The link to this excellent post at @BloombergBNA was first made on the Ask your FATCA Question thread by both @Badger and @Duke of Devon . It deserves a full airing as a separate post.
It is a scholarly discussion about all the things wrong with FATCA by Herman B. Bouma, Senior Tax Counsel at Buchanan Ingersoll & Rooney PC, and an international taxation expert. I do note that he lives in the Center of the Universe, close to the International Revenue Service in DC.
When something starts out like this, how can you not read it?
With all due respect, FATCA is sheer idiocy and must be repealed as soon as possible! There are 11 reasons why. 1. The Height of Arrogance.
If you like his article, you can thank him via email at: email@example.com
For those that like Executive summaries, Andrew Quinlan at the Center for Freedom and Prosperity provides a nice bulleted list of the 11 items called:
FATCA Must GO! And Here’s WHY…
He adds his own 3 items, and I am sure we can all add to this list too. I have my own Number 12: Security, Identity theft and Fraud Risks.
Finally, @Blaze over at Maple Sandbox, inspired by these 11 Reasons, created an excellent list of 12 reasons why Canada must REJECT the FATCA IGA Cram Down!