giltner68 Posted June 19, 2014 Report Share Posted June 19, 2014 Somewhere I read they only estimated an $800M income from this and it was primarily to fund the Hiring bill which has long since come and gone. And the estimated cost to implement and track all this was in the billion$ so, it was a howling dog from the beginning as far as money, it was power. And If you're smart enough to have millions, you're smart enough to hire a guy to hide it which doesn't appear to be all that hard. We'll never know, but I'd bet they don't recover a single dollar from the "fat cats" while we're roasting on the spit. FBAR was implemented in 1970 to stop money laundering - super successful - right? Seen any "going of Biz" signs from the cartels lately? If you want to see how successful things like this are, research the tax on yachts back in the 80's - it totally decimated the entire boating industry in the US. If you're rich enough for a yacht, you're rich enough to go to Italy or Hong Kong, ask John Kerry. Link to comment Share on other sites More sharing options...
howardF Posted June 19, 2014 Report Share Posted June 19, 2014 This abusive legislation was passed and signed in 2010. Knowing this, it is pretty easy to figure out who is responsible for it. There isn't another country in the world that treats its citizens like this. Americans are being booted by banks all over the globe. Meantime, the Russians and Chinese and a number of other nations are not cooperating with it, allowing the mega rich to escape while the IRS, as usual, beats up on the little people. Perhaps this legislation became law during the current administration, but notice that it's Democrats Abroad that is leading the lobbying for change. Where are the Republicans? Link to comment Share on other sites More sharing options...
vetteforron Posted June 19, 2014 Report Share Posted June 19, 2014 The rich will always get richer. It's called the miracle of compounding. Link to comment Share on other sites More sharing options...
giltner68 Posted June 19, 2014 Report Share Posted June 19, 2014 Actually Howard, they're late to the party, many other groups have been fighting this for several years, but it's nice they noticed and joined in. Link to comment Share on other sites More sharing options...
Rony Posted June 19, 2014 Report Share Posted June 19, 2014 Which other side? Meanwhile, my spouse and I have started the process to become Mexican Citizens. Looking forward to having it sometime next year. Then, I'll be entitled to beetch about Mexican politics. Great idea.... and btw, looking forward to meeting you in person one day..... always love your posts. I am always surpised about the overwhelming interest, US or other countries' politics get here, among people who chose to spend the rest of their life here, while their very interesting, new home country has to remain in the back seat. And no......, if I can also say something about my own country politics for a change....., no, the rich do not necessarily have to become richer,...... of all the countries in the world, in a recent poll, Belgium has the smallest gap between rich and poor. Why is that ? No idea, and I am not interested, because I live in Mexico. a Gringal fan .... Rony Link to comment Share on other sites More sharing options...
gringal Posted June 19, 2014 Report Share Posted June 19, 2014 Great idea.... and btw, looking forward to meeting you in person one day..... always love your posts. I am always surpised about the overwhelming interest, US or other countries' politics get here, among people who chose to spend the rest of their life here, while their very interesting, new home country has to remain in the back seat. And no......, if I can also say something about my own country politics for a change....., no, the rich do not necessarily have to become richer,...... of all the countries in the world, in a recent poll, Belgium has the smallest gap between rich and poor. Why is that ? No idea, and I am not interested, because I live in Mexico. a Gringal fan .... Rony Thank you Rony. Actually, we have met.....at the American Legion sale some time ago. Smile. Link to comment Share on other sites More sharing options...
daisy2013 Posted June 20, 2014 Report Share Posted June 20, 2014 fm3 does not count at all. Ours took about 8 to 9 weeks and we did it ourselves. Yes you have to go to Mexico city for the federal constancia. Good luck Link to comment Share on other sites More sharing options...
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