See the U.S. Constitutional analysis of FATCA article Neill has found.
From the document:
“…The FATCA reporting requirements arguably resemble that of a general search warrant. It was enacted in order to curb tax evasion of U.S. citizens using foreign accounts.
However, while the information reported can be useful to the IRS in confirming the income reported by individuals, there are no particularized suspicions in collecting this information from every foreign U.S. account.
Doing so assumes that every U.S. citizen with a foreign account is a “crook” evading his taxes.201
Additionally, the searches at hand contain the potential for abuse. This is due to the “access to this information without invocation of the judicial process.”202
The scrutiny of a neutral magistrate helps to balance societal and individual interests in the collection of the information at hand.203
Without a warrant issued through the judicial process, the search is an unreasonable violation of the individual account holders’ Fourth Amendment rights…”
Well I know that Marxisn is valve and well in the States. A friend of mine childhood is now a high school teacher. He is a Democrat and fully supports the notion of, from his mouth, “From each according to his means, to each according to his needs”. He was shocked when I responded with “Quoting Marx now, are we? So you are a Marxist?”. I didn’t know that was a Marx quote.
The “earned income tax credit” is applied for via income tax return. No 16th admen dent and it too double not be, in its current form. They would have to come up with a another vehicle for wealth distribution, hopefully a more overt form.
Marxism at its finest:
I am not now nor would I ever be against helping the truly needy. We all know who they are and whom they are not. Look at the most densely populated city of the world Singapore. The individual earnings are among the top anywhere. The secret is capitalism. Capitalism is not a dirty word. it has furnished the most for the most people, but it requires something that we in the USA have forgotten. It requires a willingness to work. It requires a government that doesn’t try to pick winners and losers. It requires a taxation atmosphere, where those with capital are willing to risk it, in order to get a return on it. Wherever that atmosphere prevails is where the people live best and where the good living is sustainable over time. Sure, you can use government to rob a segment to benefit another segment of the population, but capital flees to a safer location and the same people who benefited have become dependent and now become poorer.
Liken it to a farmer who has his seed corn stored, but foolishly takes it and eats it in the winter. Come spring he has nothing to plant and his land lays fallow. Is he richer or poorer?
Another farmer defends his stored corn, letting nothing happen to it, in the spring he has corn growing and will harvest a crop.
This concept was first articulated in a book written by Adam Smith in 1776, called The Wealth of Nations. This book should be required reading for every school child in the world, however it would require teacher who understand the nature of people and who believe it is kinder to teach self help and capitalism instead of all the Marxists we now have teaching K thru 12 and 99% of all college teachers. Marxism has failed wherever tried and we are stumbling headlong into the chasm it brings. The mystery to me is immigrants flee a bad system, come to America and try as hard as they can to recreate the very system they fled.
@ Wilton Tidwell
Ah yes, the old story of the two farmers and their seed corn. Monsanto, a creation of capitalism, has put a patent (backed by intimidation) monkey wrench into the modern day version of this story. Now farmers who sign on the GMO dotted line are compelled to buy their seed every year, plus the chemicals to spray on them. Even those who don’t buy these GMO seeds can find themselves in a David and Goliath struggle with Monsanto when their crops are cross-contaminated (e.g. the Saskatchewan farmer Percy Schmeiser and his canola field). I actually think both capitalism and communism are systems designed to keep the motley masses under control. Some say government comes from “govern” — to rule — and “ment” — the mind. Seems plausible to me when I see all the mind tricks being deployed these days to make people think wars are good.
The problem comes in where “the poor of the United States” seek to subject those “poor” expatriates who reside in other nations to punitive and financially crippling fines because the “poor within the United States” want to stick their hands in the “poor” expatriates pockets siphoning off whatever money that they can get.
The new poor who are sucking assets from the expats are from middle to upper class families. They simply don’t want to work. They want good cars, flat screen TV’s and I phones but want the state or their parents to furnish them. Most have studied Marxism in college as Bill and Hillary did. They are the first generation who wanted this benefit. They have become exceedingly wealthy sucking at the teat, with some betrayal of America thrown in, while they cashed in during the Obama years. I am supposing the expats are working wherever they live, but 90 million of the working age U.S. residents want to live without working and we are letting them do it, because if we don’t, they will simply take to the streets with masked faces and destroy our property.
Where did they get such ideas? The Russians sent a civilian army to our shores when Lenin and Stalin wanted to be the dictators of world socialism and we were the targets salted with a cadre of English speaking sleepers who were to become the parents of teachers, lawyers, doctors, professors and the investor of Wall Street. They were well furnished with money to become the desiered professions. The young generation was taught by the descendants of these sleepers and are accomplishing the Soviet goal even after the Soviet system failed, as all socialist systems fail.
Honestly, give it a rest. We get it. Communism bad.
The U.S. Government has found a way to redistribute wealth and not have the management and distribution problems the failed communist system had. You can manage your business, but they write the regulations. You can make a profit, but the gov’t will take a large chunk for themselves without doing a thing for it. If you incorporate they will tax you twice. Once when the profit is made and once again if you take an income from business operation. The sheepherder always takes all the wool from the herd. The sheep can bleat all they want but the wool is taken any way.
When Europeans did this we said our system was better, but now we are doing all the things our founders declared independence from, but alas there is no ”New World” to run to.
WAKE UP AMERICA AND HELP WITH THE PROBLEM. Every politician who takes a contribution from a lobbyist should be driven from office. The laws we all know to be bad laws are kept because they benefit someone with enough money to buy a congressman and stop all change. The congressmen trade votes in order to keep the system intact. That is what Trump called the SWAMP. As long as these contributions are legal the swamp will not be touched by anyone.
Just stop already.
Well the hell is wrong with you and people like you? If you don’t want to read what he has to say then hust don’t read it! Well in the hell must you always try to shut people up? What do you have against free speech?
“Prior to capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man.”
Dr. Walter E. Williams
Because it’s the same tiresome rant every time. It’s boring. It has nothing to do with reality-based measures to deal with the tax problems of non-resident US persons.
Then don’t read it.
I don’t, actually.
Then why bother to comment on it!
Because it’s annoying that the message board gets spammed up every time someone is off his meds.
Nononymous: Mr. Tidwell’s comments are not spam. They are just comments you don’t agree with or are comments you don’t feel are relevant to the discussion. There’s no need to denigrate a fellow blogger while expressing your own opinion. We are all in this together.
In capitalism, it’s man vs. man. In communism, it’s the other way around.
Thanks for the defense of my posts. IO tend to be verbose when it comes to making a point. However if you don’t know history, you will not recognize the importance of not repeating the nonsense all over again.
Those who study history are doomed to repeat it. Those who don’t study, experience it for the first time.
I believe the 4th amendment was written to be something other than a general search of a mass of citizens. Warrants Are to be issued on presentation of evidence that an individual has given Probable cause for that warrant. Each citizen is entitled to have that protection, not have warrants flung like cow dung against a wall, with the hope some of it will stick and the IRS can then move in with specifics and take your money. They should have evidence first, get a warrant, exercise the warrant, arrest if criminal activity is detected, go to trial and take your property, if a judge so orders.
Yeah, Yeah, that’s the ticket. The IRS does the last first. Millions of people have had their money taken and had to prove it was taken illegally and maybe and maybe not give it back. The do just about whatever they want to do
The US is a free. Everywhere within 1 light year of a US border, the US is free of constitutional constraints.
The US space program is working to extend that range.
I thought it was man exploiting man, and the opposite 🙂