Posted on 04/03/2010 6:00:07 AM PDT by Candor7
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.
That is starting to look like the safer bet.
More Draconian Tax Law Ping
B U M P
0bama tax law abomination ping. What is your reaction? Is this analysis accurate? Will capital leave the US?
Maybe NOW would be a good time to look at how Mr. Dunham was never qualified to be POTUS in the first place so that every bill he signed into law can be rescinded.
“What makes this especially horrid is that the Secretary can issue waivers to the political hacks/banks he selects.”
Obama’s not a socialist: he’s a crony capitalist! As porkulus and health care reform have vividly illustrated, this administration has been shameless about using taxpayer resources to reward the cronies that brought them and plan to keep them in power. This new bill is reverse pay-to-play. Everyone is conscripted to play and then players are selectively released from their obligations to the degree they are willing to make alternative forms of payments such as campaign contributions or ‘in-kind’ services such as votes delivered or warm bodies to get out Democrat votes etc.
That’s Chicago politics. It’s what you might expect from Obama, Emanuel, and Axelrod.
REDISTRIBUTION OF WEALTH.
EVIL.
I mean every person who has worked and saved, now is playiing the foreign stock markets because that is where the drowth opportunities are.
The money made comes back to the USA and is spent and invested here.
Now only those with waivers from the Secretary ( who does not pay his taxes BTW) , party hacks, banks , and fascists will be able to invest this way.
Its not much wonder that oil commpanies are all moving their offices out of the USA.
Most of the fat cats saw this coming and have taken care of it.
This hits the private investor with stock market accounts in foreign jurisdictions. It forces him to be a criminal.
I believe the law is unconstitutional and draconian and virtually unenforceable.
It looks pretty accurate to me. This looks like something out of Uganda or Haiti ... control and confiscation of everyone’s overseas capital except for the rulers themselves and their favored cronies. An absolute abomination, as you wisely said.
What is one of the basics of all dictatorships, oppressive governments, etc.?
The prohibition of the movement of assets.
Just like that. Citizens must now decide whether to stay in the USA or follow their capital by reouncing US citizenship and leavingthe country.Good riddance. We're better off without these tax frauds, cheats and swindlers anyway.
How can they 'require' a foreign financial institution to close an account? (I know...I know...humor me)
Oh, come now, boys and girls. Yeah, I also get moments like this, depressed beyond reason as I watch my country devolve into a tyrannical thugocracy. But let's not forget one thing:
This is OUR country, it belongs to its people, NOT the temporary resident of the White House and his unelected Czars. They're here to serve US, not the other way around.
Yeah, they think they're holding all of the cards right now, with unconstitutional legislation rammed down our collective throat. But they forget a few things...
We outnumber them. In spades.
We're motivated. Highly motivated.
We're organizing. On a national level, not just in the "community".
We're dedicated to protect and preserve the Constitution. More so than those who are sworn into public office, and them immediately forget that sacred oath.
We've read Saul Alinsky. We're on to their tricks. And we can use them just as well.
We have faith. Unlike those who find ethics, morals, and the concept of right and wrong akin to Kryptonite, we're rock solid in our belief structure which will carry us through.
So before you go looking for a better country, don't forget that it's our job to first protect this one. And if it's broken, it's up to us to fix it.
November 10th is coming. Don't get impatient.
Does this mean that the money in my Canadian savings account, which was taxed by the IRS when I earned it, is now subject to an additional 30% tax when I withdraw funds?
No we are not. A lot of money is made and comes into the USA in this way.
Or are you just being sarcastic?
Ifthe money can;t leave the USA, ot won;t cpme here in the forst place, whinch, in case you have not noticed, is what is keeping the USD strong. People can come here from abriad, shelter their currency and the move it back.
The screws that royally.
By tax treaty. We have reciprocal enforcement treaties with most nations except a very few.
bump
The ante is now way up.
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