.
http://www.ctj.org/taxjusticedigest/archive/2013/08/surge_in_tax-wary_us_expats_re.php#.WHfxX6go-f0
Now that’s tax justice Homelander style. Never going back, no matter what happens in the next 100 days or so.
8 Indian mutual fund houses that allow USA/Canada-based NRIs to invest
http://economictimes.indiatimes.com/mf/analysis/8-indian-mutual-fund-houses-that-allow-usa/canada-based-nris-to-invest/articleshow/56471762.cms
Interesting that they include Canada – makes it look like Canada requires FATCA reporting too!
I am looking at the 2016 form 8938 and now I have to provide the GIIN for each account. A new piece of crap to lookup.
@Fred, yes US Politics has been turned on its head. The Democrats have become the lets make war party and the Republicans have become the party of peace (albeit McCain and Grahem). Thats just one item….
@Unforgiven Too, I can not go back other than a tourist as I relinquished which is extremely well documented. But of I could……..I am so done……..abused by Bush and ran over by Obama. But I will work and fight over the next 100 days because there are too many hurting people.
@Neill, “A new piece of crap to lookup.”
Is it a $10,000 fine if you do not include it….LOL LOL LOL
-Gallows Humour.
@George,
$10k Per character / year
Get the fee structure right.
It appear to have taken me half an hour to input the balances for 7 pensions and 1 bank account into form 8938. Looking up these GIIN is what takes time.
@George (TOR)
I relinquished, too. I meant by not going back, that not only would I never accept any undoing of my relinquishment in exchange for any amensty as was discussed here for a while, but that I will NEVER set foot on US soil again, ever, period. Even if ALL, this goes away (including Reed, etc.) and we get amensty for past failures. The US is a dead, white space on the map for me.
I have have been following every comment, every day for a while now and agree with about 95% of what you post. I think CBT needs to go and hope it will (within the 100 days). I would love to do more to help, but unfortunately, I have no talent for this whole tax thing, so I mostly keep my keyboard (mouth) shut and let those of you who can contribute constructively do your thing.
To all those: keep up the good work, and thank you from all of us passive, quiet ones.
@Neill, the 8938 instructions say the GIIN is “optional”. (For now; doubtless it will become required at some point.)
@UnforgivenToo, it’s heartening to hear from the quieter or mostly silent readers at intervals – a reminder to everyone that we’re not alone here – keeping good company down this long road.
@ UnforgivenToo
I ditto badger’s comment. Everytime I see a new name or the return of an old name here It makes me happy to think we’re more than what it sometimes appears. Remember roll call from the old school days? (Maybe they just read an RFID tag at the door now.) I’ve often wished that at least once we could do that at Brock.
Unforgiven Too: “The US is a dead, white space on the map for me.” Sadly, this is how I’ve been feeling for some time as well. Thank you for stating it so accurately and succinctly. The last time I set foot on the soil of my native land was nearly six years ago. Living just an hour and a half’s drive from the border it was a place I used to visit frequently as many of my Canadian-only friends continue to do. As an “American” it’s too dangerous for me to go; how crazy is that?!
I’m hoping, with every cell in my being, that the next few months will allow me and all of us here to, start filling in the old map again and returning to the lives we once knew.
But, realistically, while indeed the US under the new administration may change the laws in our favour, it is unlikely that any of us will ever be able to completely reconstruct our former selves. We have learned too much. The map may be coloured in once more but it will be a different hue. Certainly not “rose-coloured” any more.
@Muzzled et al…….. I believe Trump and the GOP will correct sins against us BUT once you have been run over the pain and scars are too deep.
I have gone back on an EU Passport w/ESTA and no-CLN to visit the last bits of family. Going back was partly therapy but with the clear mindset if I was turned back at the pre-clearance it would be fine and their loss not mine.
The way WE have been treated says something far deeper and I want nothing any more to do with it. Maybe its like an ex after the divorce saying can we still be friends and the answer is NO.
@Unforgivin…..”agree with about 95%”
Hah….if someone agrees with me 30% I call them brother or sister.
