Is Obama picking Merkel’s pocket? Germany paid 656 million EUR to help America collect supposed 92 million EUR from dual US/German citizens. German bank customers each paid 12 EUR for the privilege of supporting Barack’s budget.

Do you suppose that we could immediately dispel any myth that Americans in America are sending their money to Germany to avoid taxation? I know it might be hard for a guy like Mythster Stack, but let’s try.

USA’s estimated FATCA take was 8.7 billion USD over 11 years (or 7.9 billion USD over 10 years). (Never mind that all of that supposed revenue disappears by lost taxation of US-owned foreign financial institutions) Knowing that “fair share” is a common theme of the Obama administration, Germany should be assumed to provide its per-capita share of FATCA income. (Well, then again, it could mean more, since, to Obama, “fair share” means that someone other than he or his hangers-on have to foot the bill for his largesse). Germany’s population is 1.16% of the non-US world population. Hence, the theoretical Obama FATCA take from Germany ought to be 91,640,000 USD. At the averaged exchange rates of the IRS itself, Obama’s FATCA Euro take out of Germany is a measly 74, 700,000 EUR.

(alternatively, let’s suppose that Germany’s “fair share” is as 1 country of the 190 countries of the world. This means that Germany might be contributing 41,600,000 USD / 33,800,000 EUR.)

This is a method of analyzing German FACTA implementation costs. German FATCA implementation was estimated to be 386 million EUR upfront, and 30 million EUR per year thereafter: 656 million EUR over a standard 10 years.  Knowing that interest rates are near zero, there is no need to consider Present Values.

So, Obama required Germany to pay 656 million EUR so as to help USA get 74,700,000 EUR? Obama could have just done the greatest economic con ever done on another country.  Obama enacted this con with LOADS of tax propaganda, calling countries such as Germany “offshore”, that Americans were sending their money to Germany in order to avoid taxation. In reality, all Obama was doing was to get Germany’s banks to identify the 109,000 Americans living in Germany.

Whaddya say we just stop here and let this ludicrousness stand for itself? Well, no, it all just gets worse.

Germany’s EU rep says that it has to “thank America for this (FATCA)” (at 49:00 of this video).
Continue reading →

Following a suggestion made by Bubblebustin at the Media and Blog Articles thread today, here are some links to an excellent series of personal blog posts by a 23 year old woman who calls herself The Dualist:

HALF AND HALF

FINDING OUT I WAS A 23 YEAR-OLD US TAX “DELINQUENT”

ASSESSING MY OPTIONS FOR ADDRESSING MY NEWLY-DISCOVERED ‘DELINQUENT’ US TAX SITUATION

As Bubblebustin describes, “A young woman discovers her US tax and filing obligations and realizes she’s damned no matter what she does. She speaks for many of us when describing her OMG moment to the current struggle whether to renounce a citizenship she still identifies with.”

The Dualist was born in the UK, moved to the US as a toddler and lived there until the age of thirteen, then moved back to the UK.  Here are some excerpts from her vividly-told story:

I have introduced myself to people as half-English and half-American ever since I was old enough to respond to the question, “where are you from?”. It is almost always the first thing I say when asked to tell somebody about myself. I never reflected too deeply on what being half-English and half-American actually meant. It has just been the simplest, shortest way of alluding to certain personal circumstances, like having an American father and an English mother; as well as experiences, like moving between England and the States growing up, that have contributed to who I am.

 

It all began during a client dinner in the City in London one evening. I was sitting at a large table with around a dozen people. Half of them were our firms’ clients, and the other half were my colleagues. The most senior employee of the client firm present, an American, noticed my accent and asked me where I was from. I explained that I was a dual citizen, and that I had grown up in the US. After a few polite questions about where I had grown up, and when I had left the country, he abruptly asked:

“So, do you file your US taxes?”

 

In the period after the initial “oh my god” moment I felt seriously paranoid, scared and confused about what I should do. The whole concept of citizenship-based taxation was so bizarre to me, and its enforcement rules so disproportionate, that trying to come to terms with it all could be best described as disorienting. ‘Surely this is all just a big misunderstanding,’ I often thought, ‘or a bad dream!’

 

Why does the US government want to make our lives so difficult when we have done nothing wrong? Why are they burdening us to continually prove that we are innocent, and invading our privacy using third parties and foreign governments to make sure that we’re telling the IRS the truth? Why are they terrorizing us with threats of bankrupting penalties, incarceration and (very recently) passport revocation? What exactly are they hoping to achieve, when the vast majority of us do not even make enough money to owe taxes to the US?

