I am posting this thread on behalf of Charl who is wondering if anyone would be interested in protesting at the US consulates. Her mission is to educate the public, and get much needed media attention.
Most Canadians fortunate enough not to have a US branding, if they’ve even heard of FATCA amd FBAR, likely think it does not apply to them. They don’t readily see that legislation to implement a FATCA IGA will allow the US government to rob Canada of a significant portion of its assets, and that the Canadian government is actually paying to allow the US to steal from the tax base of Canada.
We need to expose the real numbers of dollars that the US is attempting to extract from Canadians. For example, there are estimated to be over one million Canadians with ‘clinging US nationality’ (WhiteKat loves this term, but forgets who came up with it). Even if only half of these unfortunate Canadians are exposed, and each has an average of 3 accounts never previously revealed to the USA on FBARs, the penalties owed would be at minimum $90 billion dollars (3 accounts * $10K per account * 6 years * 500,000 Canadians). In addition to this siphoning off of wholly Canadian earned, already taxed in Canada savings, Canadian tax payers will be on the hook for the welfare support that will be required by financially devastated Canadians, deemed ‘US persons’ and thus US taxpayers by the USA. In addition, the Canadian banks are spending billions to become FATCA compliant; guess who will be paying the banks’ FATCA compliance costs?
I am thinking that a good venue for a public protest would be to hold simultaneous protests at all US consulates in Canada. If we can get large numbers of angry Canadians showing up at all US consulates on the same day to make a huge noise, perhaps we can get some major attention from Canadian media. Although it would be nice to have the consulates themselves hear us, that is secondary in my opinion. For some reason, despite many attempts by concerned Canadians, regarding the seriousness of this issue, the Canadian press is not picking up on this US attack on Canada to any major degree. I fear that most of our MPs do not understand the unintended fallout of the ‘wonderful’ deal our government has made with the devil, once it has exposed to the IRS, those Canadians whose dominant nationality is Canadian, but who USA claims as its own, in USA’s immoral quest to impose a form of taxation that drastically conflicts with internationally accepted norms.
For best effect, we should be BIG and LOUD, and do what is necessary to get lots of attention. Rally your friends, families, and neighbours to join us. Our government may be terrified of the US, but we little folk, afraid as we may be, realize what is at stake to ALL Canadians, and are brave enough to come out and push back at the bully to our south.
The world is watching to see how Canada will react to FATCA, as Canada has the most IRS targeted, so-called ‘US persons’ in the world. As such, our country has a moral obligation to be a world leader and to give other countries the courage to stand up to the US’s bullying tactics and extra-territorial overreach. Imagine all countries saying ‘NO’, if we can show them the way.
If you all think this is a good idea, we would have to choose a date, advertise the event, devise/modify and print out FATCA educational materials (update the FATCA fact sheet), create signs, see if other groups (perhaps those with protesting experience) will join us, etc. I have a few ideas, but need more if we have any possibility of doing this.
What do my fellow Brockers think?