Monthly Archives: December 2012

#FATCA – Freedom is never more than one generation away from extinction, so it must be the “road taken”

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Freedom is never more than one generation away from extinction

Ronald Reagan

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“The price for this freedom at times has been high, but we have never been unwilling to pay that price. … I do not believe in a fate that will fall us no matter what we do. I do believe in a fate that will fall on us if we do nothing.”

Ronald Reagan

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“But a Constitution of Government once changed from Freedom, can never be restored. Liberty, once lost, is lost forever.”

John Adams

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“When people fear their government, there is tyranny. When government fears the people there is liberty.”

Thomas Jefferson

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#FATCA and the Canadian Charter of Rights and Freedoms

Love him or hate him (and there was very little in between) former Canadian Prime Minister Pierre Trudeau left his mark on Canada. The Trudeau Liberals brought Canadians a set of entrenched constitutional rights. From April 1, 1982 the history of Canada was forever changed.

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Democrats Abroad are like The Stepford Wives

stepfordwives

The Stepford Wives is a 1972 satirical thriller novel by Ira Levin. The story concerns Joanna Eberhart, a photographer and young mother who begins to suspect that the frighteningly submissive housewives in her new idyllic Connecticut neighborhood may be robots created by their husbands.

 

Democrats Abroad is a frighteningly submissive group of automatons who believe it’s their job to carry on the work of the Democratic Party outside the United States. In their “robotic way” they believe in the “goodness” of the Democrats and ignore:

“FATCA, FBAR, OVDI, OVDP and the rest of the Treasury/IRS/HIRE/IGA alphabet-soup train wreck that is coming down the tracks to destroy the lives of U.S Persons abroad, and ultimately the homeland United States as well”.

They are, in their robotic way, completely asleep at the wheel and will be judged by their complete inaction in this matter. Continue reading

The Sun Life Betrayal Part 3 – Converting the non-willful into willful

This is my third post discussing the decision of Sun Life to throw its clients “under the IRS Bus”. The first two posts were:

Sun Life Prepares To Turn Clients Over To IRS for Processing – Bitter End to a company with a proud history

The Sun Life Betrayal Part 2 – The Possible Consequences of Pension Plans Being PFICs

Today I continue my discussion of the friendly message from Sun Life. Part of the message says: Continue reading

The Sun Life Betrayal Part 2 – The possible consequences of pension plans being PFICs

foxhunt

Prologue:

If you are a US citizen or permanent resident and have been living and working outside the US and investing your savings through a non-US financial institution, you need to learn what a Passive Foreign Investment Company (PFIC) is very quickly.

Why? Because the passage of the Foreign Account Tax Compliance Act (FATCA) in 2010 is ushering in a new era of dramatically heightened enforcement of US laws regarding taxation of and reporting on investments held outside the country by US Citizens or permanent residents

PFIC rules generally apply to investments held inside foreign pension funds, unless those pension plans are recognized by the US as “qualified” under the terms of a double-taxation treaty between the US and the host country.

If you don’t know what a PFIC is, here is PFIC 101.

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Sun Life prepares to turn clients over to IRS for processing – bitter end to a company with a proud history

 

[https://www.youtube.com/watch?v=rNtIDy78DdE]

 

Once upon a time there was a Canadian life insurance company. It’s name was Sun Life. Sun Life was founded  in 1865 in Montreal (predating Confederation by two years). It was a proud Canadian institution. It was in the business of protecting families. The story of Sun Life parallels the history of the world since 1865. It is an international company with a presence in most of the developed world. It saw itself as a “good corporate citizen”. During World War II the wealth of Great Britain was stored in the Sun Life building in Montreal. During World War II the company provided entertainment for Canadian troops abroad. After World War II it helped “protect” the middle class of North America. The name “Sun Life” meant “trust”. If you want to learn about Sun Life, review a bit of history and understand Sun Life’s important role in Canadian history, I urge you to watch the video history of Sun Life financial.

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US tax and penalty club makes US citizens risky to accept as immigrants

 

 

 

Why people are renouncing U.S. citizenship: Readers Digest Version

Nobledreamer’s comment to this article about renouncing U.S. citizenship is worth a post and that is exactly what this post is. One of  best descriptions of the problem I have seen. It’s in language and a format that anybody can understand it. Thanks! Continue reading

Liberty is the true casualty of war – James Madison: Dedicated to Ron Paul

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The U.S. is a world leader in forms, compliance and violating the sovereignty of other nations. This results in resentment, which leads to hatred of America, which leads to non-government sponsored violence (“terrorism”),  which has led to U.S. retaliation, which is called the “War on Terror”.

Why do people hate AmericaCongressman Ron Paul put this very well by saying: Continue reading

The second American revolution – Who are the Patriots?

munroetavern

Those of you have been to the Boston area will know that is is a museum to the American Revolution. In Lexington, Massachusetts there is a Museum called Munroe Tavern. After the tour, one can listen to a video documenting the start of the American Revolution. The video begins with the question:

“Who were the Patriots?”

Were the Patriots the oppressed colonists or were they those who were loyal to British Crown? There is a saying that:

“One man’s freedom fighter is another man’s terrorist.”

I am sure that both  sides (of what essentially was the first American Civil War) felt that they were Patriots. I am not sure what it means to be a Patriot. That said, I don’t believe that blind obedience to the laws of a nation makes one a Patriot. Blind obedience would make one a “law abiding citizen”. It would not make one a Patriot. Although Patriotism may include obedience to the laws of a country, obedience would not make one a patriot. Ron Paul in his campaign for President once said that the Patriot Act was not patriotic. Continue reading