Tuesday, November 11, 2014

I understand






A letter I wrote to R. Harvey the professor at Villanova University that helped craft the FATCA law. And yes, I am still angry, even though I try not to be.


I understand that you helped craft the FATCA law.

Thank you. Because of you I am no longer American. I had to chose between my birth country and having a bank account. A horrible decision.

I am sure there are others who will thank you for their divorces.

The costs are incredible and I'm sure they'll exceed whatever the US takes in. http://theexpatwriter.blogspot.ch/2011/12/one-of-saddest-days.html

Whenever a group of expats get together it is not if they'll renounce it is when. Most are middle class earning between $50,000-100,000 a year. They've been denied bank accounts, credit cards, debit cards, etc. All have fulfilled their tax obligations to the US which in itself is unfair, especially when they are double taxed on pensions, SS, etc.

Others have suffered because their spouses don't want their financial affairs to go to the US since it never touched US shores.

Supposing you were born in a different state? Maine for example. Would you want every cent you ever earned be subject to Maine taxes while you are paying taxes where you now live? Would you like your local banks to deny you services because you were born in Maine? And Maine banks won't serve you because you don't live in Maine.

This law has damaged hundreds and thousands of law abiding citizens.

I won't be nasty and wish terrible things on you, although it would be tempting. It will be enough if you realise the horrible, horrible damage you've done to your fellow citizens

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