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I firmly believe this country’s best days are behind it and the quality of life is about to experience an unprecedented, permanent decline.
However, at least at this time, I cannot think of better options. I don’t plan to wipe out my savings and net worth fleeing to another country. If widespread violence and homelessness start to interfere significantly with my daily life, I will reconsider.
that would be a No. Obviously you don't know what law got enacted that affected US citizens overseas.
Can you give me the statute? It must have something to do with money-laundering or tax-avoidance. Things which foreign banks are often used to funnel money. I'm going to assume there was some kind of compliance issue for the Portuguese bank.
I'm afraid my medical condition keeps me from answering. When I reached adulthood, the organ that made me feel I had to justify my decisions to strangers completely atrophied.
Haha---very funny/sarcasm.
IOW, you want the ability to cut and run if the going gets tough, correct?
Can you give me the statute? It must have something to do with money-laundering or tax-avoidance. Things which foreign banks are often used to funnel money. I'm going to assume there was some kind of compliance issue for the Portuguese bank.
Assume away ....the USG can never be wrong and US Citizens with money are always the bad guy.
I am not going to debate with someone who doesn't know the law.
Can you give me the statute? It must have something to do with money-laundering or tax-avoidance. Things which foreign banks are often used to funnel money. I'm going to assume there was some kind of compliance issue for the Portuguese bank.
My cousin is not a money launderer and wasn't avoiding any taxes. She's not wealthy by any means.
Can you give me the statute? It must have something to do with money-laundering or tax-avoidance. Things which foreign banks are often used to funnel money. I'm going to assume there was some kind of compliance issue for the Portuguese bank.
The law's purpose is to track money overseas to avoid issues like you describe. The effect, though, for Mr. and Mrs. Norman Normal, is just hassle and paperwork. And the banks hate having to report that yes, there's a checking account with the equivalent of $1197.23.
IOW, you want the ability to cut and run if the going gets tough, correct?
Want? I have it. You think US citizenship would do anything to that?
I'm fine, though. We'll see if the urge to travel kicks in again. And if I do leave, I'll have put more in Uncle Sam's pocket than 90% of red-blooded American tax-payers, so I'm not going to pretend I'll have a crisis of conscience over it.
My cousin is not a money launderer and wasn't avoiding any taxes. She's not wealthy by any means.
Look, I'm not defending the US government, and I never called anyone a money-launder or tax-dodger. I'm saying that the United States government retains the right to tax incomes made by its citizens, regardless of where they are domiciled, or where they earned their income. In order to enforce this, it needs to be able to access its citizen's bank records, anywhere in the world. The United States pressured European banks to comply with US banking regulations on American nationals living abroad, even those with so-called dual-citizenship.
I'm not sure why you're making a big deal about it. The real purpose of my original post was to remind the OP that the people who still live in this country aren't going anywhere. And that even if people hated the country enough to want to renounce their citizenship, that isn't an option for the vast majority of people.
If people don't like what is going on in this country they have only two choices, seize power, or secede.
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