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(CNBC)   U.S. Treasury officials delay off-shore tax dodging laws for the wealthiest Americans until after the summer season on Martha's Vineyard. It would sullen the garden parties and ruin the mood   (cnbc.com) divider line 44
    More: Obvious, United States Department of the Treasury, offshore bank, deputy assistant, international tax  
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961 clicks; posted to Politics » on 13 Jul 2013 at 8:46 AM (39 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



44 Comments   (+0 »)
   
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2013-07-13 08:47:46 AM
Well, I never.
 
2013-07-13 08:53:15 AM
The US government shouldn't be attempting to regulate foreign banks at all.  I'm sure Americans would be completely okay with England setting rules and regulations for American based banks.
 
2013-07-13 08:54:58 AM
Let's see if this generates the same response as delaying parts of Obamacare
 
2013-07-13 08:59:00 AM

MyRandomName: The US government shouldn't be attempting to regulate foreign banks at all.  I'm sure Americans would be completely okay with England setting rules and regulations for American based banks.


If it involved Americsn banks holding money for English nationals for the express purpose of dodging English taxes then personally I would have zero problem with that.

That's just the risk of doing business with the money of foreign nationals.
 
2013-07-13 09:05:59 AM

MyRandomName: The US government shouldn't be attempting to regulate foreign banks at all.  I'm sure Americans would be completely okay with England setting rules and regulations for American based banks.


I'd be OK with Iceland doing it. Their gov't had some balls.
 
2013-07-13 09:12:42 AM

MyRandomName: The US government shouldn't be attempting to regulate foreign banks at all.  I'm sure Americans would be completely okay with England setting rules and regulations for American based banks.


Well someone should.
 
2013-07-13 09:13:47 AM
Dodging taxes is every (wealthy) American's god given right!


Why do you hate freedom?
 
2013-07-13 09:21:06 AM
Always amazes me that a certain segment of the population cheers so loudly whenever a billionaire's accountant finds a way to avoid paying taxes, even though it means he's going to pay more to make up the difference. It doesn't make any rational sense.


Since the law was passed, foreign banks and other businesses have complained about the costs of FATCA ...

So tack on $5.00/year in fees to the U.S. citizens with more than $50,000 in your financial institution. Problem solved. It's not like they send someone with a quill pen and parchment to the basement to transcribe paper records or something, I'm pretty sure account information's all computerized these days and it shouldn't cost much to comply.
 
2013-07-13 09:23:39 AM
phaseolus: Always amazes me that a certain segment of the population cheers so loudly whenever a billionaire's accountant finds a way to avoid paying taxes, even though it means he's going to pay more to make up the difference. It doesn't make any rational sense.


That's about the same segment of the population that called John Kerry a coward for getting shot in Vietnam, and went on to vote for someone who used his family connections to avoid the war entirely.
 
2013-07-13 09:35:51 AM

LordJiro: phaseolus: Always amazes me that a certain segment of the population cheers so loudly whenever a billionaire's accountant finds a way to avoid paying taxes, even though it means he's going to pay more to make up the difference. It doesn't make any rational sense.


That's about the same segment of the population that called John Kerry a coward for getting shot in Vietnam, and went on to vote for someone who used his family connections to avoid the war entirely.


I'm ok with this, thanks.
 
2013-07-13 09:38:04 AM
You adjectived when you should have verbed, subby.
 
2013-07-13 09:38:56 AM
Because every tax dollar collected is spent on the public good and benefit of the whole mankind.

encrypted-tbn0.gstatic.com

Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of  tax money visiting Paris for one night.


// Stop feeding a corrupt beast.
 
2013-07-13 09:48:53 AM
Look guys, they bought the congress fair and square. If you want to pay less taxes, you should have been bidding on congressmen.
 
2013-07-13 10:03:49 AM

toomuchwhargarbl: Look guys, they bought the congress fair and square. If you want to pay less taxes, you should have been bidding on congressmen.


This would be funny if it wasn't so true.

