Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
NVIDIA THE KING OF THE METAVERSE! - 10th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
MATTERPORT (MTTR) - DIGITIZING THE REAL WORLD - METAVERSE INVESTING 2022 - 7th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
METAVERSE - NEW LIFE FOR SONY AGEING GAMING GIANT? - 6th Jan 2022
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Now The British Are Fleeing America

Politics / US Politics Nov 25, 2014 - 05:37 PM GMT

By: Jeff_Berwick

Politics

Remember when Americans fled Britain and the monarchy? Well, now the British are fleeing from America and its modern tyranny...

Take London Mayor Boris Johnson, for instance.

Johnson has been London’s mayor since 2008 and is even planning on running for Parliament.  His big mistake was being born in New York, though. Even though he moved at age 5, the US government wants him to pay capital gains taxes owed by American citizens earning income abroad.


Johnson has not been quiet about this perceived injustice. In 2006 he wrote a column in which he stated he was “getting a divorce from America” and would renounce his citizenship, writing “for years I have travelled exclusively on a British passport.” Johnson never did renounce, and he is probably regretting this now. As he told NPR,

“It is very hard but I will say this: the great United States of America does have some pretty tough rules, you know...You may not believe this but if you’re an American citizen, America exercises this incredible doctrine of global taxation, so that even though tax rates in the UK are far higher and I’m Mayor of London, I pay all my tax in the UK and so I pay a much higher proportion of my income in tax, that I would if I lived in America.”

He comes across as perplexed...

“The United States comes after me, would you believe it, for the - for capital gains tax on the sale of your first residence which is not taxable in Britain, but they’re trying to hit me with some bill, can you believe it?” Johnson rhetorically asked. If you’ve been reading the TDV Blog, then yes, perhaps you can believe it. Will the mayor ultimately pay the bill?

“Well, I’m - no, is the answer,” the mayor admits. “I think, it’s absolutely outrageous. Why should I?”

“I could but I pay -- I pay the lion's share of my tax, I pay my taxes to the full in the United Kingdom where I live and work,” Johnson added.

Johnson could renounce his citizenship, and if he did he would not be alone as increasing amounts of people renounce their  US citizenship. They’ve simply been left no choice.  As Robert Wood writes for Forbes, Johnson has already made some mistakes.

“When you exit you must certify five years of US tax compliance to the IRS. And any tax for the current or prior years must be paid. So, maybe Mayor Johnson should have renounced when he threatened to in 2006,” Wood wrote.

Approximately 2,353 Americans have renounced their citizenship since the start of 2014, and the current trend is on pace to shatter last year’s record-breaking statistic of 2,999.

FATCA OVERREACH

We have not heard the end of FATCA. In fact, the opposite is true. More stories will come in regarding the lives FATCA is destroying. It is already tearing families apart and impoverishing people abroad. 

We've already reported on a survey called "FATCA: Affecting Everyday Americans Every Day”, conducted by Democrats Abroad, in which many respondents stated they felt like "second class [citizens]" or even criminals because of FATCA. 

“I faithfully meet my tax obligations every year but this nonsense is forcing me to actually consider expatriation,” replied one respondent.

The details on what FATCA has done is stupefying. 

US citizens abroad report that they are not being promoted (5.6%) thanks to FATCA, and that employers don't want to deal with it at all so they are not hiring Americans. 

Americans abroad cannot open businesses.

“I cannot open a business without local partners and no one is foolish enough to go into business with an American given the privacy issues and the unwarranted access the IRS wants to their finances,” one respondent stated.

“[I was] told they did not want an ‘American person’ and refused to recognize my EU citizenship. Too costly, complicated and dangerous, they said,” another one added.

2% of respondents reported that relationships have even ended over FATCA.

“My German ex refused to marry an American because of filing requirements. So we split up,” said one expatriate.

“FATCA has caused enormous friction in my marriage. My non-US spouse is refusing to let the US government know about his salary/earnings/savings … and I therefore cannot fill out all the necessary paperwork. Moving to separate bank accounts would leave me very vulnerable as I have no income of my own and according to Belgian law would have no right to access my spouse’s accounts. It is very stressful to be so beholden to my husband as well as not in compliance with my own government,” an unemployed stay-at-home mother lamented.

TIME TO BREAK THE CYCLE

So, as you can see, FATCA is devastating individuals and families. Even politicians in other countries who had the great misfortune of being born an American are considering renouncing their US citizenship. 

There is hope, though. With TDV Wealth Management our experts can give you the tools you need to plan for your future and retirement in the post-FATCA world. All of our techniques and portfolios have been audited by experts and will increase your international exposure. This is fundamental to surviving The End Of The Monetary System As We Know It (TEOTMSAWKI). 

As some of you know, I have sworn off the United States. Never again will I go there! I find it too dangerous and creepy. 

So, if you still would like to see me speak, meet me and share some great conversation, then an upcoming conference in Cancun is the perfect solution.

From January 15th to 17th in Cancun, I'll be making a special surprise appearance at the Passport to Freedom conference in Cancun.

If you are interested in internationalization then the Passport to Freedom conference is the place to go.

It is three days jam packed with information on offshoring and internationalizing yourself (residencies, passports, expatriating) and your wealth (offshore companies, bank account, trusts, tax avoidance and investment strategies) and more. I highly recommend that Boris Johnson head down to Mexico for the conference. It will be much warmer than Britain, anyway. 

I will be talking about all our internationalization solutions including second passports, offshore banking and incorporation, self-directed IRA's and our FATCA proof internationalization solution for Americans that is the only 100% legal way to get around FATCA if you are an American who wants to internationalize.  Many of these solutions are new and haven't been announced publicly anywhere.

Instead of ending up like Boris Johnson - the totally unprepared London Mayor who now risks being thrown in a cage because he won't pay his taxes - be prepared. There are steps you can take TODAY to ensure your FREEDOM tomorrow. It's simple, really. 

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2014 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in