Is The US Killing The Global Economy?

Tyler Durden's picture

Originally posted at Armstrong Economics,

The United States is the ONLY country that taxes American citizens even if they have never lived in the United States at any time. Once born American, you owe taxes as an economic slave even when you receive nothing and have never lived in the USA. This law passed last December that authorizes the confiscation of any firm’s assets if they do not report what an American citizen does overseas has been devastating. Americans have been thrown out of banks everywhere. In Switzerland, you have to fill out papers to open and account swearing you are not an American citizen even if you are Swiss. Americans are being thrown out of public funds and just about everything anywhere right down to safety deposit boxes. The balance of trade will continue to collapse as foreign goods can be sold to Americans but Americans cannot open businesses overseas unless you are part of the big multinational corporations. This alone has sent the velocity of money spiraling downward. However, what is going on now is just off the wall.

The US government is now hunting down people who may have had one parent as an American yet they have lived outside the USA all their lives. The IRS has been hunting lineage of Canadians who had one American parent and are sending them letters informing them that by US law they should have been paying taxes their whole life to America in addition to Canada. This is sending countless Canadians running for lawyers all because the USA is broke.

http://www.theglobeandmail.com/globe-investor/personal-finance/us-tax-crackdown-hits-canadian-residents/article584297/

How Americans are being treated by their own country is not as a free individual, but as economic property to pay revenue to the government regardless of where they live. NO OTHER NATION DOES THIS BUT THE USA. We are in such serious trouble with this Sovereign Debt Crisis that all liberty is being lost. Virtually every other major nation does not tax worldwide income if earned outside the country under the simple theory you pay taxes to use state services. If you are not there, you do not pay. American are owned by the government no different than the days of slavery. If your parents were slaves, you were the moment you were born. We perhaps ended private ownership of people, but we did not end state ownership of people. You must work and pay taxes and it has nothing to do with paying your “fair share” since there is nothing owed to a citizen by the state.

The desperate need for revenue to pay the bond holders has destroyed everything the constitution was intended to secure.

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Joebloinvestor's picture

Sounds like a model the French need.

macholatte's picture

 

 

Find out just what any people will quietly submit to and you have the exact measure of the injustice and wrong which will be imposed on them.
Frederick Douglass

 

The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt.
Barack Obama

 


TwoShortPlanks's picture

"Is The US Killing The Global Economy?"....that's a Big (Fucking Huge) 10-4 Good Buddy!

Raymond K Hessel's picture

It's time to cede from the Union....right after I finish every show on my DVR.

Harlequin001's picture

'Welcome, to the real world..."

EnslavethechildrenforBen's picture

Every $Trillion that the U.S. prints and spends is a Trillion dollars worth of wealth that flows back to the Bankers. If this keeps up at this pace, there will be only a black hole left where the earth was in a hundred years.

Future Jim's picture

It will be amusing to watch the US military try to draft people living in other countries.

DaveyJones's picture

Is the US killing the economy? They're killing everything else

zerozulu's picture

Hay buddy, a news for you. Whole Al-caeda is working you US.

Dugald's picture

Until I read this article I had no real idea of just how fucked you folk really are.....you have my sympathy.

max2205's picture

Fine, but I'll be happiest when they go after google ge apple ect tax dodges

Your next fuckers

trav777's picture

that money gets taxed when the people it's distributed to declare it as income, idiot

Super Broccoli's picture

only if it's distributed to americans my dear ;-)

From Germany With Love's picture

But what if we're all Americans now?

Urban Redneck's picture

And why should someone who isn't a US citizen or resident pay US taxes for owning shares in a US company?

Should US citizens and residents pay foreign income taxes on the foreign stocks they own?

zilverreiger's picture

Doh?! They are not called the great satan for nothing in 95% of the world. Gunboat Economics.

BLOTTO's picture

Their is a secret war and agenda going on against every good person on this planet.

.

In the US and abroad...every nation has been inflitrated and hijacked.

 

 

zilverreiger's picture

Yeah the USD based empire possibly shot it's own foot, or is moving to asia, or going full transnational. I think theres a war on between the factions in the last two options.

 

Anusocracy's picture

Foreign countries are being protected.

That's why overseas Americans are being taxed - they're paying for protection.

fockewulf190's picture

Ahh...but Mark Rich laughes himself to sleep every night!

ajax's picture

 

@fockewulf190

 

It's Marc Rich - and no he doesn't or if he does it hasn't anything to do with being a target of the USA's supreme hypocrisy vis a vis who owes "taxes". 

