URGENT WARNING U.S.A. to Invade Canada - AGAIN! any american abroad around the world be warned.

[RAFREE]

18. FATCA says it does one thing and does something entirely different

nenagh, I know Patricia. She is a 68 year old woman on a modest income living in a small town in Ontario. She is married to a Canadian who is outraged at all of this since it has cost them so much. They are NOT rich. This has cut into their modest retirement and now she is worried how they are going to make it. She is also not very well at all with multiple serious health issues. I will be seeing her again this coming Thursday.

My spouse too is Canadian. He makes all of our income at his Canadian job on Canadian soil. We pay our taxes gladly and in full to Canada. I would never owe any U.S. tax but, I got swept up in this too. My spouse refuses to give the U.S.A. a foreign nation to him his bank account data just because he is married to me. Had he married someone from any other nation on this planet except the U.S. and Eritrea this wouldn't be required of him or our son who is also not American. I renounced U.S. citizenship at the age of 55 years old to protect my family from this over reach. They could not bank the same as every other Canadian citizen any longer because of me and we are FAR from rich nor are we tax cheats.

I also spoke this week with a 77 year old man in my town. He was brought back to Canada at two months of age by his Canadian parents. As the U.S. did not used to allow dual he did not ever think he was a U.S. person. Because of FATCA he found out that he was and it cost him20,000 dollars to get out of this trap. I know the section of my town he lives in and it's not where the elite live by a long shot. Now he too is worried that this has cut into his retirement and how he will pay for it.

I also spoke just this week with someone whose 90 year old mother is in this mess. He has paid over 4000.00 to deal with this for her and is taking her to renounce her U.S. citizenship in the next ten days. She too would not ever have owed any taxes.

These people are NOT the Romney's of the world. Those people can pay expensive international tax attorney's to deal with whatever they need dealt with.

FATCA goes after a problem with a hammer and the problem with that is that it is whacking the innocent and many low to middle income seniors living in high tax countries like Canada are getting slammed hard. I have seen so many horrible situations over this now that I cannot believe this is what the U.S. intended. It seems they are saying "We're going after tax cheats" while who they are really harming is those with little power or influence to fight back. The uber wealthy and bankers are let off the hook. Bankers will pass any costs along to all their customers and the IGA's will cover their butts legally. Unfortunately for the lowly well, they will get slammed with fines and fees. 82 percent of all U.S. expats will never owe any U.S. taxes so what's up with all these penalties on foreign seniors, their foreign spouses and children too. FATCA is Orwellian in the extreme.