Forum Menu - Click/Swipe to open
 
Top Members

Americans giving up citizenship due to tax laws

You have contributed 0.0% of this topic

Thread Tools
Appreciate
Topic Appreciation
abu mohammed
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#1 [Permalink] Posted on 18th August 2015 20:46
It's no secret that Britain and America's war "of" terror on Earth has their expenses on foreign business ventures sky rocketing and keeping them constantly in serious debt.

So taxing the arms and legs of citizens in their own country, they eventually turned to expats living abroad. I mean they've not left anyone alone.

Business owners are requested by banks (who are pretty much threatened at gun-point with sanctions) to submit information which pretty have nothing to do with them. I don't know the ins and outs but FATCA (Foreign Account Tax Compliance Act) was initially proposed to clamp down on tax evaders who hold assets abroad in offshore accounts. But it's turned ugly, unjust, somewhat unlawful according to their own privacy acts and due to all this, 2015 has seen the highest rise in citizens giving up their citizenship.

People working hard to secure assets for family and they have to choose to dump a huge portion of it year after year into the federal reserves or secure their loved ones financially. Naturally, the brave ones chose thei family over the threats of this greedy unjust government.

I don't think it's long before UK follows the footsteps. I hope the British people don't let this happen.

So for those who gave up citizenship in favour of truth, their human rights to own what they earn with their blood and swear, Bravo and I salute you guys.
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#2 [Permalink] Posted on 18th August 2015 20:47


Many Americans living abroad complain about the U.S. tax system requiring worldwide income reporting, plus offshore bank account and financial reporting. The penalties for failing to comply are massive. There are big civil penalties that can exceed the offshore account balances, with even criminal liability a possibility. Many expats complain that the IRS has never understood Americans living abroad and applies rules unfairly.

With global tax reporting and FATCA, the list of those who renounce keeps growing. There is good reason to believe that the published list is incomplete and that many aren’t counted. Many now find America’s global income tax compliance and disclosure laws inconvenient, even oppressive. U.S. persons living in foreign countries must report and pay tax where they live

Source
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#3 [Permalink] Posted on 18th August 2015 20:48
Apparently a violation of human rights was also submitted to the UN

Quote:
Thank you Mr. Wood for telling the unimaginable story of what the US is unleashing on its very own sons and daughters that have simply found work or love abroad.

It is interesting that once the name and shame list was regarding the people that renounced. It has now become a name and shame list exposing the unprecedented shameful activities of the US government.

Citizenship is a right. The US government is FORCING these people to give up this right in order to financially survive. Being forced to choose between your citizenship and protecting your family is just simply morally wrong and unjust.

A violation of human rights against the US has been submitted to the UN regarding this issue. 
http://isaacbrocksociety.ca/2014/07/28/human-rights-complaint-on-behalf-of-all-u-s-persons-abroad-has-now-been-submitted/
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#4 [Permalink] Posted on 18th August 2015 20:50
Quote:
US Taxation Without Representation, FATCA, & CBT dishonors all those who gave their lives for that belief.
Any US persons living overseas caught up in these injustices must visit the message boards of The Isaac Brock Society: isaacbrocksociety.ca/[/quote]

[quote]FATCA and FBAR are unconstitutional, so says www.fatcalegalaction.com
The Canadian FATCA violates the Canadian Charter of Rights and Freedom, so says www.adcs-adsc.ca/, backed up with legal action expected to reach the Canadian Supreme Court.
Research from Democrats Abroad indicates that FATCA is Anti-Family: blogs.angloinfo.com/us-tax/2014/09/19/thank-you-fatca-you...
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#5 [Permalink] Posted on 18th August 2015 20:52
Foreign banks are turning away American customers according to OP author.

Quote:
I believe the ‘banks don’t want US customers’ issue is larger than people think. Although most banks everywhere are forced to comply with FATCA, many still do not want Americans, and some flatly prohibit them. It may be that only the biggest and best accounts are taken, a kind of cost-benefit analysis that freezes out too many small ones[/quote]

[quote]And as for genocide, Americans abroad, particularly in Europe, are being ethnically cleansed from banks who just plain don't want Americans as account holders.
Americans are like radioactive material that comes with the threat of 30% in penalties for the entire bank
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#6 [Permalink] Posted on 18th August 2015 20:55
I'm taking these comments as their hidden online on the originating site. They are very informative comments and a harsh reality. Who own anything nowadays. It's like government owns everything. No one has real ownership

Quote:
What a sad commentary that neither the IRS, Treasury or the White House has taken the responsible approach to say ‘hey, there is a real problem here – we need to move to Residence Based Taxation like the rest of the world’. Instead, the reaction can best be interpreted as ‘don’t let the door hit you in the posterior on your way out and pay us the Exit Tax’. This is completely irresponsible behavior by the US Government. Certain lawmakers have raised their voice, but no one else in Congress (and particularly the Democrats) seems to care. Someday, this period may well be compared to Prohibition (another brainstorm idea of horribly bad policy). In the meantime, millions of law abiding US citizens’ lives who are living overseas and just trying to live a normal life like their non US citizen neighbors – will be put in the horrible position of having to renounce their US citizenship. Thank you, Mr. Woods, for your help in raising the awareness of this terrible state of affairs and I hope (but do not expect) this Administration listens and takes corrective action.
report post quote code quick quote reply
back to top
Rank Image
super-glue's avatar
Offline
Unspecified
809
Brother
1,539
super-glue's avatar
#7 [Permalink] Posted on 18th August 2015 20:56
I don't get this comment fully but it sounds awesome

CA-Oxonian wrote:
If the American government didn't regularly create incredibly stupid laws that impose all sorts of unnecessary costs on everyone around while achieving no beneficial effect whatsoever, how else would we know Congress had been in session? Remember, the US government has to remain primus inter pares in the Global Stupidity Association otherwise fragile self-esteem might plummet
report post quote code quick quote reply
back to top