SAVINGS AND RETIREMENTS IN DANGER
April 26, 2014
While a coalition of governments and brutal dictatorships known as the Group of 20 (G-20) is in the process of meeting in April to continue its push to empower the International Monetary Fund (IMF), Bundy was fighting the BLM in Nevada, the somnambulists were running in the Boston Marathon again and others met at a “pot festival” in Colorado on Easter weekend blowing smoke in the face of photographers. One participant wore a T-shirt: Drugs Are My Life. A recent Gallup survey found that 70 percent of respondents have “checked out” or are “actively disengaged” from their jobs. And that dear readers is exactly the goal of these evil proliferate despot world leaders including Barack Obama who want sleeping Americans and global one world government.
IT’S NOT ABOUT TAX CHEATS BUT EVIL WORLD LEADERS
Obama and others met in Russia in 2013 to continue plotting while our lethargic pot smokers and others don’t have a clue. This G-20 coalition is doubling the resources it has while giving dictatorships such as China and other socialist regimes much more control over the institutions at the expense of the U.S. Government. A controversial IMF report released late last year, for instance, touts schemes to have big spending governments with out-of-control debts plunder humanity’s wealth using a mix of much higher taxes and outright confiscation. They have already literally looted the bank accounts of private individuals in Cyprus as a trial run at worldwide wealth confiscation and our savings, 401(k) and retirements are in danger. Citing a sample of 15 euro-area nations, the report claims that all households with positive net wealth – anyone with more assets than debt would have to surrender ten percent.
The 4/21/2014 NEW AMERICAN magazine shows a picture of what they call “Peas in a pod, or in suits” that met in Russia in 2013 to continue plotting. Soviet leader Putin and U.S. President Obama are seen laughing with other autocrats from the G-20 at how they are working with the Organization for Economic Cooperation and Development (OECD) to develop the worst tax law you’ve never heard about called the Foreign Account Tax Compliance Act (FATCA) passed in 2010 without any hearings or analysis. It was passed largely by Democrats and hidden in the misnamed “HIRE Act.” OECD is funded in large part by $100 million annually from the U.S. taxpayers.
NEW WORLD TAX REGIME CAN BE STOPPED
Inasmuch as the pieces of the New World Tax regime are already falling rapidly into place, it is of prime importance that the public be made aware using whatever means possible to alert them. With firm resistance, the emerging planetary taxation regime can be stopped but it is going to require Americans wake up from their self-induced stupor. Recognizing that the mind can only absorb so little at one time and because the articles in the magazine are extensive, I’ll be extracting excerpts and will do my best to keep you engaged so you can see the dangers involved. The cost of the magazine is $3.95 plus postage for one magazine and I highly recommend you order this April 21, 2014 magazine by calling: (800) 727-TRUE or visit TheNewAmerican.com
Those who have joined the global warming New Age religion will learn too late it was all a hoax. Most astute readers already recognize that the bureaucrats who head our alpha unconstitutional agencies both at the state and national level are rarely, if ever, held accountable, so can you imagine what it will be like with the globalist institutions that will be more than happy to trample individual rights and siphon more wealth out of the productive sector primarily the middle class? The articles by Alex Newman say it is an attempt to turn every foreign government and financial institution on the planet into extensions of the U.S. tax regime, and is supposed to work by imposing huge penalties – a 30-percent “withhold tax” on all U.S. transactions, including sales of securities – on firms that do not hand over all information they have on “U.S. persons” to the Internal Revenue Service. While Americans might recoil in horror at the prospect of sharing private financial information with Third World socialist regimes, the OECD boasts of its collaboration with them.
OBAMA WANTS TO CATCH TAX CHEATS
It was reported recently that Internal Revenue Service employees pay no taxes but get bonuses and then the Obama administration claims the reason for this legislation is to catch what they report in press releases as “tax cheats” and Obama has been a fervent supporter of the dangerous plot, which moves the IMF closer to the establishment’s vision of an all-powerful monetary authority out of U.S. control. Over 40 governments, which the Paris-based OECD misleadingly refers to as “countries,” have already committed to the controversial scheme. In a “joint statement,” participating governments celebrated the planetary plot, implying that it was only being instituted to catch tax cheats. “Tax evasion is a global problem and requires a global solution,” said representatives from dozens of governments, including more than few run by self-described socialists. “We therefore strongly support the development of the single global standards for automatic exchange of information between tax authorities.” To its credit, Congress has so far refused to go along with the scheme but for the globalist G-20 bosses, though, it is the top priority and Vladimir Putin’s regime and others have been threatening to simply go ahead with the reforms without U.S. government approval; however, you’ll notice in the title is the word “compliance” - enter the school yard bullies! If countries with less restrictive tax regimes do not bow down to the OECD, a 34-member international economic organization that works to influence world financial operations, they can be blacklisted as “uncooperative,” or worse, with economic sanctions being the implicit threat.
BULLYING HAS BECOME LEFT’S AMMUNITION
The tactic is especially effective when bullying smaller nations – Switzerland and Hong Kong, for instance- particularly with Obama and bloated governments ruling major Western economies already fully on board with the agenda. At a local level, these bullying tactics were prevalent when Health & Human Services Secretary Kathleen Sebelius in a conflict of interest went to companies which she “regulated” and got them to contribute seven figures (millions) to Obamacare. She later resigned over botched Obamacare and once again – no accountability. Christian businesses such as Chick-Fil-A folded like a cheap umbrella over the same-sex marriage issue. The Mozilla CEO was fired when it was discovered he contributed $1,000 to oppose same-sex marriages. The Obama administration even attempted to force the Little Sisters of the Poor and Aged to comply with the mandate to provide contraceptive services. Bullying from the left and name calling, an old Saul Alinsky trick, has become very advantageous.
