Here is what Congresswoman Schakowsky had to say vocally in support of Carl Levin’s son of FATCA legislation:
http://capitolwords.org/date/2012/06/06/H3505_motions-to-instruct-conferees-on-hr-4348-surface-t/
I would hope that everyone would support this motion to instruct because I think you probably know that nothing annoys American taxpayers more than the notion that offshore tax havens is a place for tax cheats to go so that they don’t have to pay their taxes that normal Americans, everyday Americans, have to pay to the government.
This amendment will give the Treasury greater power to fight against offshore tax havens and tax cheats, that will allow the Treasury Department to take a range of measures against foreign governments and financial institutions that significantly stand in the way of U.S. tax enforcement.
These special measures already exist for Treasury in combating money laundering by foreign governments and banks, money that could be used to finance terrorist activities. Now Treasury will have greater power to investigate offshore tax abusers and tax abuses and crack down on offenders and banks that aid them.
For example, Treasury could prohibit U.S. banks from accepting wire transfers or honoring credit cards from banks found to significantly hinder U.S. tax enforcement.
Treasury can impose conditions on foreign banks and prohibit them from opening or maintaining bank accounts within the United States that are significantly standing in the way of U.S. tax enforcement. Enacting this amendment makes our tax system fairer and helps reduce the deficit.
This is a commonsense amendment that could raise nearly $1 billion to help tackle the Nation’s deficit and debt. The provision ends offshore tax abuses without raising any taxes, without creating any new obligations for Americans, and without amending the Tax Code. We need to crack down on foreign governments and foreign banks that help privileged individuals and corporations dodge taxes while the rest of Americans have to shoulder the extra tax burden. This amendment does that.
She was also one of the primary supporters of the Congressional Progressive Caucus’ “Budget for All” which tried to kill the FEIE:
http://isaacbrocksociety.ca/2012/04/02/foreign-earned-income-exclusion-killing-budget-for-all-defeated/
This is the quality of “representation” that U.S. Persons abroad have in Congress.
“Treasury could prohibit U.S. banks from accepting wire transfers or
honoring credit cards from banks found to significantly hinder U.S. tax
enforcement.”
How is this supposed to work?
And if everyone just decides they don’t need to buy anything from the US – because their credit cards won’t be honoured – and they just buy things at home instead?
What do major US retailers and those with significant mail order operations think about this proposal? You know, Amazon, clothing retailers, etc.
Do the Chambers of Commerce, and retailers in Michigan and other border states like New York welcome the news that the US will be imposing measures that result in the loss of significant tourist dollars from Canada, and the loss of trade from cross-border shopping?
I guess the US doesn’t need anyone to come there and spend money. They’d rather send them and their ‘foreign’ credit cards away as punishment. Fie on you! Take that, go away tourists! We don’t need your money here, our US businesses have enough homeland customers – despite our prolonged economic downturn and growing deficit – we have too many consumers already.
Wow, this woman supposedly speaks for us? Could have fooled me. Here’s some interesting info:
http://illinoisreview.typepad.com/illinoisreview/2012/03/convicted-felon-robert-creamer-is-heading-americans-united-for-change.html
@Nobledreamer: She is clearly part of the same Chicago crime family that is occupying the white house.
What we have to recognize is that the income tax is the PERFECT divide and conquer tool. With it you can constantly pit different slices of the population against each other. Every election cycle the socialist mafia can whip up the base with tax-cheat demagoguery. It is almost as useful as Democratic party racism and Democratic party sexism.
So if you are a member of one of these progressive special interest groups you are easy prey to this manipulation. And if you a socialism believing fool who actually isn’t a parasite (that means that you do not work for any form of government or receive any government benefits) and you still believe in this drivel then you are truly a fool who is costing the rest of us dearly.
*We are lost! This woman is a Representative of which State?