Tag Archives: Joe Green

Only @Demsbroad take these Stepford Wives seriously

The above tweet references a comment at the Isaac Brock Society that is deserving of its own post.

Continue reading

Advertisements

The best thing Joe Green and Democrats Abroad could do is encourage all Democrats to vote for Romney

This is a response to the  email from Professor Green.

Dear Professor Green:

U.S. citizens abroad – Democrats, Republicans and Independents – thank you for the “FBAR/FATCA Task Force” and we note with gratitude that:

Your FBAR/FATCA Task Force has been working steadily to seek relief for overseas Americans facing onerous tax reporting burdens.

Furthermore, your six proposals would be welcomed by U.S. citizens abroad – to be specific:

  • 1. Define a foreign or offshore account as an account in a country other than one’s country of residence or the US, thereby recognizing the legitimate need for local banking services;
  • 2. Raise the FATCA reporting threshold to $1 million to put the focus on taxpayers with wealth sizeable enough to justify the costly and complex investment structures normally used to conceal assessable earnings;
  • 3. Index the reporting threshold to inflation so that it goes up every year just as the Section 911 income exclusion does;
  • 4. Add a provision that excuses anyone who does not owe taxes (because of the Section 911 exclusion or any other exemption or a tax treaty) from the obligation to file form 8938, regardless of the threshold reporting;
  • 5. Merge the FBAR reporting requirement with the developing FATCA legislation to eliminate duplication in filings; and
  • 6. Offer amnesty to overseas Americans who are delinquent taxpayers, inviting them to pay what they may owe and restore their status as tax-compliant citizens. (See our opening remarks for our success in this area.)

That said, your proposals are merely an attempt to improve the conditions of the prison of citizenship-based taxation.  You are essentially just accepting the ideas of citizenship-based taxation, FATCA, FBAR and the rest. Gotta be in prison anyway. Why not put the effort into getting along better with the guards! Continue reading