THE SEAMLESS SURVEILLANCE WEB
If and when it goes into effect, governments all over the world will have instant access to people’s most sensitive financial records, including bank accounts, assets, income, insurance, interest paid, capital gains, property ownership, investments, sale of real estate, and more. And the age-old notion of innocent until proven guilty is being flipped on its head, with authorities searching through people’s highly personal information in search of potential crimes without warrants or even suspicion. Escape will become virtually impossible for the poor, middle and upper-middle classes. However, as multiple analysts have already pointed out, there will be more than enough loopholes in the new world taxation regime for the global establishment to protect their own wealth from outright confiscation. The rest of humanity, though says Newman, will suffer the consequences if the brakes are not slammed on the scheme very soon.
Newman says historically, the U.S. government has largely resisted the OECD’s efforts to “harmonize” global taxation policy – at least tepidly. Under the Obama administration, however, the global plot has received among its biggest boosts thus far with the adoption of FATCA and the administration’s full-blown open support for all of the key globalist talking points – automatic information exchange (think Obamacare exchanges) global minimum taxes, giving up sovereignty, global warming-related wealth redistribution and more.
Remembering that all appropriation bills must begin in the House of Representatives controlled by the Republicans since 2010, Congress a long time ago should have refused to pay dues to the United Nations and got out. In recent years the United Nations has become increasingly bold in its efforts, seizing on every conceivable pretext to push the radical agenda for an independent revenue stream that would free it from having to depend on contributions from member governments and make it a true world power.
MILLIONS OF AMERICANS OVERSEAS AFFECTED
Once again the media is AWOL in forewarning the people what has already affected millions of innocent Americans overseas. The article tells about Ruth Freeborn, an Oklahoma native, who was forced to GIVE up her citizenship or her family. More than three decades ago, Ruth moved to Canada with her husband to help care for his parents, who were elderly and ill. Of course, in 2010 Congress passed and Obama signed a new tax law buried deep inside an unrelated “jobs” bill. That changed everything.
Just how complex and burdensome is the IRS taxation regime for the millions of Americans abroad? In a 2012 report to Congress, a National Taxpayer Advocate explained there are 7,332 pages of instructions, 16 IRS publications, and 667 pages of tax forms that are applicable to overseas U.S. citizens. For foreign banks and firms seeking to be in compliance with IRS mandates, it is even worse. Then came the 2010 scheme and it was too much to bear so Ruth, like millions of other every day Americans overseas – missionaries, spouses, teachers, small-business owners, so-called accidental Americans who’ve never even stepped foot on U.S. soil, and countless others – were stuck in a Catch-22. Foreign banks were shutting down Americans’ accounts. Many businesses no longer wanted anything to do with “U.S. persons,” preferring to steer clear of the infamous IRS. Americans abroad were suddenly pariahs.
Ruth’s husband, who makes around $50,000 a year as a technician, drew the line at giving the Obama administration unfettered access to all of the family’s private financial information – and potentially even their meager savings if, for instance, the IRS claimed to uncover some minor mistake or oversight in the mountains of complex paperwork Americans abroad are forced to file every year. She had to choose between her family in Canada or her country of birth.
REPUBLICANS PASS ANTI-FATCA MEASURE
Sen. Rand Paul (R-Ky), who introduced legislation aimed at reining in the scheme, has also spoken out about the administration’s abuses, saying the administration was acting “without the consent and authority of Congress. “ Blasting “hundreds of billions” in compliance costs to the U.S. economy alone, Paul added: “It is a violation of Americans’ constitutional protections, oversteps the limits of Executive power, disregards the mutual respect of sovereignty among nations and drains money from the federal treasury under the guise of replenishing it, and discourages overseas investment in the United States.
In early January the Republicans National committee (RNC) responded to outraged constituents, voting overwhelmingly to adopt a resolution calling for FATCA’S repeal. In its resolutions, the RNC said that the schemes “ has inadvertently ensnared every United States Citizen living overseas due to its overzealous invasion of privacy and punitive taxation and enforcement.” However, despite noting that the U.S. government is one of only two in the world (Eritrea is the other one) that taxes citizens no matter where they reside, the GOP measure did not call for an end to citizenship-based taxation. It did, however, call on U.S. lawmakers to allow Americans who were forced to renounce their citizenship due to the draconian 2010 law to regain their citizenship.
MEDIA DISTORTS ANTI-FATCA MEASURE
The 168-member RNC voted overwhelmingly to pass the anti-FATCA measure on January 24 as part of a package containing other resolutions, despite deeply deceptive media coverage ahead of the vote. Reuters, for example which sells “FATCA compliance services” but does not disclose that to readers, tried desperately to frame opposition to FATCA as support for “tax dodgers.” To that end, it quoted taxpayer-funded government advocates expressing outrage: “It is mind-boggling that a major political party would even consider endorsing a resolution to facilitate tax evasion,” claimed Heather Lowe, director of government affairs at a UN-and government-funded outfit known as Global Financial Integrity. “Repealing the law would cripple the U.S. and global efforts to fight offshore tax evasion.
Even “compliance mongers” are now warning that FATCA is set to become a “train wreck.” However, while critics say repealing the law is an important first step in restoring fundamental rights and helping to avoid potential economic calamity, there is an even broader issue that remains unaddressed thus far, citizenship-based taxation. Whether lawmakers are willing to aid Americans and our ailing economy remains to be seen.
© 2014 Betty Freauf - All Rights Reserved