There is absolutely no mention of how or if extraterritorial taxation will figure into how expats vote.
It seems that 3.6 million precious Social Security numbers have been obtained by some enterprising group of people. Data storage devices are nothing more than “mother lodes” of riches and the U.S. government seems to be incapable of closing off access.
I was just listening to the debate and again President Obama has repeated his rejection of Simpson/Bowles position that America move to a territorial taxation system for U.S. corporations. I guess that the whole Simpson/Bowles commission was a waste of time since neither the President nor the Vice President are behind one of the major tax reform proposals that this commission made.
The president is wed to a taxation system that forces companies to pay taxes twice on the same income. When you see just the kind of brick wall that U.S. politicians have put up with regards to taxation it is obvious that rationality and morality will never meet each other in the U.S.’s government.
Here is an interesting post about the disabled in America, that I read today on the Huffington Post’s website. The medical and financial situation for disabled Americans isn’t at all good under the present Medicare system and even if ObamaCare should get fully implemented it is not going to get materially all that much better. Since basically the Obama plan only extends Mediare coverage to more people but does little to improve the level of benefits.
Yet in spite of the extremely poor system of support that exist in the States for the disabled the U.S. Congress feels absolutely no degree of human shame about forbidding disabled expats from accessing the supreior social and taxation supports that may be available to them under more compassionate governments. The flip side of this Congressional intransigence is that if your level of government services is not as good as what is provided for in America, the U.S. government will not send funding to you so that you can have the same level of benefits as you would have if you did live in America. Instead their message to you would be that you must move to America if you want those benefits.
Precious angel, you believe me when I say,
What God has given to us no man can take away.
We are covered in blood girl, you know both our forefathers were slaves.
Let us hope they’ve found mercy in their bone-filled graves.
Petros, a visible Asian minority whose grandparents fled Japanese oppression of Korea, asked Recalcitrant Expat, a visible African minority whose ancestors suffered as slaves in the United States, to discuss the legitimacy of making comparisons between the plight of U.S. expats today with past atrocities. This is in the aftermath of the posting of a Hitler spoof video which compared FATCA’s rounding up of U.S. citizens for taxation and FBAR fines to how Hitler rounded up the Jews for extermination in camps. This post is a result of their common reflexions.
Here is an article that I just came across which list the top U.S. based tax havens.
What a shame the responsible Americans are doing their best to find a job rather than stay in the U.S. unemployed, collecting food stamps and living in section 8 housing–only to find that their mindless politicians have new plans that will make their lives outside of the U.S. an impossibility. In 2013 the Foreign Account Tax Compliance Act will begin and under its IRS reporting rules these hard working Americans will find themselves unable to open a bank account unless they are willing to sign away their Canadian privacy rights. Add to this the IRS’s restrictions on the types of accounts that they can hold, restrictions on employer provided pensions, investment restrictions and the potential for double taxation, and you’ve got a recipe for U.S. government induced failure. Many Americans from all over the world are now moving back to the States because the U.S. Congress has decided to make their lives outside of the U.S. intolerable and embarrassing. There is no reward for doing what is right.
Mark Steyn wrote the following article on U.S. citizenship taxation and Denise Rich in the National Review Online-
Hello everyone. Today my son picked up his CLN from the post office. It has actually been waiting there for him for over a week but he just didn’t have the time to go get it. He expatriated on May 3rd of this year so he got his CLN in record time.
Well I got my CLN today. My passport was of course with it but it wasn’t punched full of holes. There was not one additional hole that was added. The only alteration that I could see was the note regarding the day of my expatriation.
My CLN now rests comfortably inside my bank’s safety deposit box. I did make a copy before hand though and had it witnessed by a Commissionaire of Oaths.