Cross posted from RenounceUScitizenship
By kicking the banks @sencarllevin triggers new world financial system – Goodbye U.S. – Hello Shanghai – #FATCA #FBAR isaacbrocksociety.com/2012/04/20/sen…
— U.S. Citizen Abroad (@USCitizenAbroad) April 20, 2012
Ever since the FATCA discussion started, I have always wondered:
Why would the rest of the world comply with FATCA? I read about compliance costs. I read about trying to cut deals with the IRS. What I don’t understand is why countries don’t take a much longer term view of this. Remember:
People always overestimate what they can do in one year and underestimate what they can do in ten years.
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