The Tax Noose Tightens | FrontPage Magazine
By Mark Hendrickson On November 3, 2014 In Daily Mailer,FrontPage
The political left in America remains obsessed with its grandiose visions of social engineering, increased government control of economic activity, and redistributive “justice.” For them, the state can never have too much power. Incurable spendaholics and, in President Obama’s case, actively pursuing a Marxist economic platform, they never have enough money to spend; hence, they are constantly plotting and striving to confiscate ever-more of the wealth produced in the private sector. With their ravenous and insatiable appetite for more revenues, they behave like a pack of tax predators.
Even as Obama’s approval rating continues to sink, thereby jeopardizing Democratic control of the Senate after next Tuesday’s election, Team Obama has continued to tighten the tax noose around the necks of American citizens and businesses.
First, the pursuit of citizens: On Oct. 26, Bloomberg reported, “The number of Americans renouncing U.S. citizenship increased 39 percent in the three months through September” from the year-earlier period, seemingly due to the intrusive asset-disclosure rules that took effect July 1 under the Foreign Account Tax Compliance Act (FATCA). Obama still hasn’t achieved his ultimate tax fantasy—a UN-imposed and –administered global tax—but FATCA significantly ramped up the administration’s ability to monitor and pursue Americans’ wealth wherever in the world it may be.
Second, the aggression against businesses: Over the last few months, Team Obama has chided, vilified, and harassed American corporations that have been preparing to implement tax inversions—that is, purchasing a foreign corporation and then moving corporate headquarters to the foreign domicile to reduce the corporation’s tax liability. This has led to the nauseating spectacle of the minions of this most un-American of presidents publicly questioning the patriotism of Americans seeking refuge from the tax noose.
The common theme here is obvious: Americans are trying to escape the economic predations of our government. Let that sink in for a minute: For most of our history, America was a haven, a refuge—the place that people from around the world came to in order to escape the predations and oppressions of predatory governments. This was the Land of Opportunity, the place to come to pursue the American Dream—your dreams—in liberty, and get as rich as your talents and initiative would carry you.
Now, under the influence of progressive ideas, we have become politically corrupt and degenerate. …
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Even as Obama’s approval rating continues to sink, thereby jeopardizing Democratic control of the Senate after next Tuesday’s election, Team Obama has continued to tighten the tax noose around the necks of American citizens and businesses.
First, the pursuit of citizens: On Oct. 26, Bloomberg reported, “The number of Americans renouncing U.S. citizenship increased 39 percent in the three months through September” from the year-earlier period, seemingly due to the intrusive asset-disclosure rules that took effect July 1 under the Foreign Account Tax Compliance Act (FATCA). Obama still hasn’t achieved his ultimate tax fantasy—a UN-imposed and –administered global tax—but FATCA significantly ramped up the administration’s ability to monitor and pursue Americans’ wealth wherever in the world it may be.
Second, the aggression against businesses: Over the last few months, Team Obama has chided, vilified, and harassed American corporations that have been preparing to implement tax inversions—that is, purchasing a foreign corporation and then moving corporate headquarters to the foreign domicile to reduce the corporation’s tax liability. This has led to the nauseating spectacle of the minions of this most un-American of presidents publicly questioning the patriotism of Americans seeking refuge from the tax noose.
The common theme here is obvious: Americans are trying to escape the economic predations of our government. Let that sink in for a minute: For most of our history, America was a haven, a refuge—the place that people from around the world came to in order to escape the predations and oppressions of predatory governments. This was the Land of Opportunity, the place to come to pursue the American Dream—your dreams—in liberty, and get as rich as your talents and initiative would carry you.
Now, under the influence of progressive ideas, we have become politically corrupt and degenerate. …
-go to links-
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