Home
Blog
Radio
Missing Persons
Crime
April 24, 2024, 06:13:11 AM
Welcome,
Guest
. Please
login
or
register
.
1 Hour
1 Day
1 Week
1 Month
Forever
Login with username, password and session length
News
:
NEW CHILD BOARD CREATED IN THE POLITICAL SECTION FOR THE 2016 ELECTION
Home
Help
Login
Register
Scared Monkeys Discussion Forum
>
Current Events and Musings
>
Political Forum
> Topic:
Offshore Bank Accounts v. Mexican Drug Profits
Pages:
1
Go Down
« previous
next »
Print
Author
Topic: Offshore Bank Accounts v. Mexican Drug Profits (Read 1284 times)
0 Members and 1 Guest are viewing this topic.
WhiskeyGirl
Monkey All Star Jr.
Offline
Posts: 7754
Offshore Bank Accounts v. Mexican Drug Profits
«
on:
April 21, 2010, 05:37:28 AM »
Quote
For U.S. citizens, cutting ties with their native land is a drastic and irrevocable step. But as Overseas American Week, a lobbying effort by expatriate-advocacy groups, convenes in Washington this week, it's one that an increasing number of American expats are willing to take. According to government records, 502 expatriates renounced U.S. citizenship or permanent residency in the fourth quarter of 2009 — more than double the number of expatriations in all of 2008. And these figures don't include the hundreds — some experts say thousands — of applications languishing in various U.S. consulates and embassies around the world, waiting to be processed. While a small number of Americans hand in their passports each year for political reasons, the new surge in permanent expatriations is mainly because of taxes.
Considering that an estimated 3 million to 6 million Americans reside abroad, the number of renouncements is small. But expatriate organizations say the recent increase reflects a growing dissatisfaction with the way the U.S. government treats its expats and their money: the U.S. is the only industrialized nation that taxes its overseas citizens, subjecting them to taxation in both their country of citizenship and country of residence. (See "U.S. vs. UBS: A Fight Over Secret Swiss Bank Accounts.")
"Their income and wealth are generated largely outside the U.S., so why does the U.S. get a slice of that?" says Phil Hodgen, a California-based international tax attorney who helps Americans in the expatriation process. "More and more people see no long-term benefit to retaining U.S. citizenship."
Additionally, the U.S. government has implemented tougher rules requiring expatriates to report any foreign bank accounts exceeding $10,000, with stiff financial penalties for noncompliance. "This system is widely perceived as overly complex with multiple opportunities for accidental mistakes, and life-altering penalties for inadvertent failures," Hodgen says.
These stringent measures were put into place to prevent Americans from stashing undeclared assets in offshore banks, but they also make life increasingly difficult for millions of law-abiding expatriates. "The U.S. government creates conflict and abuses me," says business owner John. "I feel under duress to understand and comply with laws that have nothing to do with me and are constantly changing — almost never in my favor." (See the best business deals of 2009.)
John says that since he moved to Europe 25 years ago, U.S. tax regulations have become more and more burdensome. "Every time I turn around, I get smacked in the face with some new restriction as a result of being a U.S. citizen abroad," he says. And because the U.S. government requires other countries to abide by its banking and financial rules when dealing with expatriates, Americans living abroad are often denied services because of the increasingly complex legalities and logistics involved in serving U.S. customers. Many U.S. expats report being turned away by banks and other institutions in their countries of residence only because they are American, according to American Citizens Abroad (ACA), a Geneva-based worldwide advocacy group for expatriate U.S. citizens.
"We have become toxic citizens," says ACA founder Andy Sundberg. Paradoxically, by relinquishing their U.S. citizenship, expats can not only escape the financial burden of double taxation, but also strengthen the U.S. economy, he says, adding, "It will become much easier for these people to get a job abroad, and to set up, own and operate private companies that can promote American exports."
Read more:
http://www.time.com/time/world/article/0,8599,1983238,00.html?xid=rss-topstories#ixzz0lj3sY5J8
Bill Clinton talks a lot about the Tea Parties and violence.
What about the border violence? All the money that goes untaxed?
