Price to relinquish US citizenship hiked to match price to renounce US citizenship
Sep 29, 2015, 12:09 pm
#31
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If it wasn't meant to be a name and shame approach, then there would have been no push in Congress to mandate publishing the list.
Sep 30, 2015, 12:53 am
#32
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Could be a way for the local government or Social Security to deny benefits to specific persons or to put a "Deserter" tag next to their names. After all, local government and SS may not have access to Immigration databases. And SS mails checks without asking first, then they verify the claimant if need be.
Sep 30, 2015, 2:22 am
#33
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It's probably a little more than the name and shame approach.
Could be a way for the local government or Social Security to deny benefits to specific persons or to put a "Deserter" tag next to their names. After all, local government and SS may not have access to Immigration databases. And SS mails checks without asking first, then they verify the claimant if need be.
Could be a way for the local government or Social Security to deny benefits to specific persons or to put a "Deserter" tag next to their names. After all, local government and SS may not have access to Immigration databases. And SS mails checks without asking first, then they verify the claimant if need be.
Keep in mind that not everyone whose recognition of US citizenship status is undone is subject to publication of change in citizneship status.
Sep 30, 2015, 2:26 am
#34
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It's probably a little more than the name and shame approach.
Could be a way for the local government or Social Security to deny benefits to specific persons or to put a "Deserter" tag next to their names. After all, local government and SS may not have access to Immigration databases. And SS mails checks without asking first, then they verify the claimant if need be.
Could be a way for the local government or Social Security to deny benefits to specific persons or to put a "Deserter" tag next to their names. After all, local government and SS may not have access to Immigration databases. And SS mails checks without asking first, then they verify the claimant if need be.
Keep in mind that we don't publish a list of all living persons previously recognized as US citizens who were eventually noted as non-citizens. And yet legal entitlements arising from that status change do get put in place in the basically the same way.
Sep 30, 2015, 8:28 am
#35
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It's an attempt at discouragement. Occasionally a rich, famous, or rich and famous person will decide to renounce/relinquish. The hope is that the news media will pick up on this and run a hit piece to whip up some patriotic outrage amongst the hoi polloi.
The goal is to generate enough negative attention that the famous/wealthy person suffers, thus dissuading others who might be considering doing the same thing.
It's happened a few times.
The goal is to generate enough negative attention that the famous/wealthy person suffers, thus dissuading others who might be considering doing the same thing.
It's happened a few times.
Oct 1, 2015, 1:53 am
#36
Join Date: Sep 2012
Posts: 574
This situation has serious "positive feedback loop" potential.
They raise the fee, more people renounce, they raise the fee
again, even more people renounce, ad infinitum.
Anyone fancy a wager that by 2030 the fee will be $100000
and only 2 million (True-blue Sean Hannity types) will remain in the US.
They raise the fee, more people renounce, they raise the fee
again, even more people renounce, ad infinitum.
Anyone fancy a wager that by 2030 the fee will be $100000
and only 2 million (True-blue Sean Hannity types) will remain in the US.
Last edited by yandosan; Oct 1, 2015 at 2:04 am
Oct 1, 2015, 3:45 am
#37
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This situation has serious "positive feedback loop" potential.
They raise the fee, more people renounce, they raise the fee
again, even more people renounce, ad infinitum.
Anyone fancy a wager that by 2030 the fee will be $100000
and only 2 million (True-blue Sean Hannity types) will remain in the US.
They raise the fee, more people renounce, they raise the fee
again, even more people renounce, ad infinitum.
Anyone fancy a wager that by 2030 the fee will be $100000
and only 2 million (True-blue Sean Hannity types) will remain in the US.
Feb 9, 2016, 2:23 pm
#38
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Programs: enjoyed being warm spit for a few years on CO/UA but now nothing :(
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4,200+ renounced in 2015
Feb 10, 2016, 3:49 pm
#39
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Feb 11, 2016, 8:36 am
#40
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I've read that "FATCA is a despicable form of government-level extortion that essentially forced banks all around the world into a global spy network. It's a shame, especially since it is of very little value for presumably the money spent".
Feb 11, 2016, 10:26 am
#41
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One bank paid the Treasury Dept US$780,000,000 as a result of FATCA. 80 other banks collectively agreed to pay US$1,300,000,000 more. Many other banks have also paid fines/settlements. And more than US$8,000,000,000 in evaded taxes have been collected.
Those million dollar space toilets, $600 hammers, and bridges to nowhere are getting paid for, so many in gubmint would say the (regular) taxpayer got a lot of value for the money spent....
Feb 11, 2016, 10:54 am
#42
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Extortion is a little bit strong - but the law absolutely is intimidating. And it does effectively.
One bank paid the Treasury Dept US$780,000,000 as a result of FATCA. 80 other banks collectively agreed to pay US$1,300,000,000 more. Many other banks have also paid fines/settlements. And more than US$8,000,000,000 in evaded taxes have been collected.
Those million dollar space toilets, $600 hammers, and bridges to nowhere are getting paid for, so many in gubmint would say the (regular) taxpayer got a lot of value for the money spent....
One bank paid the Treasury Dept US$780,000,000 as a result of FATCA. 80 other banks collectively agreed to pay US$1,300,000,000 more. Many other banks have also paid fines/settlements. And more than US$8,000,000,000 in evaded taxes have been collected.
Those million dollar space toilets, $600 hammers, and bridges to nowhere are getting paid for, so many in gubmint would say the (regular) taxpayer got a lot of value for the money spent....