Read the book: "The Secret Lives of Marc Rich: The King of Oil" by Daniel Ammann, Business Editor of Switzerland's  "Die Weltwoche".

fockewulf190's picture

No it´s Mark Rich, a very shrewed ex-pat who turns all his leftover fiat into Phyzz, out of the banking system, and laughs himself to sleep every night.

TwoShortPlanks's picture

Fear not BLOTTO, Gen-Y is on the case, they'll save us. <SARC/OFF>

They have co-engineered a generation least capable of clear, rational, and critical thought under pressure. Gen-Y are the proverbial 'Lambs To The Slaughter'.....and there isn't anything any of you can do about it.

Look around you; who do you think will be keeping themselves and others together when the lights go out?!.....Smith & Wesson.

Freddie's picture

But the Europeans love B Hussein Mugabe.  He is leading them to pverty with currency wars and his shills downgrading every european country.  Including Warner Buffer's Moodys.

DoChenRollingBearing's picture

ALL of our countries are stink now, Freddie.  Europe, yes.  But ours too.  OUR country re-elected him despite the worst presiding over ANY economic recovery on record.  That is because 51% + of our people now just want their Free Shit from Santa Claus.

America will not get out of this hole for a long time.  Best prepare, folks.

4exNinja's picture

It didn't help that Romney never presented a plan showing off how he'd make it better...and of course his racist rethoric during the primaries didn't help either, and neither did his anti-women bullshit. He shot himself in the foot with that stuff. 

bank guy in Brussels's picture

Damn that US citizenism ... good not to be a part of it

fockewulf190's picture

Do not underestimate the measures the EU Parliiment will go to for more cash when one EU nation after the next explodes.  There are a lot of socialists out there watching the rich hit the high road with their wealth while they are left with the millions of poor and ever decreasing revenues to pay for them. 

Ghordius's picture

The power to tax is national, the EU is not going to get that.

DoChenRollingBearing's picture

Well you are European, and are likely to be right.

But, we'll see.  Central governments like to grab and grab...

Super Broccoli's picture

the first european tax are being set up at the moment :-) now they don't look very big at first (like any tax) but they'll grow don't worry !

Urban Redneck's picture

Fee, Tax- what's the difference?

While the current methods are examples of indirect control, it's not like any of the vassal states of Brussels wouldn't have to pay if they decided to cut their domestic VAT to stimulate the economy.

From Germany With Love's picture

Indeed. Latest rumors from Germany:

'...there was even speculation about radical measures such as Lastenausgleichsgesetz (enforced taxation of housing and equities), prohibition of ownership of gold and government-enforced maximum interest rates.'

 

Source (German):
https://www.facebook.com/notes/gabriel-von-engelskirchen/offener-brief-a...

dunce's picture

Both legal and illegal aliens evade our taxes and claim many taxpayer funded benefits yet are "never " prosecuted for tax evasion. The Mexican drug cartels operate in every US state but pay no taxes on their huge profits.

otto skorzeny's picture

capital controls are next-the govt. has almost got the fence around the reservation completed-at least if you are a legal US citizen and want to get yourself and your money OUT.

Zombie Investor's picture

I'm just thankful that my 401K is safe.

NoTTD's picture

I assume that is sarcasm.

Big Corked Boots's picture

Well, MY 401k is safe. It is completely invested in Canadian metals, securities, and funds. 

Uh, it is safe, isn't it? Right?

Jreb's picture

Canada is a puppet banker state like the US with a lot of treaties between the two countries to handle people like those that frequent ZH. In this day and age safety is an illusion. At the stroke of pen we are all criminals.

 

Good luck with your investments though. And merry Christmas.

lesterbegood's picture

Isn't BANK OF CANADA a FEDERAL RESERVE BANK?

zerozulu's picture

in a sense, yes. his 401k will be worth same as today in 10 years time when loaf of bread will be $300 a piece.

cossack55's picture

Maybe The Bernank has switched from a helicopter to a drone.

Martin Silenus's picture

Glad to be 100% Canadian, eh?

duo's picture

You watch, just having a beer with an American will send the IRS calling.

chubbyjjfong's picture

Chur, and glad to be 100% Kiwi, bro?