Their faces tell the story. They show the real victims of the Foreign Account Tax Compliance Act (FATCA).
The We Are Not A Myth Portrait Protest shows the world U.S. Treasury's Myth vs. FATCA document released by Robert Stack for what it actually is: A Stack of Lies.
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Their faces tell the story. They show the real victims of the Foreign Account Tax Compliance Act (FATCA).
They include everyone from a mom and toddler in Britain to seniors in Canada. They range from a group of protesters on Parliament Hill in Ottawa to a U.S. military veteran in Switzerland who was forced to renounce U.S. citizenship to protect his Swiss family and the mortgage on his Swiss home.
The We Are Not A Myth Portrait Protest shows the world the Myth vs FATCA document released by Robert Stack, Assistant Deputy Secretary of U.S. Treasury, for what it actually is. A Stack of Lies.
These people are not myths. They are real human beings with no economic ties to United States. They are not tax cheats or tax evaders. They are not criminals. They are people of modest means who pay taxes in the countries where they live and work--and where most are citizens of those countries.
They are young Canadians whose Registered Education Savings Plans (RESP) may be reported to United States Internal Revenue Service simply because a parent was born in United States. They are grandparents, husbands, wives, mothers, and fathers, determined to protect their families who have no connection to United States.
They include a man with a developmental delay. The U.S. will not allow him to renounce U.S. citizenship because of "mental incapacity." His only connection to United States is that his mother was born there 70 years ago. U.S. has refused his mother the right as his guardian to renounce U.S. citizenship for him. She worries the disability savings she has sent aside for him with the encouragement of her government will be vulnerable to demands of FATCA.
A woman in New Zealand is threatened by FATCA simply because she lived in United States for four years 20 years ago.
A dual Swedish-American citizen states the obvious. "People do not move to Sweden to avoid taxation." A modest income grandfather asks "Why is the America I love doing this to us?"
These people have come together in the We Are Not A Myth Portrait Protest. Some show their full facial image. Others have partially hidden their faces out of fear of retaliation or concern their banks may identify them as "U.S. persons" and report them to IRS. Many more are choosing not to participate in the Portrait Protest for fear of "outing" themselves.
FATCA is an American law intended to combat offshore tax evasion. It expects every financial institution on the planet to identify "US persons" among their customers and report to IRS on total assets, account balances, transactions, account numbers, income, and other personal-identifying information.
"US person" includes anyone born in United States, Green Card holders, individuals with a "substantial presence" in U.S., and others.
The definition is so broad it includes the King of Thailand, the Mayor of London, England, and the Premier of New Brunswick simply because they were born in the United States. It even encompasses some Canadian snowbirds who help support U.S. economy by spending winters in southern states.
The reality is a law intended to combat offshore tax evasion by people living in United States is instead snaring honest citizens and residents around the world. This is no myth.
Millions of people around the world are affected by FATCA. Some have had their legal bank accounts closed simply because they were born in United States.
People have had many sleepless nights from FATCA looming over them. Marriages have been strained and some have broken up. Health and careers have been affected. Some have even contemplated suicide. Yet, these people have done nothing wrong. They are most definitely not myths.
We Are Not a Myth Portrait Protest was launched and is being coordinated by a Canadian stay-at-home mother who recently relinquished American citizenship to protect her Canadian family. She has been contacted by many people who may be too frightened to post on websites or to share their pictures, but e-mail her to thank her "for what you are doing."
Anyone wanting to join
We Are Not A Myth Portrait Protest can add their photo and comment directly at Tumblr or e-mail it to "atticusincanada at gmail dot com" and she will do it for you.
Mr. Stack, U.S. Treasury, and IRS are convinced these honest, productive people are hiding "illicit activities" in their legal checking accounts where they live. They insist these individuals must be trying to evade taxes by saving for education of children born and raised outside United States and for retirement in the county where they work and actually plan to retire (or have already retired).
Mr. Stack, instead of chasing phantom "myths" around the world, US Treasury and IRS would be far better served by concentrating on real tax cheats closer to home. You could start with Secretary of Commerce, Penny Pritzker, who neglected to report $80 million in income to IRS due to a "clerical error."
Mr. Stack, you could focus on the real intent of FATCA. You could go after people living in United States with money stashed in real tax havens. Don't forget, your own Secretary of Treasury had $56,000 in investments in the Cayman Islands in the very building President Obama called "the largest tax scam in the world."
Mr. Stack, you could garnishee the wages of 311,566 federal-government employees who owe $3.5 billion to the IRS. You can find them at IRS, Treasury, Congress, White House, and other government locations.
Mr. Stack, you could stop fraudulent refunds to prison inmates. One year this was $757 million--close to the amount you claim you may raise per year from your FATCA Attack on honest Americans abroad.
Mr. Stack, you could stop the "epidemic" of identity-theft fraudulent claims. Treasury Inspector General for Tax Administration estimates $5.1 billion was paid in 2011 and projects $21 billion over the next five years. Yet, you expand massive energy and money on FATCA that is predicted to give you under $800 million per year or $8 billion over 10 years.
Mr. Stack, why are you so determined to focus so much time, energy, and money on people whose only crime is to have the audacity to live outside United States and have legal bank accounts and investments where they live?
Mr. Stack, can you seriously look at the faces of We Are Not A Myth Portraits, read their comments and call these people tax cheats?
Mr. Stack, please take the time to look at them. After doing that, if you still insist they and the FATCA problems you have wrought on them are "myths," US Treasury is even more of a corrupt bully than I thought.
But, of course that's what bullies do. They harass the little guys while ignoring anyone they think will stand up to them.
Mr. Stack, I have news for you. We are and will stand up to you. That is no myth.
Authors Website: http://maplesandbox.ca
Authors Bio:Lynne Swanson is a retired human resources manager, writer and blogger. Born and raised in Pennsylvania, she has been a Canadian citizen for 40 years.