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Call to Action: Possible FATCA hearing

Must listen: Suzanne Iclef Herman discusses a possible Congressional hearing in regard to FATCA. Call to action for all to contact their Congressperson.

Our interview with CNBC

Over the last few months, I have been exchanging with Lorie Konish, a journalist of CNBC. From the questions that she was asking me, it seemed that Lorie wanted to get two things on the record. 1) Real people perspective on CBT, 2) her facts straight.

FATCA Developments in Europe

Karen Alpert from Fix the Tax Treaty offers some excellent insight on the EU petition to address issues with FATCA.

For the first time, Americans overseas are united against FATCA, Double Taxation, and Government overreach

Many Americans abroad are just finding out about the legislation, enforcement tactics, non-represented national treaties (IGAs), tax treaties that impact your life, and a compliance industry that is making a fortune out of us. Many have written letters to Congress, only to receive an answer that has nothing to do with our situation or not get an answer at all. Some non-elected bureaucrat makes life-changing decisions on rather or not our pension that we are required to pay locally will be double taxed or penalized. Some bureaucrat makes decisions on rather or not your local social benefits are “passive income” and double-taxed. Many of us are facing financial ruin, just for being American. We are forced to maneuver two non-related tax systems. We have no privacy, FATCA has killed that and caused massive local discrimination. We certainly do not have freedom or a government that represents us. What is worse, either the people who are doing this do not understand or, worse, do not care. The well-documented problems that our Government is causing are being written off as “unintended consequences.”

The tax cheating rich people “Fat Cats” that the US Government says that it wants to catch are either in the US or have already avoided being caught. Therefore, because the US Government is not catching enough “tax cheats” or enough penalty or fine revenue, some think that the laws are not tight enough. So some are proposing even making it worse. As soon as Americans begin to organize, the partisans jump in and deflect our unity. It does not matter if you support the current President or if you are a Democrat or Republican, conservative or liberal. Neither party has represented us. Our Government has failed us like no other group of Americans. We cannot hide from this anymore.

No other country in the world treats its expat citizens like this. Not Russia, China, North Korea, Syria... Despite the hype, being American and living abroad means that you will be punished, your children will be punished, your non-American Spouse will be punished, your business will be punished. Your career will be limited. All because of Citizen Based Taxation that was designed to punish Americans overseas during the Civil War.

The Purple Expat
We do not know if our efforts will be worthwhile. The system is against us. But for any American citizen living abroad and planning to live abroad for longer period of time, you can either fight or renounce your citizenship. As you will find out, complacency will ruin you. Join us in the fight.

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