May 10, 201312 yr Popular Post Good for Senator Paul for taking a principled stand. It is a terribly flawed law and it will only serve to entrap the law abiding, while at the same time making them into financial pariahs globally. I don't know if he will succeed but I hope he does. It is increasingly clear to everyone that FATCA has almost nothing to do with curbing actual “tax evasion” and everything to do with massive unintended consequences that will lose money for the federal treasury. Tax evaders will not be self incriminating themselves. It will only be the law abiding that get caught up in the bureaucratic machinery that will suffer from this poorly thought out and implemented piece of legislation.
May 11, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh.
May 11, 201312 yr When I skimmed the headline I read it as "Senator Rand Pail Introduces Bill to Repeal FACTS". Presumed it was an article written for The Onion or some other publication.
May 11, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh.Very popular with the Unabomber crowd.
May 11, 201312 yr Author Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh.Very popular with the Unabomber crowd. Yosh You have morphed into the Henny Youngman of this forum trashing any thread you touch with your wealth of nothing Would be interesting to know if any of the last few posters are even Americans who deal with FATCA, FBAR etc. Actually who cares Also some of you might want to check your facts about FED & Gold standards as you may be confused, again, This is Rand Paul not Ron Paul, not that Ron Paul was ever really for a gold standard either not that it matters. But aside from that, what the heck difference would any of that make in regards to a bill proposing to do away with some useless paper weights? I think it is Sometimes Always better to add nothing to a thread when you have nothing to add.
May 11, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh.Very popular with the Unabomber crowd. Yosh You have morphed into the Henny Youngman of this forum Ba rump bump!
May 11, 201312 yr If the US has the right to do this, then every other country in the world has the right to do the same thing. How will it work, then, if every bank in the world has to send this information about every foreign customer to their government, which then has to send this information to the governments of all of the countries of their foreign customers? It would be a bureaucratic nightmare. Or more likely, banks around the world will simply stop taking foreign customers. And where will that leave those of us who choose to live and work in foreign countries?
May 11, 201312 yr Good for Senator Paul for taking a principled stand. It is a terribly flawed law and it will only serve to entrap the law abiding, while at the same time making them into financial pariahs globally. I don't know if he will succeed but I hope he does. It is increasingly clear to everyone that FATCA has almost nothing to do with curbing actual “tax evasion” and everything to do with massive unintended consequences that will lose money for the federal treasury. Tax evaders will not be self incriminating themselves. It will only be the law abiding that get caught up in the bureaucratic machinery that will suffer from this poorly thought out and implemented piece of legislation. my crystal ball says that this kind of FATCA will catch up with all of us non-Americans. to experience it we just have to live long enough because it's just a matter of time. most of you are not aware that the "tax data banking secrecy" dominoes are not only falling in Europe with exponential speed but it has started in far away places too.
May 11, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh. Well it doesn't mean he's 100% wrong on everything, just 99.9%, this issue being the rare event when he's correct. Nobody's perfect.
May 11, 201312 yr If the US has the right to do this, then every other country in the world has the right to do the same thing. How will it work, then, if every bank in the world has to send this information about every foreign customer to their government, which then has to send this information to the governments of all of the countries of their foreign customers? It would be a bureaucratic nightmare. Or more likely, banks around the world will simply stop taking foreign customers. And where will that leave those of us who choose to live and work in foreign countries? What you view as a burden on the banks they will probably regard as an opportunity. Once they figure out the cost of compliance, they'll add direct fees to affected customers of treble that amount and/or a % charge for every transaction (like many credit card companies now do) and/or hold your funds in limbo for several weeks during which time they have free use of them (as PayPal now does). Someone will probably make a bit of software that will do all the needful at little cost and trouble, but the banks will continue all of the above charges regardless. Subsequent glitches in said software will incorrectly target people who will then go on no-fly lists and who will be detained as airports, which will lead to increased departure taxes and airline service fees.
May 12, 201312 yr Suradit69, on 11 May 2013 - 21:45, said: CaptHaddock, on 11 May 2013 - 09:30, said: Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh. Well it doesn't mean he's 100% wrong on everything, just 99.9%, this issue being the rare event when he's correct. Nobody's perfect. Even a broken clock is right a couple times a day. He's an idiot.
May 12, 201312 yr Suradit69, on 11 May 2013 - 21:45, said: CaptHaddock, on 11 May 2013 - 09:30, said: Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh. Well it doesn't mean he's 100% wrong on everything, just 99.9%, this issue being the rare event when he's correct. Nobody's perfect. Even a broken clock is right a couple times a day. He's an idiot. Not an idiot - he's a libertarian. A different political philosophy from the Statism, Corporatism, Warism and trillion dollar a year deficit policies of the Republican and Democrat parties that you apparently feel comfortable with.
May 12, 201312 yr Rand Paul definitely has some libertarian views but he ran as a Republican and still is a Republican, not to imply that is good or bad.
May 12, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh. Yeah the only thing abolishing the Fed and going back on the gold standard would do is save America for being raped pillaged and burned by the corrupt criminal slimy bankers ...... boy we sure don't want that to happen now do we!!!
May 12, 201312 yr Paul also wants to abolish the Fed and put the US back on the gold standard. Uh-huh.Yeah the only thing abolishing the Fed and going back on the gold standard would do is save America for being raped pillaged and burned by the corrupt criminal slimy bankers ...... boy we sure don't want that to happen now do we!!!Your subtle grasp of the complexities of the US monetary system is impressive, in its way.
May 13, 201312 yr Some ideas please....Besides digging a hole and hiding cash or buying THAT BAHT GOLD...anyone know of a place to PARK cash besides a Thai Bank that soon will be report every cent over 10K? What about SET? any good ideas? In or out of Thailand doesn't matter. Sent from my GT-N7000 using Thaivisa Connect Thailand mobile app
Create an account or sign in to comment