:(
 
2013-07-13 10:18:00 AM

Dr.Mxyzptlk.: Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of tax money visiting Paris for one night.


citation needed.

and no breitbart/daily caller/redstate/free republic don't count.
 
2013-07-13 10:29:42 AM

James F. Campbell: You adjectived when you should have verbed, subby.


Thank you. I actually went and looked it up, just to see if maybe I was wrong and that in some obscure usage "sullen" could properly be used as a verb. It can't.
 
2013-07-13 10:30:50 AM

Curious: Dr.Mxyzptlk.: Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of tax money visiting Paris for one night.

citation needed.

and no breitbart/daily caller/redstate/free republic don't count.


All those x spent y of our tax money to go to z, things forget to mention that the x is usually wealthy to begin with and can afford the trip in their own.

The y is usually just the cost of security. At which point they're really arguing that our highest political office should not be protected at all.

Also I'd like to mention Obama has still had fewer vacation days than bush ever did.

But don't let facts get in the way of a good, wholesom, god fearing American™ outrage.
 
2013-07-13 10:38:58 AM

AnonAmbientLight: can afford the trip in their own.


In their own .......  Eurovan???!!!
 
2013-07-13 10:47:31 AM

Dr.Mxyzptlk.: Because every tax dollar collected is spent on the public good and benefit of the whole mankind.

[encrypted-tbn0.gstatic.com image 277x182]

Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of  tax money visiting Paris for one night.


// Stop feeding a corrupt beast.


How much money is sent to the Pentagon for obsolete tanks and redundant jet engines, both of which the Pentagon has said it doesn't want? How much did Bush's little adventure in Iraq cost a day? How much did the deficit rise during the last three Republican administrations versus the last three Democrats?

But hey, half a million (if that: Republicans have a history of exaggerating these numbers because they're liars) for the Vice President's security, transportation and accommodation? It's an outrage NOW!
 
2013-07-13 11:01:23 AM
The rich will find their way around it.  Ordinary, middle-class expatriates are going to get even more of an ass-reaming by the IRS than they already do.  The US basically regards its expatriate citizens as serfs who need to be punished for daring to leave the manor.
 
2013-07-13 11:30:30 AM
Give them two options.

1. Repatriate it at 50% rate and agree that no harm, no foul.
2. Start actively seizing accounts in the name of national security and either force the tax cheats to invest in solid assets (land, art, collections, gold bullion, etc) or risk it.

But I'm a socialist and I like making baby Jesus cry.
 
2013-07-13 11:43:17 AM

Snarcoleptic_Hoosier: Give them two options.

1. Repatriate it at 50% rate and agree that no harm, no foul.
2. Start actively seizing accounts in the name of national security and either force the tax cheats to invest in solid assets (land, art, collections, gold bullion, etc) or risk it.

But I'm a socialist and I like making baby Jesus cry.


Do you think someone like Warren Buffett, John Kerry or Bill Gates would ever allow our government to do that? Buffett won't even pay the taxes he owes as it is. You are delusional.
 
2013-07-13 11:57:22 AM

MyRandomName: The US government shouldn't be attempting to regulate foreign banks at all.  I'm sure Americans would be completely okay with England setting rules and regulations for American based banks.


If they want access to American markets, they play by American rules.  If they can't. they don't have to.
 
2013-07-13 12:04:44 PM

AnonAmbientLight: Curious: Dr.Mxyzptlk.: Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of tax money visiting Paris for one night.

citation needed.

and no breitbart/daily caller/redstate/free republic don't count.

All those x spent y of our tax money to go to z, things forget to mention that the x is usually wealthy to begin with and can afford the trip in their own.

The y is usually just the cost of security. At which point they're really arguing that our highest political office should not be protected at all.

Also I'd like to mention Obama has still had fewer vacation days than bush ever did.

But don't let facts get in the way of a good, wholesom, god fearing American™ outrage.


