This is a very interesting video from AARO about their recent trip to Washington. Note the part at the end where they talk (NOT about renouncing U.S. citizenship) but about the fact that the renunciations are being noticed in DC.
The Globe has a really nice description of this here.
The Globe and Mail includes it’s daily “A moment in time”. On March 21, 2014, the Globe noted that on March 21, 1970, the song “American Woman” was released as a single. Along with the picture it included:
We live in FATCAesque times. FATCA is many things.
FATCA is the end of financial and human privacy.
FATCA is the means by which the U.S., by using it’s Trojan Horse soldiers (U.S. citizens abroad) intends to confiscate a portion of the GDP of other countries.
FATCA is, for lawyers and accountants the “gift that just keeps on giving”.
FATCA is responsible for the creation of new industries.
In short, FATCA is “a small step for man, but a large step for mankind”!
In a recent post, “Before You Say ‘I Do’: Options for British-American Couples“, London based, U.S. immigration lawyer, Susan McFadden explores different ways the future spouse can move to the U.S. This is of interest to a large number of people. She assumes a U.K. citizen wishing to marry a U.S. citizen and move to the U.S. Although this may make “emotional sense”, it may make no sense once the euphoria wears off.
Marriage between those who are not “one of US” and U.S. citizens needs to be considered from the perspective of what it means to be married to a U.S. citizen. Much has been written on the effects of direct U.S. taxation, FBAR and other IRS requirements. These are a gross violation of the sanctity of the family during the marriage. In some cases, it may be the “straw that breaks the marital back“. But, what about divorce? How do the tax laws apply to a marriage where one partner is NOT a U.S. citizen?
Those who have thought about citizenship-based taxation and the way it affects U.S. citizens abroad understand it to be a form of life control. It is certainly a “fiscal prison”. But, it is much more. Under the guise of citizenship-based taxation the U.S. claims the right to interfere with, define and control the family. In fact the most important party in the family of any U.S. citizen abroad is the U.S. government.
U.S. tax laws operate to:
– make it more difficult for U.S. citizens to marry non-citizens; and
– make U.S. citizens very unattractive as marriage partners.
I suggest that these laws in their intention and application constitute a massive human rights violation against U.S. citizens in general and U.S. citizens abroad in particular. Furthermore, they are one more example of the truth about citizenship-based taxation.
Citizenship-based taxation is NOT about taxation. It is about life control!
(Interestingly, in his book “The Audacity of Hope” Senator Obama discussed the importance of marriage in society.)
“The best way to get ahead financially is to be part of a married couple in which both partners have a college degree and a career.”
This was an interesting excerpt an article that first appeared in an article in Bloomberg View. The effect of marriage on financial stability is enormous. Marriages can either be financially advantageous or can lead to financial disaster.
That said, the reporting requirements of FATCA and FBAR have a huge impact on a non-U.S. citizen who is either married to or is considering marriage to an expat U.S. citizen. In a marriage many bank accounts and assets are owned and managed jointly. Imagine the following situation: Continue reading