Category Archives: Taxation

Keeping The Competition OUT

EU, Free Markets, Internet, Regulation, Socialism, Taxation, Technology, The State

Under the guise of upholding a fair and free-market order, uncompetitive companies, given the option, will petition centrist establishments to regulate the market. This kneecaps the competition and ensures the lobbyists retain ‘market share’ without having to compete for it. This is what ETNO is doing.

“The ETNO,” informs RT, “is made up of telecommunication companies including Swisscom and Spain’s Telefonica that are well-established in nearly three dozen European countries.” The ETNO’s Executive Board, which is a European-based lobby group, “has asked the United Nations to tax American websites that provide services abroad.”

In December, the leak reveals, the European Telecommunications Network Operators Association (ETNO) approached the United Nations with a proposal that would outline a restructuring of the Internet’s business model when taking into account Web entities with an international presence. If approved, the legislation would tax American-based content providers — such as Apple, Google and Netflix — for offering services to customers overseas. Should they get their wish, the ETNO might soon usher in some serious revisions for the International Telecommunications Regulations (ITR), a legislation that deals with cross-border communications traffic that has remained untouched since its last revision in 1988.


MORE.

Americans Abroad ‘Banking Under the Mattress’

Media, Regulation, Taxation, The State

Is Big Media catching up with guerrilla writers? In “Planet IRS,” just over two weeks ago, I wrote that “[d]ue to the onerous burdens imposed by the Foreign Account Tax Compliance Act, foreign banks, as well as hedge and private equity funds are closing American accounts. Barack Obama’s legislative baby (signed on March 18, 2010) is driving Americans abroad into banking under the mattress.”

Today Bloomberg caught up, in “U.S. Millionaires Told Go Away as Tax Evasion Rule Looms.”:

Go away, American millionaires.
That’s what some of the world’s largest wealth-management firms are saying ahead of Washington’s implementation of the Foreign Account Tax Compliance Act, known as Fatca, which seeks to prevent tax evasion by Americans with offshore accounts. HSBC Holdings Plc (HSBA), Deutsche Bank AG, Bank of Singapore Ltd. and DBS Group Holdings Ltd. (DBS) all say they have turned away business.
“I don’t open U.S. accounts, period,” said Su Shan Tan, head of private banking at Singapore-based DBS, Southeast Asia’s largest lender, who described regulatory attitudes toward U.S. clients as “Draconian.”

Oh dear. We’re usually years ahead of mainstream (as in this September 19, 2002, article).

UPDATE III: Planet IRS (Police State USA)

English, Europe, Human Accomplishment, Ilana Mercer, IMMIGRATION, Literature, Media, Private Property, Regulation, South-Africa, Taxation

The following is excerpted from my new, weekly column, “Planet IRS”:

“You can check-out any time you like, but you can never leave!” Those are the chorus lyrics to Hotel California,” the haunting rock classic by the Eagles.

Americans who try “running for the door”—in the evocative words of Glenn Frey, and the Dons Felder and Henley—soon discover that they “are all just prisoners here …”

Prisoners of Uncle Sam’s device.

If he can tolerate TSA assaults as he departs the country, an American who chooses to live and work overseas cannot escape the Internal Revenue Service. The United States is perhaps the only country “to tax its citizens on income earned while they’re living abroad.”

To loss of privacy and property, add the prospect of prison—and you get why, as Reuters has reported, droves of Americans are “renouncing their U.S. citizenship or handing in their Green Cards.”

On pain of criminal charges and “penalties of up to $100,000 or 50 percent of undeclared accounts, whichever is larger,” the expatriate must report his own bank accounts and all conjoint accounts—a spouse, a client, or business partners.

The victims of this shakedown are residents who have foreign bank accounts (the Canadian equivalent of a small USA 401K, in this scribe’s case), in addition to “an estimated 6.3 million U.S. citizens living abroad.” The aims of their pursuers, the IRS, are control and compliance. The rogue agency’s source of revenue, in this context, is derived primarily from penalties for forgetfulness or faulty filing.

All fear bankrupting fines, even imprisonment.” …

Click on the link to read the complete column, “Planet IRS.”

If you’d like to feature this column in or on your publication (paper pr pixels), contact ilana@ilanamercer.com.

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UPDATE I: On Facebook, Anthony Michael Miceli writes this: “You’re one of the most honest writers that is publicly known. This and a lot of your work SHOULD be carried by major newspapers but when most are controlled by just a handful of corporations the writing and thought pool becomes the same incestuous crap ppl haven been exposed to for years.”

I reply: It takes concerted pressure from readers like yourself, AMM, to sway the editorial gatekeepers across the country. What should irk you is not that opinion such as mine (also yours) is shunned; it’s the mediocrity and piss-poor, unimaginative writing that is embraced instead. Also, to help restore standards, let us separate writers from TV show men and women. Let us restore the division of labor. Only a few people manage to straddle both worlds (Ann Coulter, for instance, who is a Republican through-and-through). Most TV showmen with a large presence, or politicians, ain’t writers.

UPDATE II: I shouldn’t, but I will. I mean, there is a need to say IT, simply because few know better. And, after all, to a contemporary journalism teacher, instructing the aspiring young writer, creativity equals, “Sharing your passion” (“I love myself, and my dog, and me again”), “showing your feelings (“I feel like Obama is trying to feel for us, but like…”). So, you need to hear this from someone who learned the hard way (from tough veterans):

The lead to this column (used to be written “lede”), the Hotel California segue, is bloody good. Just saying.

UPDATE III: An example of the above necessary division of labor: Judge Napolitano. Great orator; poor writer.

UPDATED: IRS Survivors (Fleeing Police State USA)

Founding Fathers, Ilana Mercer, Law, Liberty, Natural Law, Taxation

Writer Christopher Sandford describes his interactions with the Internal Revenue Service as “dealing with a simultaneously incompetent and psychotically aggressive opponent.” “What is beyond a doubt is that our relentlessly progressive and humanely empathetic leader had done precious little for the rights of those of us who find ourselves caught in the spokes of his infernal government machinery. Indeed, he and his government myrmidons have frequently spoken of their intention to pursue the allegedly noncompliant taxpayer to the very brink of that unhappy individuals’ endurance and sanity. That most certainly is part of Obama’s record.” (Writing in the April issue of Chronicles Magazine.)

“Think the IRS can’t send you to prison?,” warns CBS’ Survivor winner Richard Hatch in a timely television commercial. “The IRS sends people to prison and they’re not celebrities. If you owe the IRS $10,000 or more, call for your free tax consultation NOW. Listen, I went to prison for over four years, and you don’t want to,” Hatch tells potential victims.

The US government exercises a brutal tax-enforcement regimen. As a police state, it regularly finds citizens guilty of crimes absent the intent to commit a crime—the legal imperative of mens rea.

The “taxpayer,” compliant or not, however, must accurately be described as an innocent, non-aggressive property owner, who has the natural right to keep what he has worked for, or what was voluntarily bequeathed to him.

In the case of the so-called “non-compliant” victim of this armed and dangerous syndicate—the state—his actions have been criminalized, even though his alleged crime, more often than not, was unintentional; he did not mean to “deprive” his masters of the spoils of his labor.

Going by Thomas Jefferson, we live under tyranny, for as this founder said, “When the people fear their government, there is tyranny; when the government fears the people, there is liberty.”

UPDATED (April 17): Fleeing Police State USA. Special Report: Tax time pushes some Americans to take a hike.