“Every socialist and fascist regime in history has put up walls to prevent flight by people and capital. This is why people and capital are flying now, while they still can. In so doing, they are inspired by the writings of the American revolutionaries. The difference is that they have decided that living in the land of the free and the home of the brave means not being a slave of the US government.”There is a reason why many countries disallow dual citizenship. The US takes citizenship much more seriously than any country on this planet. Much of it is hubris and false patriotism, with a Hollywood approach that puts millions of stars and stripes flags on anything from fire trucks to front porches. But money has a lot to do with it.
The residual powers of the IRS are part and parcel of being an organ of an imperial power that is divided socially and falling apart economically. America needs more money every day to meet its appetite (and need) to stay on as an imperial power. This hunger is directly linked to the military and industrial complex that neither the Republicans nor the Democrats are willing to challenge. It’s the proverbial elephant in the room which is sucking up a huge portion of the annual budget.
Compounding this over the past two decades America’s financial wizards have stripped the country of the ability of its citizens to manufacture goods and services. These were sold to offshore interests along with the nation’s debt to the very same offshore competitors and adversaries.
Now the day of fiscal reckoning has arrived. Hence the US government regardless of which party is in charge will never change the rules that facilitate collection of revenue offshore. It’s an open secret in Washington that the US bureaucrats at the Treasury Department are busy creating new ones that will through various extra territorial financial rule and fees be a de facto tax on non US citizens around the world. If you don’t like that well they have saying south of the border – tell it to the Marines.
And to think this is the country the government wants Canada to sign a “perimeter security” (i.e. they extend their police state over us) with them. Meanwhile the banksters are laughing all the way to their Cayman Island branches marveling at how stupid the proles have become in turning on each other instead of focusing on the billions they are pocketing off the backs of the working class.
Don’t forget the Foreign Bank Account Report (Treas Form 90.22-1) every year. If you have a total bank account balance of over $10,000 in any year, you must report it. Bank accounts include brokerage accounts, RRSPs etc. There is an aggressive campaign to find non filers and heavy ad valorem penalties if you self disclose. But negligible enforcement staff for the really rich and their airplanes, and other dodges. Big bully to the South.
This story is one more example of our government gone mad. What should concern the U.S. government is UBS activities (large, unreported individual investment accounts), and corporations taking their money and jobs offshore. Instead, they are going after dual citizens who live outside the U.S. We feel very sorry for U.S. citizens who are in this position.
We came to the conclusion many years ago, that a citizenship is nothing more than an artificial identity & document acquiescing to indentured servitude to that country.
“The Federal Register, the government publication that records such decisions, shows that 502 expatriates gave up their U.S. citizenship or permanent residency status in the last quarter of 2009. That is a tiny portion of the 5.2 million Americans estimated by the State Department to be living abroad. ” Source: NY Times
If this doesn’t tell you about the value of an American citizenship, then nothing else will.