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Monday, February 08, 2016

Record Number Give Up U.S. Citizenship, Green Cards – U.S. Treasury

Expats - or Exiles are cautioned to consider very carefully giving up their citizenship as it may affect Social Security and retirement benefits depending on the country of residence  

RT
02/07/2016

For the third year in a row the number of people renouncing their citizenship or abandoning green cards has beaten the record set the previous year, US Treasury Department data reveal. The surge is likely the result of stringent US tax policy. 


A record-breaking 4,279 individuals decided to call it quits with the US in 2015 in comparison to 3,415 people the previous year, according to a US Treasury report released on Friday.

The list of individuals deciding to expatriate is published on a quarterly basis by the Internal Revenue Service. The latest one contains the names of 1,058 US citizens and permanent residents that gave up their passports in the period from September to December.



The underlying cause behind the massive increase in renunciations is believed to be the Foreign Accounts Tax Compliance Act (FATCA), which came into force in 2010. The law imposes harsh penalties for non-compliance, even if people aren’t dodging it on purpose, Andrew Mitchel, an international lawyer who analyzes IRS data, told the Wall Street Journal.

“An increasing number of Americans appear to believe that having a US passport or long-term residency isn’t worth the hassle and cost of complying with US tax laws,” he said.


At the time, President Obama hailed the law as a “global standard” in countering tax evasion. It was passed by Congress in the wake of a scandal involving UBS AG bank, following disclosures made by banker–turned-whistleblower Bradley Birkenfeld in 2009.


He testified that UBS had enabled its American customers to defraud the US tax authorities. The revelations forced UBS to admit it had encouraged illegal financial activity and was obliged to pay a staggering $547 million to settle the case.

The probe resulted in a US government clampdown on banks. The bankers were requested to unveil any information concerning US citizens’ accounts abroad. More than 180,000 banks complied with the government’s demands. The encroachment on foreign banks prompted many of them to scrap business with Americans living abroad, causing some US citizens overseas to give up their passports.




Since the law has come into effect, US authorities have collected $13.5 billion from foreign banking institutions and Americans in taxes and penalties.

The United States is the only nation within the Organization for Economic Cooperation and Development that subjects its citizens to taxes irrespective of their place of residence.



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ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

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Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

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The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

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STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

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Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

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We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

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By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

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UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

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THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

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The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

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By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

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