Expecting FATCA forced euthanasia, the US expat & diaspora community is able to write its own obituary. Having suffered the disease of citizenship-based-taxation and the FBAR blood-letting of the Financial Crimes Enforcement Network for their entire lives, FATCA is the final forced Euthanasia. The administration has attempted with OVDP amputations of the diaspora body—chopping away 27.5% of the diaspora’s disease-ridden bodies, but it has been to no avail. When FATCA kicks in during fall 2015, the end will begin.
You see, only US persons suffer from the disease of taxation by their home country—no matter where they live in the world. No other nation does this to its citizens and persons. The symptoms of this disease are significantly higher accounting costs, higher employment costs, and a number of unique taxations upon retirement funds, unemployment benefits, and US health care taxation.
US persons are assumed to be committing a crime if they have lived outside of USA. Hence, each year, they must report their savings accounts, retirement accounts, college-saving accounts, and other instruments back to US FInancial Crimes Enforcement Network (FINCEN), on a Form called FBAR. If the reports are not received yearly on the Financial Crimes internet site, these persons are assumed guilty, without statute of limitations. A US person must not only report on his own personal financial details, he must also report the details of his corporation, spouse, or sports club—if that US person is a volunteer treasurer or international executive. The fines for not reporting in begin at $10,000 per violation, and go up to 300% of everything that suspicious US person owns, or even up to 300% of what that corporation owns!. You see, US Citizens cannot be trusted to live outside USA. that’s why they must report to the FInancial Crimes Enforcement Network.
During the last few years, due to other developments with treating bad people that live in USA, the USA learned that it could possibly treat these diseases with a clemency called Offshore Voluntary Disclosure Program (OVDP). This is essentially an amputation of 27.5% of the asset of the US person. This was effective for innately criminal people in USA who were truly a problem and truly criminals—those criminals are now leading fully productive lives after having amputated their criminal portions.
However, that same OVDP amputation treatment has been offered to benign persons outside of USA who have no criminal tainting. A large number of US citizens indeed have been through that amputation ( http://1.usa.gov/1ksmLJG ). Some of those who have chosen those amputations are persons who simply caught the US/person disease by having been born in USA.
This final FATCA disease is hitting now. Banks all over the world have been tasked to flushing out all US persons where-ever they live, and storing their private financial data. In the fall of 2015, this data will be sent to USA.
In 2015, the USA will begin processing that data, and begin implementing the FBAR fines according to the Financial Crime Enforcement Network rules. The fines could be $10,000, or they could be 300% of everything these US persons owned. Penalty Liens will go out to those persons, and the US will begin to collect upon those liens using any and all means possible: revoking passports, using collection agencies where these persons live, denying entry to these persons at the US border. However. The details of these programs have been in discussion and are nearly ready for implementation. This FATCA is essentially a final Euthanasia of these tainted US persons. Having the IRS bankrupt the US expat / diaspora population is essentially active Euthanasia.
To date, there is a small quantity of persons who have exorcized themselves of this US person. The lucky ones are here ( http://1.usa.gov/1ah3XU1 ) However, since this personhood lies in 7 million+ persons with no visible symptoms, there is little that one can do without knowledge.
Let’s remember them for what the media & Congress has been saying about them:
“They are all rich! Right. The population of US persons overseas has the same breadth of background as do homelanders. Congress, the administration, and the media have had a full blitz propaganda campaign out to smear its own US expat 7 diaspora population.
“They are all evading taxes” Right. More than 80% live in high-tax locations such as Canada, France, Finland, Australia. They already pay much higher taxes than what they would in the Homeland.
“They get all the services of USA!. Right. They get all their services locally-healthcare, infrastructure, and all. US consulate services (emergency evac, passport printing,etc) are all performed for a fee—the consulate system is one of the few profit centers in the US government. The only time that the USA has come in to “save” its citizens was during the invasion of Granada–and that threat was, uh, that threat was, uh, what was that threat again?
“The US army protects them” Right. They live in western countries where they have armies. Do their neighbors also pay USA for USA protection? The only time that the USA has come in to “save” its citizens was during the invasion of Granada–and that threat was, uh, that threat was, uh, what was that threat again?
Let’s remember them for what the administration wants from them.
The US listed debt is $17 trillion. US “unfunded liabilities” are estimated over $85 billion, for example ca. $15 trillion for social security and $30 trillion for medicare..
Even with this disease of taxation, more than 80% of US citizens overseas owe no legitimate tax to USA. However, the USA still wants 100’s of pieces of paper from each one of them, filling out an unintelligible stack of IRS forms each year.
What the USA wants is its “tax up” portion. It wants money for things that have not yet been taxed, or not taxed enough. If a US person is working in a low tax country, the US wants the difference in taxes for USA. So, if the US person is working as a contractor in Qatar serving the oil industry, he’s not taxed in Qatar but he’s taxed up by USA. This doesn’t happen to a German, it happens uniquely to a US citizen. (Obviously the oil industry is much more interested in hiring less-expensive non-US person employees).
Let’s remember them for what they did
The US expat community used to be a corps of citizen ambassadors. Not any more.
The US expat community were boots-on-the-ground for US businesses. Many were franchised and many were employed to represent US businesses and sell products overseas. Not any more. Now it will be persons of other countries.
The US expat community were naturally favored to order US products and services from the homeland in their jobs. Not anymore. Knowing what they know about the disease USA is bringing to them, many of them have lost that tendency.
The actions of US persons abroad had been contributing positively to the US trade balance. In fact, the only way for US trade to function was to have US persons out in the world. But not anymore. The US trade went negative in 1976 when the first instances of this disease hit the expat population.
Please, let’s keep a warm appreciation for what USA’s expat / diaspora community had done. This community is coming to its end. Please read this obituary prior to it happening
The final Euthanasia of USA’s expat / diaspora community
As 2015 ends, so will begin the beginning of the end for most of USA’s expat & diaspora community. A very few will be saved. Of course, those that have exorcised their US personhood have been freed from it (that is, unless Congress passes more legislation to further go after them). There has existed a very small number of people (less than 300,000 of the 7 million +) who had known that they should have been registering themselves as Financial Criminals with FinCen. That small number will be saved.
Oops, forgot to mention the Homeland!
We haven’t yet discussed the population of legal and productive dual citizen immigrants inside USA–they have the same disease lurking in their bodies and they also do not know it—they will suffer the same fate.
ALL RIGHTS RESERVED
ALL REVERENCE DESERVED
Message to the Homelanders: Whoaaa. You guys are really up on things! “Democratic” Underground censored me, here is a copy-paste of what they didn’t want you to see:
1209 North Orange Street in Wilmington, Delaware. According to one investigation, that address is home to 217,000 corporations . Google it. The Vice President, whose home is in Delaware, does not want competition for the business of his home state. That’s why he has started this hype.
If he was worried about Mitt Romney, why did the president hire Jack Lew as Secretary of the Treasury?
The majority leader of the house (Senator Harry Reid fromNevada), he doesn’t want any competition, either
Here is the profile of the man chosen to lead the US Treasury Department (chosen by the amateur president)—a real clean guy?
Offshore? Try South Dakota
And, just to show that it is a bipartisan effort, google “Wyoming” and “beneficial owner”
Keep the faith! the Amateur-in-charge is the savior of change.