@MuzzledNoMore
I like how you put it: “We have learned too much.”
I left as a teenager in the Army and all these years I saw things through pink glasses. This whole FATCA thing forced me to really see the US (and my childhood) in a new light:
Inequality, poverty, violence, hypocrisy without end, ignorance, bigotry.
The list goes on and on: imperialism, facisism, the raping of nature.
There will never be real freedom for the Americans in and outside the US without a bloody revolution. As this will probably not happen within my lifetime or of that of my son (or my grandkids, should he get around to making some), I will settle for freedom from the CBT regime for him. I, myself, will never return to that evil place.
@Watcher,
Damn. I missed that optional bit at the end.
@Neill
If it were me I would now Tipp-Ex out or otherwise expunge the GIINs before filing! No reason to give them any more than the minimum required.
@Watcher,
The forms are in tax s/w. Easy to delete the data. I have the values in my spreadsheet should I need them later.
Some of us pop in from time to time, to see what’s up. After being here daily for years, it takes its toll.
The US will forever be flyover country for me, regardless of what they may do in the future. It’s been that way for me for 4 years, and will remain that way, despite the fact that I can see them from my block.
Their loss.
UnforgivenToo: Indeed! One of the things that’s been brought home to me through these past several years, as well as through my general interest in history, is that American freedom has always – from the very beginning – been achieved on the backs of people who were not considered worthy of it. In the 17th century, along with the aboriginals it was religious groups who didn’t tow the “mainstream” Puritan line. Later on the slaves, hauled to American shores against their will were added to the list along with their descendants who have continued to clamour for equal treatment from “blind” lady Justice. Women weren’t even considered “persons” and didn’t get the vote until 1920. In the 1950s there was a communist under every bed and since 9-11 it’s dangerous to be a Muslim. Now, Americans who don’t live in America anymore are paying the price for other people’s freedom. The sorry tale just goes on and on.
As she stands, America is nothing but an undelivered promise of freedom. It’s time for her to realize and admit her historical and ongoing failure to deliver actual, experiential “freedom” to all Americans. Her laws and the attitudes of her people must undergo a sea change. I hope I live to see it.
“As she stands, America is nothing but an undelivered promise of freedom. It’s time for her to realize and admit her historical and ongoing failure to deliver actual, experiential “freedom” to all Americans. Her laws and the attitudes of her people must undergo a sea change. I hope I live to see it.”
I doubt that she will change. And I doubt that “I” will live to see it happen. The mindset of Americanism is much like that of a cult and like a cult-brainwashing, it will take that much effort to reset the mindset of its people. I don’t foresee any of that happening nor it being worth the effort to homelanders to really see what it is like on the outside of America. For them the cult-leaders have told them that it is too scary; that the cult-leaders know what’s best for them and if they know what is good for them that they will fall in line like good little obeisant cultists.
@The_Animal1970
Cult puts it just right. I grew up in a ultra-conservative religious environment, itself not far from a cult, attracted ex-members from some very extreme cults, so I had a lot of contact with people who went through the process of reconnecting with reality and went to school with several others who grew up in these kinds of disconnected situations. Through my social contact with them I, in a way, know what they felt and went through. Even though I had started the process of doubting my washed brain about the US about the time Jr. started sending young men to die in Iraq, it didn’t really hit me how bad it was until my OMG moment. From then until I got my CLN, I told my wife many times that I felt EXACTLY like what those people said they felt. My eyes are open and I am no longer a sheep.
@MuzzeledNoMore, re; “….America is nothing but an undelivered promise of freedom. It’s time for her to realize and admit her historical and ongoing failure to deliver actual, experiential “freedom” to all Americans. ……”
That reminded me of this classic by Howard Zinn ‘A People’s History of the United States’ (newest edition – Nov 17 2015 ) https://zinnedproject.org/materials/a-peoples-history-of-the-united-states/ and work by Noam Chomsky http://www.alternet.org/authors/noam-chomsky among others.
The US can’t and won’t correct for problems it won’t and doesn’t admit it has.