THE NEW AMERICAN DREAM FOR EVERGREEN COLORADO REAL ESTATE INVESTORS
The new American Dream is that Uncle Sam can tax away all the wealth of U.S. millionaires. The new Foreign Account Tax Compliance Act (Fatca) is taxing American millionaires out of their money and ultimately out of their citizenship.
The new draconian law amply demonstrates the greedy desire to confiscate the wealth of all Americans. The law requires financial institutions around the world to spy on their American customers and report the confidential information to the IRS. Most companies have declined to treat their customers like criminals and violate their privacy rights, so they have cordially asked their American clients to close their accounts. Many Investment providers said the costs to implement the new regulation is prohibitive. Americans will now have far fewer opportunities to earn returns and accumulate capital in the international markets.
Some countries have balked at the idea of becoming IRS conspirators and are arranging to run all American transactions through government owned banks which are exempt from the regulations. China itself has hinted that it will simply tell all its banks not to comply. The gluttonous Federal bureaucrats have over reached their authority and foreign enterprises are refusing to be subject to the piggish arm of the IRS.
Other wealthy Americans are reading the tea leafs. Almost 1800 of the wealthiest Americans have renounced their citizenship and repatriated to friendlier shores. The attitude of American is changing. We are no longer a people who have a government but a government that owns its people. The vicious nasty hostility of the government towards its citizens is alarming many people. Our forefathers and mothers migrated from countries where individual freedom was trumped by government greed. The new U.S. Government is a hostile adversary greedily grasping at every penny its citizens have. Everyone is presumed to be a criminal, presumed to be a tax cheat, is presumed to be a piggy bank for the bureaucracy, is presumed to be first a taxable asset rather than an American citizen.
The Superstate is becoming embolden. The Feds resent the money you own; and are conniving to tax away every dollar of income and every source of wealth that you possess. Wake up America, all these laws are touted as a tax against millionaires but in reality are designed to tax away the resources of the middle class. All the millionaires could not fund the Federal Government for one week; the big money is in the pockets of middle America. It’s your foreign 401(k) that the Feds are drooling over, its your foreign mutual fund the Feds want to tax away, its your foreign stocks and bonds the Feds have in their sights.
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