FATCA repeal introduced to the house of reps

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papageno
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Re: FATCA repeal introduced to the house of reps

Post by papageno » Tue Nov 29, 2016 11:37 am

Look deeper. Depending on what sources one chooses to believe, FATCA is the precedent for GATCA, the G standing for "Global";the plan by the globalists is to eliminate all tax havens and implement global taxation. To what end? So that the banksters can steal what's left after their massive thefts over the last few years. The reason? All in the name of stopping global warming. After all, global problems require global solutions. Thus global taxation.
The hand you really smell behind this is almost certainly that ofGeorge Soros. He sees trump and the Republicans as a serious threat to undo his agenda, hence the rush by his hired minions to push these things through in the time remaining.

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Re: FATCA repeal introduced to the house of reps

Post by admin » Tue Nov 29, 2016 11:58 am

Will the U.S. be blacklisted as a tax haven?
http://www.newsmax.com/Finance/Kleinfel ... id/759922/

There is an attempt in EU to have the U.S. added to the tax haven list.
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seawolf180
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Re: FATCA repeal introduced to the house of reps

Post by seawolf180 » Tue Nov 29, 2016 1:09 pm

papageno wrote:Look deeper. Depending on what sources one chooses to believe, FATCA is the precedent for GATCA, the G standing for "Global";the plan by the globalists is to eliminate all tax havens and implement global taxation. To what end? So that the banksters can steal what's left after their massive thefts over the last few years. The reason? All in the name of stopping global warming. After all, global problems require global solutions. Thus global taxation.
The hand you really smell behind this is almost certainly that ofGeorge Soros. He sees trump and the Republicans as a serious threat to undo his agenda, hence the rush by his hired minions to push these things through in the time remaining.
You'd think with all his wealth Soros would get an eye job.
They look like a couple of female genitalia.
Don't Tread On Me Either.

papageno
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Re: FATCA repeal introduced to the house of reps

Post by papageno » Tue Nov 29, 2016 1:29 pm

admin wrote:Will the U.S. be blacklisted as a tax haven?
http://www.newsmax.com/Finance/Kleinfel ... id/759922/

There is an attempt in EU to have the U.S. added to the tax haven list.
Yeah, the US wants to trap it's own citizen's money within it's borders, while throwing the door wide open to foreign investors. Think maybe the bankster's lobbyists wrote those laws?

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Re: FATCA repeal introduced to the house of reps

Post by Andres » Tue Nov 29, 2016 4:58 pm

admin wrote:The shear effort and emphasis that is being placed on all this by the Obama administration and the Democrats in the 11th hour is beyond strange, just to squeeze a little bit more tax money from a few more Americans.
Is it about the money, or about the control?
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Re: FATCA repeal introduced to the house of reps

Post by admin » Wed Nov 30, 2016 6:45 am

It is obviously about the control, because they are not making that much money. The IRS claims 10 billion dollars has been collected. When numbers were broken down, something like 9 billion of that was in penalties, not taxes. Still, the cost of implementing it was many times much higher, and all the low hanging fruit (e.g. all the American clients at UBS in one go) have been squeezed dry. I would suspected dramatically diminishing returns going forward if FATCA continues, as those they did not catch have gone to ground and everyone else has shifted assets accordingly to comply without paying. The only ones they will get any money from will be those that are still unaware, small fry, high costs expats.
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Andres
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Re: FATCA repeal introduced to the house of reps

Post by Andres » Wed Nov 30, 2016 7:40 am

QED
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I accept chaos. I'm not sure whether it accepts me.

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eeuunikkeiexpat
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Re: FATCA repeal introduced to the house of reps

Post by eeuunikkeiexpat » Wed Nov 30, 2016 11:22 am

Correct, they should be going after the "too big to tax" individuals (like the billionaire multi-citizens who pay officials to exclude or write loopholes for them), corporations, trusts, partnerships etc.

Schedule B also needs to be modified and FBAR canned.
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Re: FATCA repeal introduced to the house of reps

Post by admin » Thu Dec 01, 2016 12:41 pm

Get ready for a lot more of this:
https://www.bloomberg.com/news/articles ... u-s-assets

Credit Suisee has frozen accounts, and is hunting for Americans in their bank that they think the missed. Phone numbers, signatures on powers of attorney, etc.
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MJSaywell
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Re: FATCA repeal introduced to the house of reps

Post by MJSaywell » Fri Dec 02, 2016 6:37 pm

Well looks like the are moving on immigration here in Chile , and are going to reform it. Like all things this govt seems to do their hand has been forced now. http://www.emol.com/noticias/Nacional/2 ... greso.html

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Re: FATCA repeal introduced to the house of reps

Post by admin » Sat Dec 03, 2016 10:50 am

MJSaywell wrote:Well looks like the are moving on immigration here in Chile , and are going to reform it. Like all things this govt seems to do their hand has been forced now. http://www.emol.com/noticias/Nacional/2 ... greso.html
yea, I started another thread on the immigration reform topic here:

http://www.allchile.net/chileforum/view ... 11&t=14213
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Insight Into IRS Approach to Offshore Evasion

Post by JHyre » Thu Dec 08, 2016 12:51 pm

Fascinating (for me anyway) story of tax evasion, banker marketing info to governments for personal profit and disappearing, along with some insight into how the IRS goes after offshore evasion. For the more technically minded, the linked articles are very good. In particular, one of those articles in turn links to a PDF of an IRS agent's rather thorough report on how the IRS views offshore evasion, and why it needed (and received) broad powers to go after it. I tried to attach a PDF of that report, but it was too big, I can email it for those who are interested.

It could also be that my concept of "fun" reading is warped. To skip the initial tax jargon, scroll down about 20% of the way to the Greenfield story, just past the "Greenfield decision".

http://procedurallytaxing.com/grinches- ... mons-tale/

John Hyre

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