Can they talk about the ‘land of the free’, or being ‘leaders of the free world’ with a straight face anymore?

 
Continued from Perhaps After Reading This You Could Suggest a Title for This Post

The first part of this story was relayed in the post “Perhaps After Reading This You Could Suggest a Title for This Post. As you may already know, the father of an expatriate in Sweden left 2 letters as a comment, written to his Senator informing her his son had been considerably disturbed by FATCA and had committed suicide out of desparation.

Jonathan Andrew Prince was born in California on February 26,1969. He attended university as an undergrad at “Cal Poly” and went to Sweden to further his studies in brain chemistry and obtain his Ph.D. He remained in Sweden, married, had two children and a career at the Karolinska Institutet. Some have questioned whether this story is a hoax; whether Jonathan was a real person; did he work at the Karolinska Institute and so on. All I can say is that to the best of my knowledge, based upon my conversations and emails with his father and my own searching on the internet, he most definitely was a real person. His obituary notice is linked at the end of this post.He passed away on June 20, 2015. Here are a few links that speak to his work:

Microsoft Academic Search Author Jonathan A Prince
aminer.org profile Jonathan A Prince

Further, some claim he could not possibly have done what he did due to “tax problems.” Or that it is not fair to claim that this was the result of FATCA because it almost certainly was due to some mental or emotional instability. My response to that is no competent therapist would ever separate a person’s actions from all the accompanying features of the person’s life. The mental and emotional states are intimately interlinked with the conditions of one’s employment, family dynamic and so on. It is not truly possible to separate the outside experiences of one’s life from their inner state. Here is a description of how a psychologist sees the effects of U.S. tax policy affecting expats.This comment was made in the context of the 2 meetings that were organized to offer people a chance to talk openly without any fear of being exposed; June 15, 2013 & March 29, 2014 (which Dr. Young was scheduled for but missed due to illness).

All of the emphases are mine:

In the words of Dr. Donald Young

For those U.S citizens who have elected to live abroad, be it in Canada or elsewhere, American tax policy can place such individuals in a position that engenders constant and severe emotional stress. The vindictiveness of the U.S. position, its unfairness and irrationality, the fact that neither the U.S. government nor tax and legal experts even know the rules and how to rationally proceed, and the constant threat of economic calamity are all factors that can be emotionally devastating. From my observations over the years in people ensnared in this situation, and I would count myself among us, it is common to experience substantial anxiety, depression, feelings of panic and foreboding, guilt over being branded a cheat and a criminal, fear, anger, resentment, and general feelings of helplessness and confusion. I have in fact seen some people who have become virtually suicidal at the prospect of losing everything for the “crime” of not paying taxes to a country they have not lived in for decades if ever at all. I am a clinical psychologist licensed to practice in Ontario with 35 years of experience. I have also been appointed an assistant professor in the Department of Psychiatry at the University of Toronto. In recent years I have had the opportunity to discuss and address these problems with many individuals who are trapped in these tragic circumstances
Along with John I am happy to make myself available in any of the forums or meetings that will be forthcoming. There is always strength in numbers and sometimes much can be gained by discussing common problems together in a group. I am also happy to chat or work with people individually with these concerns.

This is a link to the obituary . I am trying to post an actual picture but it is not coming out clearly enough to read. Will work on this.

One last thing for today. Many have commented as to how they cannot understand (or even don’t believe this story because of this) how a father could do such a thing with two young children. I suspect those who outright disbelieve it do not actually have children. Any honest parent will admit to the difficulty of the constant sacrifice required and how sometimes it simply is too much. Parents are not saints and they suffer the same myriad of issues as anyone else. And it is common knowledge in the counselling world that people who commit suicide feel extreme guilt at being the source of a problem, so the solution, in order to protect, is to take themselves out of the equation. No one would question a parent putting themself in front of a car to protect a child (even one who wasn’t their own). On a certain level, it is exactly the same thing. Life is not neat and tidy and clear sometimes.

Continued from Perhaps After Reading This You Could Suggest a Title for This Post

Forty minutes of more FATCA education for every *Government Abroad* (outside the USA)…

And, our Canadian government representatives – whichever stripe (past Conservatives or present Liberals), you haven’t been listening or comprehending.  You have been and remain to be negligent on behalf of *US Person* Canadians as well as all Canadians.

Jim Jatras reminds us — and many here at Brock have certainly provided information from the December 15, 2012 video below to our Canadian government representatives,

Frankly, this would have been a helluva lot easier a few years ago (there’s not much I said in this new video I didn’t say in 2012…

…but the chickens keep roosting with no push-back.