Those types of comments are excellent signs that the commenter has no real opinions of his own and can safely be ignored, though.
 
m00
2013-07-13 12:25:46 PM

phaseolus: So tack on $5.00/year in fees to the U.S. citizens with more than $50,000 in your financial institution. Problem solved. It's not like they send someone with a quill pen and parchment to the basement to transcribe paper records or something, I'm pretty sure account information's all computerized these days and it shouldn't cost much to comply.


As much as I hate the rich, I see this as problematic. Many Americans are working overseas, and use foreign banks because that's where their paycheck goes.
 
2013-07-13 12:51:18 PM

edmo: Let's see if this generates the same response as delaying parts of Obamacare


From both sides.
 
2013-07-13 01:27:07 PM
So can't I just diversify my liquid assets into several hundred different banks?

Tax avoidance vs. Tax Evasion.
 
2013-07-13 01:28:10 PM
And just what branch of the Federal Government is the Dept of Treasury part of?
That's right, the Executive branch.
But go ahead and imply that it's only one party that is deep throating Wall Street.
 
2013-07-13 01:41:42 PM
OK, seriously this time.

While this is a step in the right direction, I get the feeling the Mitt Romneys of the world will suddenly discover that they have 200 long-lost 3rd cousins 5x removed, who will then open accounts containing $49,999.


zepher: But go ahead and imply that it's only one party that is deep throating Wall Street.


One party is deepthroating Wall Street. The other is dressed in a gimp suit and chastity belt, deepthroating Wall Street while giving it a prostate massage and trying to choke out the words, "Please sir, may I have some more," between lashes of a whip made from the hides of crippled poor children.
 
2013-07-13 01:56:09 PM

Spaced Lion: OK, seriously this time.

While this is a step in the right direction, I get the feeling the Mitt Romneys of the world will suddenly discover that they have 200 long-lost 3rd cousins 5x removed, who will then open accounts containing $49,999.


zepher: But go ahead and imply that it's only one party that is deep throating Wall Street.

One party is deepthroating Wall Street. The other is dressed in a gimp suit and chastity belt, deepthroating Wall Street while giving it a prostate massage and trying to choke out the words, "Please sir, may I have some more," between lashes of a whip made from the hides of crippled poor children.


Is this the part where you claim that oral sex isn't really sex?
Both parties have Wall Street balls deep up their asses. For you to deny that is just plain ignorant.
 
2013-07-13 02:03:15 PM

zepher: Both parties have Wall Street balls deep up their asses. For you to deny that is just plain ignorant.


Who's denying anything? Both parties are corrupt, as is the entire political system. It just seems to me that one party harbors more corruption than the other - or, at least, is far less adept at keeping it quiet.
 
2013-07-13 02:04:17 PM
Almost forgot - oral sex is sex, and it is awesome.
 
2013-07-13 02:31:46 PM
Oh, I'm afraid the tax dodges will be quite operational when your friends arrive.
 
2013-07-13 02:43:50 PM
The answer is to take the cheaters out of the game.

Start issuing the funny blue money, then charge them double to get back in the game.
 
2013-07-13 02:54:00 PM

jjorsett: edmo: Let's see if this generates the same response as delaying parts of Obamacare

From both sides.


I don't get why the left isn't mad about postponing Obamacare, honestly. If it will save our budget and millions of people, it is very selfish to postpone it until after the midterms.
 
2013-07-13 03:59:31 PM
FTFA: The Foreign Account Tax Compliance Act, or FATCA,

Really? The acronym department of acronyms couldn't find another "T" word to make it "FATCAT"?
 
2013-07-13 04:09:27 PM

Spaced Lion: zepher: Both parties have Wall Street balls deep up their asses. For you to deny that is just plain ignorant.

Who's denying anything? Both parties are corrupt, as is the entire political system. It just seems to me that one party harbors more corruption than the other - or, at least, is far less adept at keeping it quiet.


