Media and Blog Articles – Part 1 of 11 (to 26 May 2015)
You can access all years at this link:
http://isaacbrocksociety.ca/media-and-blog-articles-links-for-all-years/
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. You could mention such articles in the comment stream for this page, or if I see one on another thread, I can copy the link to here. I’ll keep adding to the list, but not deleting, so we’ll end up having sort of a “bibliography” too. [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.
Note also: JC suggests 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.
2015.05.26
New Survey finds US expat voting could impact 2016 Presidential Election, Greenback Expat Tax Services, NASDAQ GlobeNewswire.
This congressional committee wants to hear all your FOIA gripes, Colby Itkowitz, Washington Post, US.
The black money recovery skills of IT department are nothing to write home about, Vivek Kaul, The Daily Reckoning.
2015.05.25
The Intersection of US Federal Tax Law with Collection of International Information- – Including Other Federal Agencies, Patrick W. Martin, TaxExpatriaation, US.
2015.05.23
America the not so brave: America has led the global assault on tax dodgers and their enablers. But the reality still lags behind the rhetoric, The Economist, UK.
Cash Banned from Chase Safe Deposit Boxes, Matt Chilliak, Live and Invest News.
2015.05.22
US Steuergesetz hat unerwartete globale Konsequenzen, Colleen Graffy, Geopolitical Information Service. Also at Consequences of US widening net to catch tax dodgers, Colleen Graffy, World Review.
The horse may have bolted … but, Angelo Venardos, Asia Asset Management.
Important Correction: Passports Required to Enter and Leave US — but SSNs May be Optional, Patrick W. Martin, Tax Expatriation, US.
2015.05.21
Americans working abroad face unexpected financial issues, Sarah O’Brien, NBC, US.
Senate tax reform groups get more time, Bernie Becker, The Hill, US.
2015.05.20
Malaysia will defer FATCA reporting, FSI Tax Posts.
America’s Self-Inflicted Wound, Moises Naim, The Atlantic, US.
Janice Mays: The Tax Guru Who Guides House Democrats, Alex Brown, National Journal, US.
Sen. Rand Paul Launches Filibuster in Protest of Patriot Act Renewal, C-SPAN, US.
@charl
Posting is open. Mine is under Mary Henry.
I like where you’re going with the points, but perhaps phrased as questions would help. (Waiting for a Jeopardy joke.)
No offence to those working on this but imo Bill Maher is a loudmouth idiot. If he latches onto this topic and takes the typical homelander stance (door…butt…on your way out) then
more damage than good will come of it…he’s about ratings remember and this could be red meat for his type. This could be terrible for the cause. Too risky.
I watch Bill Maher on a regular basis, and have been tempted to never watch him again, but then I’m a glutton for punishment. He donated $1M to Obama’s last campaign but that said, he is starting to show signs of having a libertarian bent, in that he often agrees with Rand Paul. It’s a gamble, but I say go for it!
@ Lake Superior Guy @ Bubblebustin
Points taken. I believe that ignorance of FATCA and what it’s really doing is one of our biggest problems. “It’s going after tax cheats with offshore accounts.” “It’s got to do with Americans and I’m Canadian, so it doesn’t concern me.”…
At this point, I’ll take any chance to have it discussed.
@ Bubblebustin
If Bill’s leaning libertarian, a question about the recent fee hike to renunciate should be right up his alley. $2,350 to expatriate? Someone should really ask about that.
@Kathy
I also have mixed feelings about Maher. Like Bubble, I’m seeing his Libertarian leanings these days and his disappointment with Obama. I think we have an opportunity here to put some heat on Warren that shouldn’t be missed. I REALLY want to know if the Dems will even acknowledged the DA’s study. I think I will go with my Berlin Wall one as that might have most impact with the homelanders. Right Kath…I’m hearin’ the J-muzack! I’m just having trouble keeping the question short!
@charl @All
I like the first one you have listed best as well, but I would end it in a question:
Because of FATCA/Citizen Based Taxation, a financial Berlin Wall has been created around America. Average US persons cannot survive outside of the US borders. Banks abroad are closing their accounts, they are not being hired, cannot save for retirement, cannot invest and cannot have a business. Now that even Democrats Abroad has reported on the ill effects of FATCA, will the US finally repeal this law?
Here are some suggestions for more questions if others are interested:
The Expatriation Act of 1868 states that “the right of expatriation is a natural and inherent right of all people.” Why has the US recently raised the fee for renunciations to $2,350 hindering this right for many instead of making the renunciation process simpler?
Though FATCA has been sold as a way to catch rich US residents avoiding taxes through offshore accounts, in reality this law is forcing many average income Americans living outside the US to choose between their lives, homes and families abroad and their US citizenship. Why is the US pushing the group they used to consider as “good will ambassadors” into this position?
A new news article in Accounting Today
http://www.accountingtoday.com/news/irs-watch/irs-falls-short-on-international-tax-collections-72147-1.html
I agree, Lake Superior Guy, it could be a gamble. My risk tolerance, too, is low. It could go either way. I would not want to further perception of “US Persons Abroad” as traitors to the homeland, not paying their ‘fair share’ without their “full education” of this very complex issue.
