I don't know how much taxation on pot is going to bring in for them- but I find it absolutely scandalous the FATCA laws going into effect in a couple
of days! Dosn't seem to be much talk about it here, but it is a total catastrophy for me and my family.
I will be giving up my nationality, as will my children, as a result, and it is heartbreaking and traumatic for us!
We've been a struggling family for years, our account more often in the red than not, so we are not the tax evaders the laws were set up to find. But
we bought a house, and now I work, and my children are starting to work for a living, and with the large income taxes we pay in France, we cannot
afford to be paying the american taxes as well.
We'll still be fined for back taxes and not having paid them when we got our mortgage- people we know are just suddenly having their accounts seized
by the US government. They even came up with the term "US persons", so that they can take money from people who don't actually have american
nationality. Like if you are french, but have a kid currently doing a student exchange program in the US, they can seize your account.
In France, we get lots in return for our tax money. We get ABSOLUTELY NOTHING in return for the american tax we will be paying. We do not use the
roads, utilities, or schools, etc. We do not benefit from the military and police protection.
I cannot understand how one country can obligate others to do a service for them! The american government has put the european banks under obligation
to give them all account information for their clients, under threat of large fines. Do the american banks offer the same service to those banks?
Sorry for being off subject. My point was- the american government is finding LOTS of ways to stretch it's fingers all over the globe and grab money
from everyone it can.
edit on 25-6-2014 by Bluesma because: (no reason given)