You say that, yet most people here adore the Democrats while the Dems bend over for Wall Street at every chance yet deny that they do at every turn.
You put you full faith and allegiance into a party that openly lies about their policies and who they portend to represent.
At least the Republicans are honest about being Wall Street's biatch. The Dems lie about it and you guys just eat it up.
Just about our entire Federal government system has been corrupted by money and insider deals.
Almost every last one of our current members of Congress don't give a shiat about their constituents and only care about how to make themselves richer and how to give themselves more power.
 
2013-07-13 04:35:15 PM
When will America stop picking on our Wealthy Friends??   they work so hard and ask for so little.
 
2013-07-13 04:36:50 PM
Those Turd Americans who have tens of Billions in Swiss Banks are not going to be amused!!
 
2013-07-13 04:38:36 PM

zepher: Spaced Lion: zepher: Both parties have Wall Street balls deep up their asses. For you to deny that is just plain ignorant.

Who's denying anything? Both parties are corrupt, as is the entire political system. It just seems to me that one party harbors more corruption than the other - or, at least, is far less adept at keeping it quiet.

You say that, yet most people here adore the Democrats while the Dems bend over for Wall Street at every chance yet deny that they do at every turn.
You put you full faith and allegiance into a party that openly lies about their policies and who they portend to represent.
At least the Republicans are honest about being Wall Street's biatch. The Dems lie about it and you guys just eat it up.
Just about our entire Federal government system has been corrupted by money and insider deals.
Almost every last one of our current members of Congress don't give a shiat about their constituents and only care about how to make themselves richer and how to give themselves more power.


but i thought Democracy was minority rule?  Wealthy minority.

my bad.
 
2013-07-13 04:39:36 PM

crab66: Dodging taxes is every (wealthy) American's god given right!


Why do you hate freedom?



yea, damn Freedom Haters!
 
2013-07-13 04:42:11 PM

Spaced Lion: OK, seriously this time.

While this is a step in the right direction, I get the feeling the Mitt Romneys of the world will suddenly discover that they have 200 long-lost 3rd cousins 5x removed, who will then open accounts containing $49,999.


zepher: But go ahead and imply that it's only one party that is deep throating Wall Street.

One party is deepthroating Wall Street. The other is dressed in a gimp suit and chastity belt, deepthroating Wall Street while giving it a prostate massage and trying to choke out the words, "Please sir, may I have some more," between lashes of a whip made from the hides of crippled poor children.


you ought to become a writer.   i'd buy your book.
 
2013-07-14 03:52:05 PM

Curious: Dr.Mxyzptlk.: Kids supporting and understanding VP. Joe Biden need to spend $585,000.00 of tax money visiting Paris for one night.

citation needed.

and no breitbart/daily caller/redstate/free republic don't count.

http://www.huffingtonpost.com/2013/03/25/joe-biden-paris-hotel-cost_ n_ 2950062.html

http://abcnews.go.com/blogs/politics/2013/03/hotel-contracts-for-bid en -trip-to-london-paris-totaled-1-million/



See what happens when you live in a bubble of information .  It's not your fault that MSNBC and others under report or ignore these stories. But as a thinking person you have to go beyond the familiar and predictable rhetoric .

What ever happen to 'Question Authority ." It's been replace with " In your face  my team won.

As for the security issue maybe Joe could have skipped a night in Paris and come home to Washington DC.
 I doubt he did anything of importance or met anyone that couldn't be reached by phone.

encrypted-tbn1.gstatic.com

Anyways the point was wasteful spending of the nation money and our easy acceptance of it.
 
2013-07-14 04:36:33 PM

Dr.Mxyzptlk.: See what happens when you live in a bubble of information .


yeah you get weekly standard blog posts copy pasted to hufpo and abc. i followed various links to get to the government document with the 585k on it and there is a total lack of detail about what that covers. the weekly standard piece says: "The documentation for this contract is not as detailed as the London one, so the cost per room is not available." note that "cost per room" thing. this isn't just for joe to pig out at the mini bar in some palatial room. and we both agree that there were security concerns that drove the price up. nor do we know why he stayed over. you think he didn't need too i don't know nor care.

while i still think this is manufactured outrage i do appreciate you providing links, thanks.
 
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