UK Prime Minister David Cameron reflects the serious problem we have with politicians. Politicians have ZERO respect for our human rights for they only think about how they are going to raid our wealth to pay for their families and retirements at our expense. Cameron actually asked, “In our country, do we want to allow a means of communication we cannot read? My answer to that question is: ‘No, we must not’.” Continue reading
I have been warning for some time that government was eyeing up pensions.The amount in private pension funds is about $19.4 trillion. The question that has been debated in secret behind the curtain is how to justify to the people taking that over. I have been warning that if this is seized by government, it will come after 2015.75. Just how that is to be accomplished was finally settled by the Supreme Court without any justification constitutionally.
The US Supreme Court ruled last week in the unanimous, 8-page decision in Tibble v. Edison holding that employers have a duty to protect workers in their 401(k) plans from mutual funds that are too expensive or perform poorly. That is simply astonishing since there is no constitutional requirement for even government to provide social benefits. The Supreme court held in HARRIS v. McRAE, 448 U.S. 297 (1980) it was explained that the constitution is negative not positive. There is no duty imposed upon the state to provide a program for that would convert the constitution from a negative restrain upon government to a positive obligation to provide for everyone. Continue reading
One of our SMC members just received a package from HSBC giving him and his wife a deadline to comply with FATCA—US’ global tax law.
But suddenly they had just four weeks to prove that they were not US taxpayers, all because at one point they had purchased a service that gave them a US phone number.
And now they, as Canadian citizens and residents, have to submit a fully completed W8BEN IRS form, along with a government issued photo ID and a detailed letter of explanation to make it very clear that they were not in fact Americans.
It used to be that foreigners were vying to become US citizens, but today they’re begging not to be confused as one. Continue reading
Americans avoiding US taxes and stashing cash abroad are in trouble from July 1, when a new law forces institutions hiding money to report on their clients. The law will make business with Americans harder, but the US hopes it will raise billions.
The US Foreign Account Tax Compliance Act, or FATCA, comes into force on July 1 and requires foreign banks to hand over data on clients to the US International Revenue Service (IRS). If a bank does not report such information, it could be subject to a 30 percent withholding tax.
FATCA legislation, signed into law in 2010, requires overseas financial institutions to identify their American customers to the IRS. The law applies to any account with more than $50,000. Continue reading