One of my favorite news discussion forums, is a PRI program out of KCRW in California. It is a one hour discussion run by moderator Warren Olney, who in my opinion, is arguable one of the best moderators on the radio today. If you like measured, non hyperbolic, low volume discussions from multiple partisan/non partisan perspectives on issues important to America, this is a good candidate for you. To the Point. Continue reading
Monthly Archives: June 2012
Phil Hodgen – “Why people expatriate” – A Comment on his post – What about those who cannot certify 5 years of tax compliance?
Cross posted from RenounceUScitizenship.
“Get out while the getting is semi-good. Don’t wait for more time. More time means more laws.”
– Phil Hodgen – “Why people expatriate”
Anybody who reads this blog is surely familiar with Phil Hodgen’s blog. Mr. Hodgen is California based tax lawyer who appears to have moved firmly into the practice of “Expatriation Law” – AKA helping people to renounce U.S. citizenship or get rid of that green card. Mr. Hodgen’s latest blog post about “Why people expatriate” is proof that good things can come from long flights. Speaking of “good things”: one commentator wrote that: Continue reading
Sweepstakes rules discriminate against expats
I received a regular email from Logos Bible Software offering a sweepstakes for a Doctor of Ministry scholarship worth several thousands of dollars. However, on the rule page it states:
Logos Sweepstakes (the “Sweepstakes”) is open only to legal residents of the fifty (50) United States and the District of Columbia over the age of 18 with access to the Internet at all times during the Sweepstakes and subsequent prize-award period unless otherwise specified by Logos.
It seems to me that if the United States expects it citizens abroad to pay their “fair share” of taxes, that there should be laws against discriminating against them in this manner. If they want our money, we should have rights.
I wonder if anyone else has seen rules like this in other sweepstakes or contests.
U.S. trade representative urges repeal of law requiring U.S. to impose sanctions on itself
According to an Associated Press report from Moscow, U.S. Trade Representative Ron Kirk stated in a speech to the American Chamber of Commerce in Russia that “it’s necessary for us to lift Jackson-Vanik”. There doesn’t seem to be any transcript or video of Kirk’s speech, but you can see the AmCham page about the event for more details.
Jackson-Vanik, also known as the Freedom of Emigration in East West Trade provision (19 USC § 2432), disallows normal trade relations with non-market economy countries which “impose more than a nominal tax on emigration or … on any citizen as a consequence of the desire of such citizen to emigrate”. Petros wrote about this provision back in January.
How To Lose Your American Passport
Here’s the story of a renunciation from 2002. What I found especially interesting was the Consul’s rather unprofessional response to the renunciant’s report of his experience. The Consul even scoffs at the renunciant’s claim that “The U.S. does not like people giving up their U.S. citizenship — for taxation purposes.”
How To Lose Your American Passport, by Arudou Debito
The accidental Kenyan: What would happen if the African nation copied U.S. tax policy? by Don Whiteley
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Posted in Featured, Issues regarding US persons abroad, reductio ad absurdum
20 Comments
Posted in Featured, Issues regarding US persons abroad, reductio ad absurdum
20 Comments
About seven million American expatriates — nearly a million in Canada — are going through tax hell because of a sudden Congressional interest in catching tax cheats, and America’s unique citizenship-based income tax policy.
American Citizens Abroad (ACA) has called on the United States to end this citizenship-based income tax policy and tax based on residence like the rest of the world. It points out that Americans living and working in other countries pay taxes in those countries, usually at significantly higher levels than U.S. “homelanders.” The ACA is getting the Congressional brushoff – polite conversation, “I feel your pain, but nothing doing.”
But what if other countries fight fire with fire and emulate America’s citizenship-based tax policy, demanding tax compliance from America’s approximately 50 million immigrants?
For the sake of argument, let’s see what might happen if Kenya did that:
Phil Hodgen: Why people expatriate
From Phil Hodgen’s blog (all rights reserved, used with permission)
Introduction
Americans are giving up citizenship and permanent resident (“green card”) status in increasing numbers. It is a significant part of our law firm’s practice, and discussions with people in the Middle East were a major part of my visits to Beirut and Dubai on this trip.
People are giving up U.S. citizenship even though the rules from 2008 onward make it expensive to do so. The current tax rules can impose a substantial–and immediate–income tax on someone who gives up citizenship.
They do it because keeping U.S. citizenship is getting more expensive, in economic and non-economic terms. Many of the non-economic reasons people expatriate are due to tax enforcement policies and a culture of fear encouraged by the IRS.
isaacbrocksociety.com has moved to isaacbrocksociety.ca (update)
We have set it up so that all subscribers at isaacbrocksociety.com will continue to receive a notice each time there is a new post at the isaacbrocksociety.ca.
At 2:30 pm, we will end the ability to make new posts and comments at isaacbrocksociety.com. Every current author will also receive an email presently with a password to login to the new site at this page: https://isaacbrocksociety.ca/wp-admin/
Good luck to us all.
UPDATE: Mission accomplished at 3:00 pm. All authors should have received an email with login information. If anyone has not received their email, please send me a message:
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So where were the journalists at the May 15th FATCA public hearing?
Since I did not see much in the way of in depth reporting on the FATCA public hearings of May 15th, I searched out the written testimony and sat down for a read this weekend. Thought I would share a few observations, (not an exhaustive analysis) and the provide the entire document for your own reading pleasure, so you can draw your own conclusions. Continue reading
How do you cope with anxiety?
This is an open thread to talk about how you cope with generalized anxiety. I’m one of those people who is anxious about everything all the time. But when business is good (like before 2008!) I keep myself busy so the anxiety has an outlet and I’m able to cope. These days business is slow as molasses and I obsess so much I think I’m going nuts.
Here’s what I’ve been doing but it doesn’t seem to work anymore:
– I take Ativan and Remeron every day. It helps but not as much as it used to.
– I play games on my Playbook at bedtime.
– I watch taped TV shows (I’m now having nightmares about things I see in the shows!)
– I often watch Fox News hoping all the people responsible for FATCA get voted out of office (yes I live in a fantasy world).
Some people drink to relax but that’s not an option for me, I’d turn it into an olympic sport.
Little things can help some people to cope with anxiety. What do you do that helps?