How much money goes to Mexico, SA, and other places due to drugs? Why isn't the Obama administration making sure those folks pay their fair share?
Why isn't Obama doing something about the violence?
Aren't American lives important?
Logged
All my posts are just my humble opinions. Please take with a grain of salt.
It doesn't do any good to hate anyone,
they'll end up in your family anyway...
Pages:
1
Go Up
Print
Scared Monkeys Discussion Forum
>
Current Events and Musings
>
Political Forum
> Topic:
Offshore Bank Accounts v. Mexican Drug Profits
« previous
next »
Jump to:
Please select a destination:
-----------------------------
FORUM RULES
-----------------------------
=> Forum Rules and Tips
-----------------------------
Polls, Polls and more Polls
-----------------------------
=> Missing Persons Polls
=> Current Events/News Polls
=> Crime and Trial Polls
=> Just For Fun Polls
-----------------------------
Missing Persons - High Profile
-----------------------------
=> Missing Persons High Profile
===> Dylan Redwine, 13yrs old, last seen 11/19/12, Vallecito, CO
===> Kyron Horman - Portland Oregon
===> Caylee Marie Anthony - Florida (BODY FOUND)
=====> Caylee's Law - by State
=======> Caylee's Law - text
=======> ALABAMA
=======> ALASKA
=======> ARIZONA
=======> ARKANSAS
=======> CALIFORNIA
=======> COLORADO
=======> CONNECTICUT
=======> DELAWARE
=======> DISTRICT OF COLUMBIA
=======> FLORIDA
=======> GEORGIA
=======> HAWAII
=======> IDAHO
=======> ILLINOIS
=======> INDIANA
=======> IOWA
=======> KANSAS
=======> KENTUCKY
=======> LOUISIANA
=======> MAINE
=======> MARYLAND
=======> MASSACHUSETTS
=======> MICHIGAN
=======> MINNESOTA
=======> MISSISSIPPI
=======> MISSOURI
=======> MONTANA
=======> NEBRASKA
=======> NEVADA
=======> NEW HAMPSHIRE
=======> NEW JERSEY
=======> NEW MEXICO
=======> NEW YORK
=======> NORTH CAROLINA
=======> NORTH DAKOTA
=======> OHIO
=======> OKLAHOMA
=======> OREGON
=======> PENNSYLVANIA
=======> PUERTO RICO
=======> RHODE ISLAND
=======> SOUTH CAROLINA
=======> SOUTH DAKOTA
=======> TENNESSEE
=======> TEXAS
=======> UTAH
=======> VERMONT
=======> VIRGINIA
=======> WASHINGTON
=======> WEST VIRGINIA
=======> WISCONSIN
=======> WYOMING
=====> Caylee Marie Anthony Murder Trial Archives
===> Sierra Lamar, 15yrs old, Morgan Hill, CA Missing Since March 16, 2012
===> JO ANN (JODIE) BAIN AND 3 DAUGHTERS MISSING 4/27/2012(2 murdered 2 safe)
===> Isabel Mercedes Celis, 6 yrs old missing 4/21/12 Tucson, AZ (Body Found)
===> Jennifer Kesse - Orlando/Ocoee, Florida
===> Susan Powell 28yrs old, missing 12/6/09 West Valley City, Utah
===> Michelle Loree Parker, Last Seen 11/17/11, Orlando, FL
===> Celina Cass, 11yrs old missing 7/25/11 New Hampshire
===> Aliayah Lunsford, 3yrs old, Weston, West VA, missing since 9/24/2011
===> Lisa Irwin, 10mo old missing since 10/4/2011 KC, MO
===> Robyn Gardner missing in Aruba August 2, 2011
=> Missing Persons - High Profile - Archives
-----------------------------
Virginia Area Missing and Murdered - possible connections
-----------------------------
=> Morgan Dana Harrington, 20yrs missing VA Tech 10/17/09(BODY FOUND)
=> Hannah Elizabeth Graham missing since 9/13/14 Charlottesville, VA
=> Alexis Murphy, missing since 8/3/13 Charlottesville, VA
=> Samantha Ann Clarke 19yrs. old Orange Va. Last seen 09/13/10
=> Dashad Sage Smith missing since 11/20/12 Charlottesville, VA
