I received this from Just Me:
ML,
First of all I am sure you have already seen the spat of stories about the VDP, so won’t belabor it here.. However, earlier today I found some other interesting comments /stories which are below. I conclude with something I posted at the WSJ.
[Just Me]
A recurring theme with FATCA is that Americans living in America simply don’t care about the problems the act creates for Americans living abroad. But maybe they should…
Hat tip: johnpg
Just Me sent me the following two notes:
In looking back to President Carter’s amnesty of Viet Nam War draft dodgers, I have a profound sense that he made the right decision. His presidential pardon set free hundreds of thousands from the fear of prosecution. Andrew Glass at the Politico wrote the following:
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:
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.
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.
This post is also on the RenounceUScitizenship site.
Yesterday I wrote a post describing why FBAR and FATCA will make U.S. born children unadoptable. After all, they carry with them U.S. tax filing and reporting obligations. The general toxicity of U.S. citizenship is such that non-U.S. citizens will NOT wish to risk financial involvement with U.S. citizens. Here is another example.
There are many Canadians supporting the Florida economy, as well as that of Arizona and other USA winter retreats !!!
