and we have to deal with FBAR and FATCA?
 

Something is very, very amiss when the average Joe is required to submit bank details when all this is going on. Take a look. It's a joke.

http://www.bbc.com/news/business-27189735

Re: and we have to deal with FBAR and FATCA?
 

And the connection that disturbs you is.....?

Re: and we have to deal with FBAR and FATCA?
 

But surely, according to the United States Supreme Court, corporations are average Joes too?

Re: and we have to deal with FBAR and FATCA?
 

Exactly :rofl:

Re: and we have to deal with FBAR and FATCA?
 

Did you have to remind us?
:eek:
Alas, :thumbdown:

Re: and we have to deal with FBAR and FATCA?
 

Surely there should be a level playing field for carbon based average Joes and legal entity average Joes??

Re: and we have to deal with FBAR and FATCA?
 

The US for a long time has needed to rebalance the tax structure, the supposed logic is that companies are easier to hunt down than individuals. But it's a very very very VERY hard sell to suggest that individuals pay more tax and corporations pay less. The fact is though that if the company paid less tax, they would have more money to pay the individual employees. And what do we see - the US lagging further behind in salaries and corporations moving offshore.

The other way it needs to be rebalanced is for States to collect more tax and the Federal Govt. to collect less. It's very easy to get paranoid about what the federal govt is spending tax revenues on (more aircraft carriers and various other boondoggles) and it makes no sense for a State to ask the Federal govt. for money to fix a road when they could collect it themselves.

People often rail against federal govt. haters as being tin foil hat wearers, but they are actually right on the tax issue, the tax situation in the US makes no sense at all. Totally inefficient and works against foreign investment.

All I know is, take a look at Google Streeview, Highway 93 on the Montana side of the border, then Highway 93 on the BC side of the border. Very simple example.

Re: and we have to deal with FBAR and FATCA?
 

:lol:....(except it makes me want to cry)

anyway...guess it depends..which one exudes more hot air?

Re: and we have to deal with FBAR and FATCA?
 

Can a person become a corporation?

Re: and we have to deal with FBAR and FATCA?
 

Yes, it happens if you look back at Sodom. For g-ds sake don't try it though.

Re: and we have to deal with FBAR and FATCA?
 

Nothing per se, it just is a P*ss take when Joe Bloggs (and Jane Bloggs) has to submit personal bank details over small (FBAR) amounts and hope some hacker doesn't make off with his/her bank details in the process. yes...I know......"then keep it under 10K why don't you".
I'm sure the mega corps are all well within the law. It's just a different world.

Re: and we have to deal with FBAR and FATCA?
 

If you were to actually do the paperwork they have to do I suspect you would have a different opinion. Have a read up on Sarbanes-Oxley: https://en.wikipedia.org/wiki/Sarban...80%93Oxley_Act

I had to do an 1120-F once, that was about the least fun thing I have ever done...

Re: and we have to deal with FBAR and FATCA?
 

It certainly is an irritation as to why they think they have the right to track my legally obtained money?
And then have the right to fine me if I don't tell them where I keep it.

Re: and we have to deal with FBAR and FATCA?
 

Let's do the maths:

Large corporations:
[100's of lobbyists employed + $millions of contributions to campaign funds + $millions on entertainment + hundreds of in house tax attorneys employed] = inversion, no tax on offshore income left offshore.

Average Joe/Jane Bloggs:
[0 lobbyists + $hundreds in contributions + a handshake at the local
McDonalds + TurboTax] = do as we say, prole.

Seems quite understandable, so what's the problem?

Re: and we have to deal with FBAR and FATCA?
 

Prole? Careful, you'll be fomenting class warfare. Everyone's "middle class" over here, in the best of all possible worlds. :)

Plus they aspire to one day employing their own phalanx of tax attorneys.