FATCA is not the only bank regulation that will result in foreign capital fleeing the United States.
Barbara Schechter, Canadians blast U.S. Volcker rule, writes about how the new rules violate NAFTA:
Author Archives: Petros
U.S.-born Campbell River senior fears Uncle Sam’s tax wrath
An American-born Campbell River senior [Paul] – a Canadian citizen for 40 years – fears he and other ex-patriots are about to become the victims of a mean-spirited money grab by Uncle Sam.
Paul said, ““Once I showed my Canadian passport at the border and the U.S. border guard told me ‘you are a U.S. citizen until we tell you you’re not.’”
Civil Disobedience, FBAR and Forms 8854 and 8938
A law which is unjust does not seem to me to be a law.
St. Augustine, On Free Choice Of The Will 1.5
Once a free person determines that a law is unjust, it is not wrong, if he or she disobeys that law. I consider the FBAR law unjust, especially in its application to US persons abroad, who by nature of their residency outside the United States, innocently open up financial accounts to store and invest the capital that they have saved after duly paying taxes. Continue reading
Wall Street Journal: Washington's Assault on American Expats (Updated with a comment)
Copied to me from Just Me:
We are on a roll. WSJ has just posted another story under the heading…
Washington’s Assault on American Expats
If you can not read this, go to Google News, and plug the headline into the search, and that should get you beyond the create an account page…
The new year is shaping up better than 2011 for a conversation in the public forum on US citizenship taxation/reporting issues.
Do United States persons abroad differ substantially from residents of Washington D.C.?
Residents of Washington D. C. have no representation in Congress but must pay Federal taxes. United States persons abroad may vote–Doesn’t that make the folks in Washington the greater victims of the injustice of “taxation without representation”?
Another article by James Fallows
Copied to me from Just Me:
Well guys. James has been working late, and just posted this at 1:25a. He has now produced a trilogy on FATCA /citizenship taxation issues…here, here and here. I think he may have developed our passion for the subject now. This has definitely started a conversation and a debate, and anyway you look at it, it has to be good.
On whether Isaac Brock should be our name: My e-mails to James Fallows
Some may be interested to see my full e-mails with national correspondent James Fallows at The Atlantic; now that he has published his article, I feel free to publish my e-mails to him in full.
Breaking news: The FATCA Menance by James Fallows
Just Me copied the following to me:
FBAR_Compliant Just Me
JAMES FALLOWS continues on FATCA Menace with balance attempt from dissenting opinions. Fair enough. The Fatca Menace!
This is a followup to his New Years post, Fatca, the Menace you will hear about in 2012
So, the conversation and education of the “normal” Americans, on the Progressive side of the equation, has started! Let the merits of the opinions and comments be given full voice. We need the debate. I think it Continue reading
Approaching the media: Honey works better than vinegar
Just Me was successful in promoting our cause with James Fallow at Atlantic. We are all in debt to Just Me’s tireless efforts in this regard. I wrote this yesterday at the expat forum:
One of the reasons for the recent media attention to our issues is that people like “Just Me” and CAFREEB have tirelessly contacted the media whenever they can to congratulated them when they write an article on a subject, then in their communicaton to the author, they will add a perspective or two. (Win them over with honey not vinegar–something I have to learn how to do). Continue reading
A progressive gets it
Just Me sent me this:
At last a well known author and blogger, James Fallows of the Atlantic, with lots of cred in the progressive community, is writing about FATCA.
This hopefully will get attention in a more bipartisan way, as it is now not just a conservative or libertarian issue. It is an issue that can and will affect all Americans not just those of a particular political persuasion.