|Quoting arrow (Reply 58):|
Have I got a deal for you. We'll take Cruz off your hands (he'd be completely marginalized up here any way as soon as he opened his mouth on health care) and you can throw Obama in under "future considerations." You have to take Rob Ford and guarantee he'll never get closer than 100 km to the Canadian border.
We want to keep Ted Cruz down here! Although FATCA was signed by Obama 8 months before Ted Cruz was elected Senator, he is a vocal opponent of this law and still is to this day. I know, I know, I know, you're getting your information about him through the filters of a biased media that doesn't like him anyway. That's Ok because his obligation is to represent his state of Texas.
Keep bashing him but he is actually on your side
fighting for you're wife's freedom from our tyrannical IRS.
|Quoting arrow (Reply 59):|
If you want a good run down on what FATCA and the US citizenship-based tax policy is going to do for any US citizen who lives abroad, read this woman's horror story. The sad thing is, there are thousands of these stories out there.
Thanks for posting that link. That made me sick to my stomach.
|Quoting Arrow (Reply 43):|
There are about 7 million U.S. expats all over the globe, and most of them don't actually pay any US tax -- they just have to file tax returns and foreign bank account reports. That, unfortunately, is not in any way simple and ends up costing them thousands every year in accounting fees -- just to prove to the IRS they don't owe any money. And if they screw up, the fines are draconian. A mistake on a simple annual FBAR report can lead to a fine of 50% of the value of the account.
I missed this post earlier. I know a guy here in Bangkok that had to spend $50 per page
to send notarized tax documents to the US. He had to send 14 pages...
|Quoting Arrow (Reply 43):|
Amen to that; and because of the impending application of FATCA, the renunciation stats have skyrocketed in the last couple of years. But the US now imposes an exit tax on any departing citizen with a net worth of $2 million or more. Unfortunately, that $2 million -- sounds pretty high doesn't it? -- includes things like the payout value of your company pension and of course your house. It doesn't take long for the average middle class guy to hit $2 million. When the Soviet Union tried to do this in the 60s, Congress passed sanctions against them for attempting to keep their citizens as prisoners. The USSR's exit tax was 10%, the US is 30%.
So true. In fact, for the first time in US history, the number of Americans giving up citizenship has skyrocketed and each passing year exceeds the previous year.
We're losing a lot of smart business-minded people and that includes Tina Turner.
She is an American success story. She grew up poor in the segregated south. She rose to success because of her
talents. No government handouts or anything. She has gone through a LOT in life and had so many odds stacked against her. Also worth considering, her career spanned 4 decades but didn't have that
many hits yet managed to spend her money wisely. She made it happen. Now the government wants to punish her.
It's no wonder she turned down Oprah's solicitation to endorse Obama. Tina Turner begrudgingly went along with it after Caroline Kennedy asked her to do it.
|Quoting SmittyOne (Reply 62):|
Despite all of its flaws (some of them pretty substantial) there are literally billions of people on this planet who would love to be a US citizen.
Yep, many of them criminal or just freeloaders. Many people in developing nations are seeing that the US isn't the place to immigrate to anymore. They now only see it as a place with great Universities and then go back to their home country and have a fulfilling career and high paying job. As a result, their economies are growing. Some have dual citizenship. In fact, Thailand and many other developing nations are not going to 'rat out' their people to Obama's IRS - even if they have dual citizenship. Same thing in Malaysia, The Philippines, Indonesia, China, India, Mexico, Brazil, etc.
|Quoting FlyingSicilian (Reply 60):|
I was under the impression Carter turned down the USSS protection. Is that not the case? Just curious.
According to Wikipedia Richard Nixon relinquished his Secret Service protection in 1985, the only president to do so.
Obama signed legislation back in January of this year reinstating lifetime Secret Service protection for himself, George W. Bush, and all subsequent presidents. Therefore Kiwirob's comment about Bush the "idiot" getting killed in 10 years (his words) is unlikely to happen.
|Quoting KiwiRob (Reply 55):|
I'd like him to stand trial for war crimes along with all the other hawks in office during his time and rot in gaol for the rest of his life. But I do think someone will kill him, there are plenty of pissed off Iraqis out there who lost family and friends due to Bush's insane war and they have plenty of motive to do it.
I guess you feel the same about the Nobel Peace Price winner Barack Obama because of his drone strikes that have killed many families. Right?
[Edited 2013-11-20 02:57:42]