DislikedThat's a great article! But wow, this is ridiculous!! I am surprised though how steathily that law got passed without a peep from people. I thought those rich people would, at least, rise up protest it against. After all, when it comes to tax burdens, they are the ones who would have to pay more than us and they would have the most incentive to leave.
And this law is a total invasion of your privacy. Basically it makes you empty out everything out of your piggy bank and then force you to give a portion to Uncle Sam.Ignored
After 9-11, laws were passed to control and eliminate Offshore accounts as they say, " it's organized crime, and drug dealers" that use these commonwealth countries as a scapegoat for tax invasion, illegal activities and money laundering. ... It's honestly, the developed nations trying to over power the developing nations. IBC and offshore accounts are a vital source for economic stability for these developing nations and now Developed nations want to control and eliminate higher yield Banking.
And now CFTC joins forces with IRS. lol. WTF AMERICA.