Liberty and justice for all United States persons abroad

The Isaac Brock Society

39 thoughts on “Nevada for Obama calls FATCA an Obama “Accomplishment” Take that DA”

  1. http://newsandinsight.thomsonreuters.com/Legal/News/2012/09_-_September/U_S__overseas_tax_dragnet_refocuses_on_country_partnerships/

    Quoted is Mark Matthews, of Caplin & Drysdale, former head of the IRS’s criminal investigations unit. 

    Bilateral agreements are “clearly less airtight and bulletproof. But the (FATCA) statute as written was wholly unachievable,” (emphasis mine)

    Some may recall that MP John Weston met with Mr Matthews earlier this year in May. Still, that pregnant silence from the Canadian government…

    http://isaacbrocksociety.ca/2012/06/26/a-response-from-john-weston-mp-on-fatca/

  2. Confederate, I still don’t see how people leaving the US is considered racist. Americans just don’t like it when you don’t want to “play on their team” anymore. The comments from the Atlanta mayor also stem from this same belief. It goes contra to everything they are told. When someone says “I don’t like it; I want to leave”, they can’t accept it and probably never will.

    Hehe, I got my first experience with this when I visited the consulate for my “first visit” a while back. I caught the staff off guard;  they didn’t know I was coming and for what, so I think I got his honest reaction! “YOU WHAT!!” <- was the first thing that came out of his mouth. It took a while for them to calm down. I’m sure that they are all smiles and professional when they know you are coming. Next time, I will speak entirely in the language here just to see how good their language skills are 🙂 Hopefully the *next time* will be very soon.

  3. Thanks for this, as you say, interesting link, SwissPinoy:

    Leveling the Playing Field: Curbing Tax Havens and Removing Tax Incentives For Shifting Jobs Overseas
    http://www.whitehouse.gov/the_press_office/LEVELING-THE-PLAYING-FIELD-CURBING-TAX-HAVENS-AND-REMOVING-TAX-INCENTIVES-FOR-SHIFTING-JOBS-OVERSEAS

    Closing Foreign Tax Credit Loopholes: Current law allows U.S. businesses that pay foreign taxes on overseas profits to claim a credit against their U.S. taxes for the foreign taxes paid. Some U.S. businesses use loopholes to artificially inflate or accelerate these credits. The Administration would close these loopholes, raising $43.0 billion from 2011 to 2019.

    refers to US businesses but could support belief that FEIE will one day soon be eliminated for individuals.

    Reform the Foreign Tax Credit to Remove Unfair Tax Advantages for Overseas Investment: The Administration’s proposal would take two steps to rein in foreign tax credit schemes. First, a taxpayer’s foreign tax credit would be determined based on the amount of total foreign tax the taxpayer actually pays on its total foreign earnings. Second, a foreign tax credit would no longer be allowed for foreign taxes paid on income not subject to U.S. tax. These reforms would go into effect in 2011, raising $43.0 billion from 2011 to 2019.

    How would this translate re Foreign Tax Credits for individuals? Foreign tax credit schemes, such as, for Canada, RRSP, RRIF, TFSA, RESP, RDSP — and similar for other countries?

    Cracking Down on the Abuse of Tax Havens by Individuals: The IRS is already engaged in significant efforts to track down and collect taxes from individuals illegally hiding income overseas. But to fully follow through on this effort, it will need new legal authorities. Current law makes it difficult for the IRS to collect the information it needs to determine that the holder of a foreign bank account is a U.S. citizen evading taxation. The Obama administration proposes changes that will enhance information reporting, increase tax withholding, strengthen penalties, and shift the burden of proof to make it harder for foreign account-holders to evade U.S. taxes, while also providing the enforcement tools necessary to crack down on tax haven abuse.

    Shift the burden of proof — guilty until proven innocent. Enforcement tools — foreign banks and change of foreign privacy laws or having US Persons waive those rights.

    Hire Nearly 800 New IRS Staff to Increase International Enforcement: As part of the President’s budget, the IRS would be provided with funds to support the hiring of nearly 800 new employees devoted specifically to international enforcement. The funding would allow the IRS to hire new agents, economists, lawyers and specialists, increasing the IRS’ ability to crack down on offshore tax avoidance and evasion, including through transfer pricing and financial products and transactions such as purported securities loans. According to estimates by the IRS, every additional dollar invested in enforcement in recent years has yielded about four dollars in added tax revenues.

