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Americans Abroad

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riverbendviewgal

(4,349 posts)
Wed Nov 5, 2014, 01:32 PM Nov 2014

US expat tax law proves unfair intrusion [View all]

By harming expatriates' ability to establish small businesses or to put down roots in a foreign nation, FATCA harms both individual Americans and the larger interests of the US. In fact, FATCA is likely to cost the US more than it will ever gain, in both implementation costs and the permanent loss of the good will and assistance of the US expatriate community.

Citizenship-based taxation is an unjust and counterproductive policy. One merely has to ask what the US government's reaction would be if the UK or China demanded such unlimited access to US banking institutions in order to try to tax their citizens living in the US to understand just how obnoxious this policy is. Expatriates should only be liable for any income they have generated in the US, rather than income or assets in their current nation of residence.
In part, US anger at perceived British tax abuses sparked the Revolutionary War. It is ironic that similar anger at the unjust nature of FATCA is driving expatriate Americans away from the US

.http://www.globaltimes.cn/content/890215.shtml

also read this from Democratics Abroad . It is about those Americans Abroad who do vote.
https://www.democratsabroad.org/sites/default/files/2014%20FATCA%20Research%20%20Stories%20of%20FATCA%20-%20Affecting%20Everyday%20Americans%20Every%20Day.pdf



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