Do we know where Elizabeth Warren stands on the subject of inversions? Does she agree with whitehouse.gov: http://www.whitehouse.gov/share/the-facts-on-inversions? What has Bill Maher had to opine about inversions? — that might be a clue of how this might go. I don’t want to risk being the butt of a prime-time comedian’s joke (even though comedians often can educate better than mainstream media).
Again, this is only part of “Overtime” and is not part of the regular show. It’s only broadcast on the show’s blog and on YouTube.
The concern about furthering the perception of us as tax cheats and traitors could also be addressed as a question.
And even if the discussion went down that road, just think of how Democrats Abroad are going to react if they hear Warren call them tax cheats or traitors or not defend them if someone else on the panel calls them that. They’ve been blindly followinng and supporting their party. If one of major players paints them as rich fatcats, there may be hell to pay.
Possible question for someone to post?
Why are homelanders and politicians constantly painting Americans living outside the US as either rich, fat cat tax evaders or as traitors? The fact is that most Americans aboard live very average lives and are struggling to deal with the bad effects of FATCA and the requirements to file taxes to the country where they live and work as well as to the US from whom they receive no services and no representation in the government.
Good point, Kathy, for those who wish to pursue. Thanks.
http://blogs.wsj.com/totalreturn/2014/10/01/irs-faulted-on-tax-collection-from-expats/?mod=WSJ_hps_sections_yourmoney
IRS “failing” on collecting taxes from ex-pats– worth posting some comments to.
Some persons will simply stay in Canada like the Viet Nam Draft resisters until when/if there is an amnesty. Some persons moved to Canada and became citizens and USA is holding decades of Social Security money, and I do know that if there’s a felony warrant on you, then the Social Security cheques stop. If these persons have nothing to lose, they might as well publish their situation to USA voters through the internet.
@Calgary
Michael Steele will also be on the panel with Warren. He is DEFINITELY on our side. I think we have no worries.
I wrote to Warren early this year about the whole CBT/FATCA problem, outlining the problems of accidental citizens, taxation without representation, the mutual funds trap (particularly problematic in the UK) , punitive taxation of ‘foreign trusts’ that are nothing more than foreign government social policy. I mentioned Carol Tanapila’s son’s story particularly. It was a very general FYI letter telling her that this was a general issue that the Democrats needed to pay attention to because the policy was having really bad effects that could really come back to bite them. I wasn’t expecting a response. I would hope that CBT would be on her radar.
I don’t know Senator Warren personally, but she did a small act of kindness for someone I knew who was going through a real rough patch, so my sense is that she is genuinely a decent human being. She may also be more skeptical of the Treasury Department than most senators would be. The Treasury Department has very close ties with Wall Street and Warren is no fan of Wall Street. She did recently say that with politics if you’re not at the table your on the menu, which is so true of CBT It is odd how Americans in the U.S. can believe that the tax code is skewed in favor of the rich domestically, but somehow it magically transforms into something unquestionably wise when applied abroad.
So far in my research I haven’t found a ‘smoking gun’ linking the policies to Wall Street, but I haven’t properly researched the 1980s yet.
@Kathy
I suspect that the view of Americans abroad is a holdover from the time when the policy was introduced.
@Kathy, “Why are homelanders and politicians constantly painting Americans living outside the US as either rich, fat cat tax evaders or as traitors?”
There is deep down psychology to this and it goes back to the idea of “American Exceptionalism”, I would suggest you google it and Wikipedia has a good write up.
Both the American left and right buy into this. I did not think Senator O bought into it but the President does!!
Let me give some statements that supermajority of homelanders believe in;
1.) The USA is the best place in the world to live, we know this to be true because the number of persons willing to risk all and illegally enter the USA. The illegal migrants at the border support our view.
2.) Americas place in the World is god given, we have a responsibility to the World to do what is right because no one else is able or willing. We learned this to be the case in BOTH world wars when it was America that saved the world. We are the city upon the hill.
3.) Why would anyone want to live anywhere else when we have all the “fruit” the world has to offer right here. We have the finest health care system in the world, the finest education system in the world, the highest standard of living in the world and climates among the various states that would satisfy anyone.
The State Department believes in this as well as stated in the FAM manual which states “A US Passport is the most valuable travel document in the world because it identifies the bearer as a US Citizen.”
When I left the USA, family, friends, everyone were in shock as to why I would leave “eden.” But they took solace but saying amongst themselves we would be back soon.
When I explained how effective our “socialist health care” was working to include prompt dental care at little cost they were dumbfounded and just about called me a liar.
When I wrote letters at Christmas of elderly friends here who received dialysis and cancer surgeries I was told that was impossible because the “Death Panels” they had heard about on radio did not allow that.
They figured we would be back because its so expensive after all many of them had been to the capital on vacation and it was so expensive there. When I explained that living outside the capital was actually very reasonable and on average no more expensive than living similar situated in the United States, my Christmas card list dropped.
