A “bed time story” explaining why FATCA does not matter in the least for those it was supposedly intended to target!
Once upon a time in America – a FATCA fairy tale …
There were some homelanders who didn’t pay their fair share!
Most of the taxes were paid by higher income earning homelanders!
Unless you were a “super wealthy” homelander in which case you could create your own special tax system and pay the lowest taxes of all!
Which created many revenue shortfalls, so Congress passed “Revenue Offsets” and set the IRS to hunt Americans abroad