    Supports that it is time to renounce or relinquish now, before US rules and penalties are even more onerous, more punitive. Does this new enforcement include the IRS Whistleblower program, pitting us against one another? After all, I will comply and renounce. I do not have the right to renounce on behalf of my developmentally delayed son, but nor will I register him with the US and start the hamster wheel spin of US tax returns for him year after year after year, with no taxes owed to the US — he and I second-class citizens in the country of my choice. Will someone turn my son in — I think not, but who’s to say? Even when I receive my CLN (god-willing), I will still not cross the border unless there is a health emergency or death with one of my US siblings. Self-inflicted consequences by my decision, I could not visit US relatives or friends or be a tourist, leaving my Accidental American US son behind because it is my choice not to register him with the US, etc. — because he will not understand the WHY he is left behind. I will just have to trust that Canada will keep its word and we are protected while on Canadian (home) soil.

  4. https://petitions.whitehouse.gov/

    HEre is a new Obama gimmick—if you get 25000 signatures within 30 days, then Barry or his Merry Men will read your petition.

    This could be achieved by leading it centrally, say from ACA.  Each of the organizations American Womens Club, REpublicans Abroad, Democrats Abroad, ACA, Brock Society, etc could encourage their members and others via facebook etc to sign.

  6. @SwissPinoy

    You are refering to the 2009 speeches and press releases related to the release of the FATCA bill.

    He follows that up with this from Jan 2012

    FACT SHEET: President Obama’s Blueprint to Support U.S. Manufacturing Jobs, Discourage Outsourcing, and Encourage Insourcing

    http://www.whitehouse.gov/the-press-office/2012/01/25/fact-sheet-president-obama-s-blueprint-support-us-manufacturing-jobs-dis

    I also posted a link where he listed similar things as part of his election platform, but my searches cannot find it again—doesn’t matter, he is fully proud of his achievement. 
        Great for WhoaItsSteve, who is a proud member of the majority rulers.  And he is right, Mitt is serving Steve his dinner on a platter.   Eat it hardy.

  7. Kinda off topic, but I ran across a hilarious quote about Nevada on a bulletin board, by an American guy who had lived overseas but then returned to the US and settled down in Nevada (link):

    I lived overseas for 11 years. I might have stayed but I had a child and when he turned 5 I felt obligated to have him educated in the USA so I went around America and picked Las Vegas because everybody in LV seemed so stupid and unreliable, I felt I could shine like a star.

  8. *Eric, Debate Politics, what a lovely forum!   I’m not allowed to post there.  I made maybe 5 innocent, rule-compliant posts a few years back, but someone didn’t like my political criticism.  When I log in, it states:

    You have been banned for the following reason:
    No reason was specified.

    Date the ban will be lifted: Never

    In relation to the post, Debate Politics must be based in Las Vegas! If my memory serves me correctly, a moderator from DebatePolitics was banned from PoliticalForm after creating a thread stating that DebatePolitics was free of my political criticism! (the language used was less professional)

  9. Barry the Majority Ruler: “One of the things I have learned is that the president has to represent all of the American people”     Find a way to put that one on Barry’s Nevada Site

  10. Looks like my comment didn’t make it.  Oh well it wasn’t terribly inspired anyway. 🙂

    @Eric,  Yes, Mencken’s words about the US (Not just Nevada) are still true today: “Here the business of getting a living…is easier than in any other Christian land – so easy, in fact, that an educated and forehanded man who fails at it must actually make deliberate efforts to that end.  Here the general average of intelligence, of knowledge, of competence, of integrity, of self-respect, of honor is so low that any man who knows his trade, does not fear ghosts, has read 50 good books and practices the common decencies stands out as brilliantly as a wart on a bald head, and is thrown willy-nilly into a meager and exclusive aristocracy.”

