Here is another Financial Times article. As with double taxation, if every country implemented a law like FATCA it would destroy the world economy by wreaking havoc on financial markets as everyone tries to repatriate their investments to their country of residence.
We cannot allow the US to do the unthinkable on the grounds of so-called “American Exceptionalism”.
Reblogged this on Stop Unconstitutional Double Taxation.
@Jefferson…
Thnks for drawing this out for attention… I have also posted this story here…
http://isaacbrocksociety.com/2012/03/27/a-global-fatca-in-the-future/#comment-11546
Dark Ages for sure… I sent a Tweet to Carl Levin in this regard, just couldn’t resist…
https://twitter.com/#!/FBAR_Compliant/status/186167007492845568