=> Cassandra Morton 23, Lynchburg, missing 10/10/09 body found 11/29/09
-----------------------------
High Profile Crimes and Trials (not missing persons)
-----------------------------
=> Jodi Arias trial - for the murder of Travis Alexander
=> Trial of George Zimmerman - 2nd Degree Murder of 17yr old Trayvon Martin
=> Scott Peterson Appeal of Murder Conviction
-----------------------------
Missing, Exploited and True Crime
-----------------------------
=> Missing Exploited and True Crime
===> Missing Persons Forum
=====> Missing Found or Presumed Deceased
=====> Missing Found Safe
=====> Missing Endangered Runaways
=====> Resourses, Search Groups and Fundraisers
===> Crimes Against Children, Elderly and the Disabled
===> Crimes of Passion/Anger
===> Serial Killers and Their Possible Victims
===> Unsolved Crimes
=====> Finally Solved
===> Haleigh Marie Cummings - Florida
===> Adji Desir - Florida
===> Somer Renee Thompson 7 yo, Orange Park FL 10/19/09(BODY FOUND)
===> Tracy Ocasio - Orlando/Ocoee, Florida
===> Shaniya Nicole Davis, 5 Fayetteville, NC Missing 11/10/09(BODY FOUND)
===> Holly Bobo, 20yrs old missing Parsons, TN 4/13/11
===> Hailey Dunn - 13yrs old - Colorado City, TX missing 12/27/10 (Body Found)
===> Elizabeth Olten - 9yrs, Jefferson City, MO missing 10/21/09 (BODY FOUND)
===> Lindsey Baum - McCleary, WA 6/26/09
===> Amber Leeanne Dubois 14yrs old - Escondido, CA(BODY FOUND)
===> Chelsea King, 17, Missing 2-25-2010 Rancho Bernadino CA (BODY FOUND)
===> Sandra Cantu, 8 years old - Tracy, CA(BODY FOUND)
===> Madeleine McCann - Portugal
===> Christine Marie Sheddy - missing since 11/13/2007 - Maryland(BODY FOUND)
===> Nevaeh Amyah Buchanan 5yr Monroe Michigan(BODY FOUND)
===> Gabriel Johnson 8 mo., last seen 12/26/09 Tempe AZ-San Antonio TX
===> Stacy Ann Peterson missing & Kathleen Savio murdered - Illinois
===> Zahra Clare Baker - 10yrs old Hickory, NC (Body Found)
-----------------------------
Natalee Holloway
-----------------------------
=> Natalee Holloway
=> Important Case Documents
===> Joran Statements/PV's
===> Paulus Statements/PV's
===> Deepak Statements/PV's
===> Satish Statements/PV's
===> Misc Statements/PV's
=> LCD Archive
=> Shango/Simian and other Codetalkers
-----------------------------
Current Events and Musings
-----------------------------
=> Monkey Musings / Open Discussion
=> Pop Culture Main
===> Hugely Popular TV Shows
===> Movies and Television
===> Social Media
===> Music
===> Books
===> Scared Monkeys Radio with Dana Pretzer
=> Health and Medical Issues
=> Food and Product Recalls
=> News of the Day
=> Business News
=> Sports
=> Political Forum
=> Religion (discussion and debate)
-----------------------------
The Monkey Lounge
-----------------------------
=> The Monkey Lounge
===> Fashion & Decorating
===> What's Cooking? Recipes
===> Games
=> Inspirational
===> Memorial - Gone but Never Forgotten
===> Gratefulness - Light a Candle in Prayer
===> Inspirational scriptures, songs, stories and prayers
-----------------------------
Natalee Discussions (2005 ARCHIVE)
-----------------------------
=> Natalee Holloway
=> Theory and Speculation
=> Links and References Only
=> Natalee Breaking News Archive
-----------------------------
General Discussions (2005 ARCHIVE)
-----------------------------
=> News Issues
=> Chit Chat
Loading...