  11. I had landed on this one again
    Homeland Security May Contact U.S. Persons Living Abroad Who Owe Back Taxes 
    http://www.aicpa.org/publications/taxadviser/2012/july/pages/clinic-story-07.aspx?action=print
    The database allows the DHS to identify taxpayers with unpaid tax assessments who are traveling to the United States for business, employment, or personal reasons (Internal Revenue Manual (IRM) §5.1.12.26). As a result, taxpayers traveling to the United States with unpaid tax assessments increasingly are being detained at the border.

    I tried to verify this in the internal reveneu service manual, but there is no longer a section 26, so either it was removed, the information was incorrect, or something

    I did find Section 6. Procedures for Lien Processing, it was boring
    http://www.irs.gov/irm/part5/irm_05-012-006.html

    Section 6. Report of Foreign Bank and Financial Accounts, which is informational

    http://www.irs.gov/irm/part5/irm_05-021-006.html 

    Offshore Information Gathering Techniques , this is enlightening in a very non-good sense

    http://www.irs.gov/irm/part5/irm_05-021-002.html

    Part 5. Collecting Process , Chapter 21. International and Insular Issues, Section 5. International Field Calls , informational

    http://www.irs.gov/irm/part5/irm_05-021-005.html

     

     

     

  13. @Petros:  “I and most of the posters here who are Canadian, are absolutely not guilty of “White flight”.”

    And most of the Jews sent to the gas chambers in 1945 were absolutely not guilty of any of the “crimes” listed in the protocols of elders of zion.  Whether they were able to perceive that they had already been made guilty for them was irrelevant to what the then ruling German elites had decided was their fate. 

    You steadfastly refuse to consider race politics as one of the reasons why the Democrats seem so intent on inflicting pain on you and other “innocent” expats.  You have written that Romney would not be as bad as Obama, yet to my recollection you haven’t come up with another good reason why Obama, Jarret, Durbin, Levin, Schumer, etc has singled out your “small minnow” demographic for their wrath. 

    I at least am looking at their history, their tactics, and their upbringing and coming up with motivations that are consistent.  Obama always gets nearly all the black vote, yet when one looks at results he has done little for them.  Why do they vote for him when his is half white and such a phony?  Could it be the fact that his “punishing the rich (white-flighters) ” rhetoric might scratch an itchy nerve within the Democratic party black base?   Could he and his base possibly associate the expats with the teaparty which they have already declared racist numerous times?  Could merely leaving the US make you guilty of racism for abandoning your US brethren of whom you are their brothers keeper?

    Not for Petros.  You remind me of the three monkeys:  see no racism, hear no racism, speak no racism.

  14. The bill was voted down because it did not cut the deficit as was planned.  A 60% yes vote was required to get around the budgetary limitiatons.

    Screwing US citizens is purposely mentioned as a revenue raiser in one instance.  I suspect that such talk has been going on since the HIRE act and before.

    Congressional record shows that the Senate is not ignorant of the passport revocations in the bill—-THEY ARE DEBATING IT AND AGREEING TO IT AS BENEFICIAL TO REVENUE GENERATION–

    http://thomas.loc.gov/cgi-bin/query/F?r112:1:./temp/~r112h9kxBq:e17119:

    Mr. Sessions: …….In effect, there is a tax increase, argued with some validity, to pay for this bill. The bill uses a tax enforcement measure to stop abuses by people who don’t fully pay their taxes. This will raise revenue, and, therefore, the bill is offset, and so we shouldn’t worry about it. So here we have a new idea for helping veterans: We will raise taxes and revenue and we pay for it.

       But this is what is called tax and spend. Tax and spend. We agreed to a limit on what we would spend. If we have discovered a method to collect more taxes or raise taxes to get more revenue, that money, under our budget agreement last summer, is to be used to pay down the debt, not to take more money to spend on a new program today because we have more revenue to spend. So that is a fundamental issue. Just because it is paid for does not mean we are not spending more than we agreed to spend. We very precisely are. ……….

       Article 1, Section 7 of the United States Constitution says:    All Bills for raising Revenue shall originate in the House of Representatives. …..    This is a revenue bill.

    Let me just point out the bill is not going to go through the House since it violates the Constitution. There are revenue proposals in this bill. It will not see the light of day in the House because the Constitution says revenue bills must be generated in the House. So we have wasted all this time producing a bill that cannot and will not be received by the House. ……”

    No doubt you could research and find more instances, this is just an 8 minute research job.

     

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