UPDATE:  The full interview segment with John is now available on the Isaac Brock Society YouTube channel  

 

LIVE: Citizenship Lawyer John Richardson discusses how dual-citizens in Canada are navigating the American tax system. #cdnpoli #ctvpp

— CTV Power Play (@CTV_PowerPlay) February 10, 2016

Richardson says it’s very difficult to do reasonable retirement planning if you are a Canadian who also holds US citizenship #cdnpoli #ctvpp
— CTV Power Play (@CTV_PowerPlay) February 10, 2016

John Richardson will be interviewed today by Don Martin on CTV’s Power Play.The show airs from 5:00 – 6:00 pm EDT. We expect his segment to be somewhere around the 5:30 pm mark. Please pass the word, particularly to those who may not appreciate the reality of this situation.
PODCAST (audio only)
View the video online need a Bell Media account

With thanks to our resident expert Deckard1138 for capturing, editing and posting this!
 

12 January 2022

If clicking on a link in the comments brings you to the wrong place on the thread, click here.  (It may bring you to the page before the current one, but it’s closer).  This is a link, even though it doesn’t look like one.  You may have to scroll   Having a technical problem and working on it.

UPDATE February 13, 2016

I have finally decided on a new name for this post, which will not continue on this thread but as a new post:

A #FATCA Related Suicide

I have not been updating this post as regularly as I intended. I have two items for you to think about today. One is a comment from a psychologist; I think it is extremely important to hear from a professional, as to how this entire situation can affect the well-being of one caught up in it. The comment was made in the context of the 2 meetings that were organized to offer people a chance to talk openly without any fear of being exposed; June 15, 2013 & March 29, 2014 (which Dr. Young was scheduled for but missed due to illness). The second item is an actual obituary for “J” for whom you will now see his actual name. I have been reluctant to post it but it has to come out eventually. I would expect ALL to respect the privacy of his family in Sweden.

One last thing for today. Many have commented as to how they cannot understand (or even don’t believe this story because of this) how a father could do such a thing with two young children. I suspect those who outright disbelieve it do not actually have children. Any honest parent will admit to the difficulty of the constant sacrifice required and how sometimes it simply is too much. Parents are not saints and they suffer the same myriad of issues as anyone else. And it is common knowledge in the counselling world that people who commit suicide feel extreme guilt at being the source of a problem, so the solution, in order to protect, is to take themselves out of the equation. No one would question a parent putting themself in front of a car to protect a child (even one who wasn’t their own). On a certain level, it is exactly the same thing. Life is not neat and tidy and clear sometimes. Continue reading →

Getting Charter rights right.

Democrat Candidates have little to offer #Americansabroad there will still be #FATCA #FBAR #CBT taxes – Let Us Go! https://t.co/voSFLVhznq

— Patricia Moon (@nobledreamer16) February 4, 2016

 
Over the past few years the sheet distributed by the Obama 2008 team has been discussed here with regard to Supporting Americans Abroad (or rather, how it did not support them). Yesterday, Democrats Abroad released a set of questions and answers put to their Presidential Candidates. I thought it might be interesting to review what Mr. Obama said/did while contemplating whether there would be any improvement in the situation for expats based upon the statements of Mrs. Clinton and Mr. Sanders.
 

Mr. Obama

What He Said: Strengthen Economic Security for Americans Abroad

…he will work with Americans abroad to identify and understand problems they may face as a result of U.S. government policies.

What He Delivered: Closure of Bank Accounts; Inability to obtain/renew mortgages

What He Said: Census of Americans Abroad

What He Delivered: Nada

What He Said: Concerns of Americans Living Abroad

As president, Obama will work to establish a direct dialogue with Americans abroad.

What He Delivered: we are “Tax Cheats” “Traitors” “Don’t Pay Our Fair Share” oh, and not to forget, we must report our everyday bank accounts to FINCEN and endure considerable terror tactics used to try and get us to enter “amnesty” programs designed for criminals

What He Said: Other Governmental Services and Benefits

…..ensure that U.S. State Department staff members have proper training to assist Americans abroad in determining their various rights and responsibilities as American citizens

What He Delivered: OVDP/OVDI FATCA Form 8938 Renunciation Fee Raised 422%

 
So with those thoughts in mind, here are the questions that Democrats Abroad prepared and presented to Mrs. Clinton, Mr. Sanders and a Mr.Rocky De La Fuente.

Continue reading →