This will do the opposite, destroy investment and employment opportunity.
What makes this especially horrid is that the Secretary can issue waivers to the political hacks/banks he selects. This is Chicago thuggism at its worse, enforced by the IRS and Treasury? No wonder the feds are worried about IRS security.
Talks about unconstututional. The freedon of movement of capital is now over. Just like that. Citizens must now decide whether to stay in the USA or follow their capital by reouncing US citizenship and leavingthe country.
Any one now believe we do not have fascists in control of government?
No greater blow could be made to destroy the US economy. This one is a killer.
OK, this is the first I have heard of this and excuse me of my lack of experience, but I am only 24. I do agree that if you give the government an inch, they will try to take a mile and this act could be laying the groundwork for the government to take more control. But from what I understand of this bill right here, it is designed to stop tax cheats like mafia bosses, gamblers, drug dealers and other money launderers. If you have properly paid your taxes, the government shouldn’t be able to stop you from investing abroad. Not only would that be un-Constitutional, but it would be a Protectionist move that should be illegal under the WTO.
The payments of bribes to the democrat party Permanent Government will be the only way to get waivers.
Australia is looking good about now.
I saw this and was wondering how this can be enforced if one simply takes stock shares, bearer bonds, gold coins or any other readily negotiable asset across the border.
RISE UP AMERICA!!!
LIFE IS TOO SWEET TO WASTE!!!!
CALL TO ARMS!!! ALERT THE MILITIA!
ONE IF BY LAND, TWO IF BY SEA!!! THREE IF BY SEDITION!!!
They’re on a spending spree with a maxed-out credit card and know they need to confiscate every source of cash they can. Witness the seizing of the student loan industry: now that “free money” interest is theirs for the general fund.
Fascism is here. I just now figured out the difference between communism and fascism: the former seizes private industry as a matter of principle; the latter out of financial desperation. Guess which we face now.
The commie hits just keep on comin’!
But I’m sure there’s someone out there who can help us in our denial by telling us “it’s happened before”, “it’s no big deal”, “we’re already doing something similar”, “we’ve faced worse”, yada, yada, yada.
This country is falling down the commie sh*thole and Americans are busy trying to act like nothing is happening.
Pathetic slaves in the making.
Wake up ya bunch of dumb-*sses—the commies are at the door.
“If you’ve got nothing to hide, you’ve got nothing to worry about.” ~The German People, 1933
Fortunately, I saved it and can post it here (the poster's screen name was something like three card sloth):
"I don't expect things to change for the better anymore. There is a reason behind the larger events and trends in today's world, and those who understand and follow that reason will not let things go in any other direction.
Do you think that the West's leaders suddenly became stupid, corrupt and/or venal in the last 50 years? No, there have always been good and bad in our capitals; today is no different.
Do you think that Japan suddenly forgot everything that built them before 1990, and just can't get it together nowadays? Doubtful.
So then, what's going on? Why are all of the advanced nations declining while jobs and wealth are funneled into the third world?
The answer begins July 16th, 1945. The Trinity test in New Mexico.
With the development of the a-bomb, and later the far more powerful h-bomb, the best and brightest who advise presidents and prime ministers came to a rather logical conclusion: In a world where a single device can destroy a city, we can't live in a world of "haves" and "have nots".
Knowledge and technology will not stay contained. The bright boys figured out that eventually, the ability to make these bombs would end up in the hands of the undeterable among us... those with nothing to lose. And then the world would start losing cities.
So they decided that the world would have to be re-engineered. We couldn't have anybody with nothing to lose anymore. At first, they tried bringing the bottom up. For two or three decades up until the 70's they tried to spread knowledge and skills to the third world, but this effort was largely futile, most of the lessons didn't take.
That left them with one choice -- bring the top down and the bottom up by directly transferring whole industries overseas. Hollow out the West (and the East if they grew too big like Japan) for the sake of humanity.
They obviously couldn't announce this agenda, the masses might object. But they sure got really good at selling the idea in Washington, London, Brussels, et al... 'cause every leader of every party starts following their plan as soon as they get any real power.
Why do you think that every Western nation keeps on exporting their jobs? Blind belief in free trade? Nah... insurance payment that (hopefully) will deter a future madman with a bomb.
Why do you think that every Western nation refuses to deal with their economic problems and growing deficits? Political logjams? A little, but mostly in the name of managed decline.
Why do you think that the leaders of every Western nation jumped onto the AGW bandwagon? A growing green awareness? Nah... wealth transfer and goodwill payments to the third world.
Why do you think that every Western nation suddenly decided to import millions from the third world? More labor? Nah... they are unwitting future human shields against aggression from their old countries.
I think this is the reason that the great global forced leveling is ongoing, and the reason no one seems to want to stop it: Fear.
Nothing but the potential death of millions can explain why leaders of every stripe abandon their beliefs, left, right, and center, as soon as they reach the top. None of them behave any different from the other, and convergences like this don't occur by accident. There is a goal, there is a plan, and it is seen by them as more important than your hopes, dreams, or living standards.
Nuclear blackmail and the deaths of millions is the only agenda I can see that's big enough, universal enough, to command such allegiance from our leaders."
This comment caught my eye because throughout this whole BO nightmare starting with all DC pols, SCOTUS, SOS in all the states, etc. ignored Obama's lack of bona fides, his czars and on and on and I have wondered what in the hell could have scared or corrupted all of them who, by ignoring it, have dumped us in the sh#t.
Luckily there is another reference to the above post on another web site forum; a "MRBIGMUTTS" who is commenting on this same article you posted and is urging everyone to read the guy's comments so he saw it, too.
VERY ODD that it is gone. What's your take on this?
P.S. Husband and I (I am American) are not in US and are getting contacted by wealthy Americans about buying real estate in our area so the word is getting around now.
What do you want to bet that not one illegal will be affected by this, only Americans.
In short, Obama invested almost exclusively in Tax Exempt instruments AND mostly in foreign investment accounts. In fact a number you can glean from the bowels of his tax return is that he made approximately $176.000 in foreign dividends that were untaxed by the U.S. government.
It seems he is the one during the campaign that said the "wealthy" weren't paying their fair share and that big ugly republicans are exporting jobs. He was guilty of both in the first year he had to make discretionary investment decisions.
1 : any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2 a : a system of society or group living in which there is no private property b : a system or condition of society in which the means of production are owned and controlled by the state
3 : a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done
Boy, am I glad I left when I did, and I hope I never have to return. Also - there is still a 10 year tax liability even after renouncing US citizenship (don’t know how that’s legal.)
Basically the US cannot stop encouraging its citizens to flee to greener pastures overseas and never look back, and sure as hell not leave any assets in the US where they can be seized.
BFLR
A very Rat thing to do.
bump