My homeland friends were dropping in numbers but the hanger ons then “advised me” and encouraged me to vote in the “next election” because things were getting bad at home. Then I had to explain to them that I had relinquished and had proactively purged my name from the voter registration list.
My homeland friend list has dropped which is sad.
We have to face the fact that when we “left” the homeland it was no different that walking away from a fraternity/soriarity, a club or a Church.
Walking away is challenging all the preconceived notions that homelanders have. We are in effect saying that their state of mind is faulty and that life outside the homeland is definitely not worse!
Life outside the borders of the USofA in their mind is a step down. They accept that as a gospel fact. So the only alternative in their mind is that we are tax dodgers or traitors.
On more than one occassion I have been called directly to my face as a traitor.
So first you have the act of leaving which is an apostasy in its own right but then you have the gaul the absolute gaul to say that you have no desire to ever come back to the homeland and you are willing to renounce/relinquish!!
A homelander “friend” told me they would rather have 10,000 wet backs from Mexico than a traitor like me. No longer on the Christams card list..
Compare US expats to Canadian expats? Are expat Canadians viewed with suspicion by those remaining behind in Ontario?
Homelanders view the world through the lense of illegal migrants in central america.
Canadians, Germans, Sweeds, Danes, Irish view most “industrialized world” passports as all being equal and in line with the USofA. A homelander views his as the BEST, numeron uno!!
@ George
Wow. Thanks for all that. However, I did post that question as a suggested question for “Overtime”, not for here.
As I’ve never identified as an American (left at 2 yrs), I don’t feel the same insult as many abroad do who do consider themselves American still. Actually, I don’t feel insulted at all. But I do have a difficult time understand homelander’s point of view. I don’t think I’ve ever come across a European who thought a countryman was a traitor because they moved to the States or Canada.
Do American’s feel that same sense of being betrayed if person moves from one state to another?
What you describe is more like what I hear from people who were once part of the Communist regime. They are surprised to find out that life in the West isn’t anything like what they were told or imagined.
@Kathy
No, they don’t feel that a person is a traitor for moving from one state to another, even if they move from a high tax state to a low tax state. There are very entrenched ideas about loyalty to the nation over loyalty to the state going back to the Civil War. The idea of national unity was reinforced in the run up to the World War I, when the U.S. faced mass emigration (this was when the pledge of allegiance came along. The pledge of allegiance gives Britons the creeps because it seems out of place in a western country). George’s idea of apostasy is very accurate: sometimes the core beliefs of American culture are called the American Creed.
I have written a conference paper on the early politics of CBT and will post on SSRN once I get the referencing sorted.
@Kathy, there is one other thing at least from an EU perspective, maybe applies elsewhere too.
There are American expats who solely have US Citizenship and even though they have lived abroad for decades have never acquired the local citizenship.
I know Americans in Dublin who have lived there twenty plus years who will not become Irish even though there is no legal problem with retention if that is what they want to do.
Some of those view ex-ex US pats with suspicion!! Well that was pre FATCA, they know look in the mirror and are scrambling to sort out a new passport.
@Publius & George
Thanks for all that. It’s a good thing I relinquished my accidental US citizenship as I think I would have made a lousy American.
One thing that’s been bothering me since the Democrats Abroad report – why would an American abroad, if they’re not planning to return to the US, ever vote Democrat until that Party severely reforms or repeals FATCA? Even if you lean far to the left, I just don’t get it.
Other than climate change and FATCA and citizenship laws, whatever stand a party takes on an issue, it won’t really affect you directly.
@Kathy, “As I’ve never identified as an American.”
I too do not identify myself as American anymore and I actually resent being called American.
A couple Brockers know my story off board. I was literally a product of “the plantation” and walked out of the front door of the plantation house. Part of it was sudden clarity of mind, part was to start a new life with my family. The “masters” back on the “plantation” were extremely resentful in my departure and relinquishment.
There were lots of persons asking “How could you do this?” I expect future individuals in my circumstance will face a tougher road beyond the formal humiliation.
Thanks for elaborating on American Exceptionalism and what it breeds in the minds of *most* of the homelanders, George. The paring down of our Christmas card lists tells it all. (And, have you ever attended a high school renunion?!!?)
I am forever grateful for my move to Canada — for me, for my family. It was the BEST move I ever made. And, you’re right on (thanks for pointing out) when you ask if any of us would so condemn persons in the countries we now live in for moving to the US or any other country for work, for love, for adventure, for good. I’ve never seen that!
Publius,
Thanks for letting us know of your correspondence with Elizabeth Warren. I, too, get the impression that she is a decent human being. I appreciate your using the example of my family’s situation as an example and I hope anyone else will feel free to do so.
To complicate the mater, as I commented yesterday:
Please everyone, give what you can to make the Canadian litigation a reality: http://www.adcs-adsc.ca/.
For those of you who like descriptive prose there’s this article at SOTT (one writer hails from Edmonton, AB):
http://www.sott.net/article/286662-FATCA-what-How-to-fight-the-war-on-tax-evasion-one-American-at-a-time
It begins: