In the most comprehensive and detailed take-down I’ve yet seen of the Obama administration’s destructive FATCA law, Herman Bouma offers “11 Reasons Why FATCA Must Be Repealed.” Bouma is a Senior Tax Counsel at Buchanan Ingersoll & Rooney…
Daily Analysis
FATCA Opposition Spans Ideological Spectrum
Burdens created by the Foreign Account Tax Compliance Act, particularly on Americans living abroad, are so obviously unjust that they are now raising the ire of more than just those of us ideologically and philosophically opposed to large government. Writing for…
Hong Kong Stands Up to FATCA Menace
The chief executive of Hong Kong’s Securities and Futures Commission is warning against allowing US and European fiscal imperialism in Asia. The boss of Hong Kong’s financial watchdog has called for the authorities to take a greater role in global regulatory…
Rallying Support in the Fight Against FATCA
CF&P is not backing down in the fight against FATCA. With so many insiders and special interests counseling for institutions and nations to just roll over and accept a raw deal, it would be easy to think the fight was already lost. But it’s no fait accompli…
Can Treasury Con 50 Countries Into Relinquishing Their Fiscal Sovereignty?
Fresh off new delays in its implementation of the disastrous FATCA legislation, the Treasury Department has announced that it is in discussions with more than 50 countries to sign bilateral agreements…
Swiss Bank Disclaimer: Americans Not Welcome
The price of American citizenship only seems to get costlier – and I’m not just talking about high taxes. For Americans living or working overseas, excessive US regulations are becoming a disruptive burden, as exemplified by this disclaimer from Swiss PKB…
Obama Has United the World…in Opposition to Bad U.S. Tax Policy
Last year, I came up with a saying that “Bad Government Policy Begets More Bad Government Policy” and labeled it “Mitchell’s Law” during a bout of narcissism. There are lots of examples of this phenomenon, such as the misguided War on Drugs being a precursor to…
FATCA Hurting Us Now
Peter Dunn, warning of the many issues with the Foreign Account Tax Compliance Act, has written a great article at American Thinker called “FATCA: A Ticking Time Bomb for the Economy.” Lawmakers clearly need to reconsider the law and its accompanying…
Taiwanese Banks Pulling Billions Out of US Over FATCA Legislation
As CF&P has consistently warned, the Foreign Account Tax Compliance Act passed last year is driving foreign investment out of the US, which means less capital investment for the economy and thus fewer jobs for Americans. A group of Taiwanese banks fed up with the…
FATCA Law is Self-Destructing Fiscal Protectionism
I recently co-authored with Dan Mitchell an article in the Swiss magazine Schweizer Monat explaining the many problems with the Foreign Account Tax Compliance Act (FATCA), and the schizophrenic nature of US tax policy in general. The key points: The rationale behind…