Is The US Killing The Global Economy?
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.
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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