Comments on: The US Election, as seen by Overseas Americans

By: Sharon Dale

Sharon Dale — Wed, 09 Nov 2016 09:41:03 +0000

interesting….The U.S. election from abroad. http://www.slideserve.com/persia/the-u-s-election-from-abroad

By: Victoria@ The British Berliner

Victoria@ The British Berliner — Fri, 04 Nov 2016 14:21:34 +0000

As a British person, I don’t claim to have any say over American affairs especially with Brexit hanging over our heads. Sigh!

However, I live in Berlin, and many of my expat friends are American. Most of them were surprisingly, supporters of Bernie, but the majority will pretty much be voting for Hilary.

Fingers crossed!

By: Rachel Heller

Rachel Heller — Fri, 28 Oct 2016 16:58:21 +0000

In reply to Betsy. Agreed. The venom both sides spew is really upsetting.

By: Betsy

Betsy — Fri, 28 Oct 2016 16:16:51 +0000

Thoughtful comments here are a breath of fresh air compared to what we see and hear on a daily basis on the mainland. While we’ve enjoyed our time with friends and family after four years absent, our apprehensions about the manipulative tactics in the U.S. media have come to pass. Appalling doesn’t begin to describe the situation. All we can think is, “these two are the best we can do?” Avid supporters on both sides have lost their minds. The next two weeks can’t pass quickly enough. Count your blessings that you only see the tip of the iceberg.

By: Rachel Heller

Rachel Heller — Fri, 28 Oct 2016 10:25:04 +0000

In reply to David Lohrmann. I disagree with you on many of your points, as you know. As for the Libertarians or the Greens, because of the electoral college system the US will always move to two strong parties rather than multiple little ones. The little parties can't win.

By: David Lohrmann

David Lohrmann — Fri, 28 Oct 2016 09:00:41 +0000

I only voted in 2 presidential elections (for Obama) and I don’t have to tell you what he and the Democratic Party did to thank me for those votes.
So, basically, I would have initially become a single-user voter if I (as a renunciant) still had the right to vote in American elections.
However, while giving some attention to HRC over the past months, I’ve noticed many issues which bother me. Unlike old-school politicians like Truman and Eisenhower, Hillary and Bill have both misused public office to become incredibly wealthy. Although they are backed by Wall Street, the world’s financial elite and large corporations, she wants us to believe that she would raise her own taxes and those of her backers to save the middle class. If that were true she wouldn’t so unfeelingly destroy the US middle class living abroad. The Clintons also have 90% of the international media totally under control as political tools to further their own agenda. As a result, much of what they do and say has been played down, glossed over and ignored completely. She has made Trump’s disgusting attitudes and statments toward women her major campaign issue and whitewashed her husband’s appalling track record in that regard. She says that Trump can’t be trusted with the codes, but is constantly threatening Russia with war for alledged and unproven hacking of the DNC headquarters and blurted out America’s nuclear response time to the world during the last debate. Her diplomatic experience is touted as her major advantage over Trump although, aside from George W. Bush, no American has done more to contribute to the mess we have in Libya and Syria today, which also created the refugee crisis we in Europe apparently cannot deal with properly.
And Hillary clearly has committed perjury and destroyed evidence in connection with Congressional and FBI investigations. Many Americans are now serving very long sentences for less serious and less numerous offenses.
All of this is just the tip of the iceberg regarding Hillary (and many other members of the Democratic party). But the Dems are not the sole root of the problem. The roots are bi-partisan. I voted for Obama to reverse what Bush had done and he did do a few things better. But he couldn’t stop the expansion of the military-industrial complex, American political and financial overreach and many other issues that were on the big agenda. He even extended American overreach regarding taxation and misused executive orders more than any other US President in history. A vote for either the Dems or the Republicans probably will continue to make things only worse, as was the case under Bush and Obama. If there is any hope of a turnaround, then it rests with the Libertarians or the Greens. But I seriously doubt that they’ll be able to work miracles either.

By: Rachel Heller

Rachel Heller — Thu, 27 Oct 2016 21:51:44 +0000

In reply to JC Double Taxed. I think the lawsuits may be the only realistic chance of getting rid of FATCA. I just didn't want to wait all the years they will take to be resolved.

By: JC Double Taxed

JC Double Taxed — Thu, 27 Oct 2016 21:48:07 +0000

Nice. Nice series of blogs.

As the FATCA IGA’s were not submitted to the US Senate for approval (as international treaties), their legality is based on Executive Order. Trump said that he would get rid of the unconstitutional executive orders covering a range of areas. So with Trump elected FATCA IGAs can be recinded even without any agreements with the Senate and House. One commentator said that the FATCA Executive Order may be ended with one year notice.

I am not sure I agree with the view that if Clinton is elected it would be business as usual. She wants to raise taxes, including lowing the death tax exemption. So it appears that there will be more burden on overseas US persons.

A fine point of the FATCA SCE: yes this may mean more paperwork for US persons overseas (& no help to accidentals). Yet not considered is the extra paperwork for the banks, extra “If then” paperwork, new account procedures, and changes in computer databases, which may mean more of the consequences you mention.

The Republicans Overseas do support a lawsuit that FATCA and FBAR are unconstitutional on 8 claims fatcalegalaction. The Democrats will not even mention the FBAR part of the injustices. Also, I look forward to the ADCS Canadian FATCA IGA lawsuit proceeding and ADCT constitutional case against US Citizenship Based Taxation (Alliance for the Defeat of Citizenship based Taxation).

By: Shobha

Shobha — Thu, 27 Oct 2016 21:21:19 +0000

I don’t think I know anyone voting for Trump. And I know a lot of Americans living in London thanks to where we live. There are larger issues at stake than FATCA’s effect on overseas Americans. Frankly, if you are over with a company, the expat packages take care of most of the double taxation issues.

By: Neill

Neill — Thu, 27 Oct 2016 19:46:10 +0000

In reply to Rachel Heller.

By all measures the complexity of the US tax code is in a worldwide league of its own. Simplification is a must now. Your a victim of this.
Look carefully at Clinton’s tax proposal (I have). You will find many new levels of complexity.
Capping itemized deductions in a new way to go with the ways just added by Obama. Capping retirement plans in a way that generates massive complexity in the basis of plans.
6 new levels of capital gains tax to go with the two extra levels added by Obama.
An exit tax for corporations to stop them running away but nothing about changing the stuff they are running away from. This can go with the exit tax that Schumer wants to beef up to stop people like you running away. No mention of getting rid of the reasons you might want to run away.
Extra parallel tax called the Buffet rule to go with the parallel NIIT (net investment income tax) tax Obama added that’s crushing expats who file MFS. This goes with the 3 parallel taxes we had pre-Obama. Extra tax brackets/surtaxes on the wealthy.
Taking the estate tax into higher rates and more levels.
New tax on stock trades to go with the SEC tax we already have.
Thank god I don’t work anymore and can avoid much of this. I should thank Obama for showing me the error of my ways working for so long.