Yesterday was a busy day on this blog. There were many comments explaining why U.S. citizenship is a “problem to be solved“. I would be interested in having you post comments explaining specifically why you wish to retain U.S. citizenship. Practical, emotional, Patriotism?
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
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.
Those were the days:
Section 611 of the Foreign Relations Authorization Act of 1979, (Public Law 95-426) enacted by the U.S. Congress and signed into law by President Jimmy Carter on October 7th, 1978.
Section 611(a) The Congress finds that –
(1) United States citizens living abroad should be provided fair and equitable treatment by the United States Government with regard to taxation, citizenship of progeny, veterans’ benefits, voting rights, Social Security Benefits, and other obligations, rights, and benefits; and Continue reading
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”?
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.
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.
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
The argument in favour of the US’s citizenship based tax system has long been that citizens benefit from having an American passport, even if they don’t live in the United States. But for many expats, FATCA is tipping the balance and the US passport has become a liability. Expats living in Europe are finding it increasingly difficult to open bank accounts – a necessity of daily life. But European banks are simply protecting themselves from the exorbitant costs of FATCA compliance and risk of harsh penalties.
James Fallows has written an article in the Atlantic about FATCA. He has indicated he will write more about its unintended consequences on US citizens abroad in the future, based on the hundreds of links he’s gotten from people in Asia, Latin America, the Middle East, and Europe.
The link is: Fatca – The Menace You’ll Hear About in 2012
I noticed he didn’t mention Canada, so I have just written him to make sure he knows about the huge effect and consequences FATCA is having here.
Here is what I wrote: Continue reading
