Americans Abroad

I read Democrats Abroad on FATCA and then the responses. There seemed be a disconnect between the authors of the report and all the responders. There was some discussion of the value of property. There the suggestion that DA missed the boat by not recommending RBT (Not a rabbit but residence based taxing.

ExPats have been arguing since the Revolution for RBT and it's a nifty idea that won;t change in anyone's lifetime. So, while it's fun to kvetch about land prices and tilt at long-standing windmills. no one is actually doing anything:except

Rather, I would look at the one sensible thing in the DA proposals that could solve all our FATCA problems.Simply redefine an offshore account to be an account that is outside both the US and your country of residence.

With this redefinition the land you buy or the bank account you open in the country in which you've lived for the past 20 years would not fall into FATCA's clutches.

Now there's a bandwagon to jump on