Confirmation from Massachusetts @SenWarren that the Democrats are happy to destroy #Americansabroad

https://www.facebook.com/groups/AmericanExpatriates/permalink/440934592739285/

From Elizabeth Warren who should know better. We need to deluge her.

Dear Donnalane,

Thank you for contacting me to share what happened to you while trying to obtain financial services overseas and your concerns about the Foreign Account Tax Compliance Act (FATCA).

As you may know, President Barack Obama signed FATCA into law on March 18, 2010 as part of the Hiring Incentives to Restore Employment (HIRE) Act. The purpose of FATCA is to prevent overseas tax evasion by U.S. persons holding assets in offshore accounts. Under the statute, U.S. taxpayers must report their foreign assets to the Internal Revenue Service (IRS) if the total value exceeds $50,000 and certain foreign financial institutions — such as mutual funds and banks — must report annually on the accounts held by their U.S. clients.

I recognize that FATCA implementation has not been perfect, and it troubles me that financial institutions overseas would deny services to Americans out of concern over FATCA compliance. However, according to the U.S. Senate Permanent Subcommittee on Investigations, the U.S. Treasury may be losing more than $100 billion in tax revenues every year as a result of offshore tax havens. I believe measures like FATCA clamp down on overseas tax evasion and help make sure that everyone pays their fair share of taxes.

Thank you again for your input and for sharing your story about what happened to you personally. I will be sure to keep your thoughts and story in mind.

Sincerely,
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4 people like this.

Marina Mecl It is hopeless and renouncing seems to be the only option left.
6 hrs · Like · 1
Daniel Kuettel Aaaaargh! As long as she is not throwing herself under the bus, then no problem exists
5 hrs · Like · 1
Chez Hagi Marina, hang in there. I have already renounced, but there is always hope. Bigger bridges have been crossed.
5 hrs · Like
Melissa Pfeffer she is an expert on these matters. i am surprised that her official position is to not acknowledge how this is an imperfect solution (at the most generous).
5 hrs · Like
Peter W. Dunn Why should Elizabeth Warren know better? Who is Elizabeth Warren?
5 hrs · Like
James Wattengel I received the same letter overnight, sigh
5 hrs · Like
Melissa Pfeffer peter, you can google! but here is her wiki page. http://en.wikipedia.org/wiki/Elizabeth_Warren
Elizabeth Warren – Wikipedia, the free encyclopedia
Elizabeth Ann Warren[2] (née Herring; born June 22,…
en.wikipedia.org
5 hrs · Like
Michael Hickey Hey! I realize that people may be losing their bank accounts and all, but who cares? We’re losing $100+ B a year! That’s what’s important!

Just about sums it up, huh? To hell with people’s lives. I want my money!…See More
5 hrs · Edited · Like · 3
Peter W. Dunn Melissa Pfeffer, I realize that Elizabeth Warren is a politician in the United States and perhaps even the heir-apparent of BHO. But my question remains: “Who is Elizabeth Warren that she should know better?”

One should never put one’s faith in Washin…See More
5 hrs · Like
Marina Mecl She should pay Oklahoma state taxes if she believes in citizen-based taxation!
5 hrs · Like · 2
Marina Mecl She’s representing Massachusetts! Doesn’t sound very patriotic to me that she’s not representing her home state….
4 hrs · Like
James Wattengel The $100B WAG was admitted to have no basis in actual facts or analysis.
4 hrs · Like · 3
Peter W. Dunn Michael Hickey, exactly right. Elizabeth Warren’s comment is designed to create voters from the recipients of the largesse of Washington. When their food stamps or welfare cheques leave them in a meagre state, the politicians will blame innocent expat…See More
4 hrs · Like · 1
Peter W. Dunn Yeah, James Wattengel, it’s just a number that they pull out of their ass.
4 hrs · Like · 1
Michael Hickey …..and when you’re in a position to make up a number, you’re bound to do so in order to further your own self interest.
4 hrs · Like · 1
Michael Hickey Indeed, if Congress and POTUS were doing their jobs, rather than jerking the people around, (like how demagogues do) then people there might actually have jobs to look forward to, rather than food stamps, frustration, and anger. A ripe base to pool from when you’re also looking for an easy scapegoat – like us.
1 hr · Edited · Like
Tricia Moon Probably just a staffer who wrote that letter…
1 hr · Like · 3

What an absolute moron. Keep the renunciations of U.S. citizenship coming!

 

 

 

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One thought on “Confirmation from Massachusetts @SenWarren that the Democrats are happy to destroy #Americansabroad

  1. recalcitrantexpat

    I would’ve expected better of her given her ability to understand the major structural issues that existed in the U.S. financial system and which led to the financial crisis of 2008. Unfortunately though she is also ignorant of the fact that it is only one’s account holdings with the U.S. Treasury that makes your dollars taxable by the IRS and NOT one’s citizenship or status as a U.S. person.

    Reply

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