Uncle Sam’s $8 Trillion Annual Debt Churn: Why Washington Is Pertrified Of Honest Interest Rates

By Michael Snyder I know that headline sounds completely outrageous.  But it is actually true.  The U.S. government is borrowing about 8 trillion dollars a year, and you are about to see the hard numbers that prove this.  When discussing the national debt, most people tend to only focus on the amount that it increases […]

US cracks down on ‘unpatriotic’ corporations’ tax inversion deals

The American corporations labeled unpatriotic for exploiting loopholes to avoid US taxes may see the so-called tax inversion schemes much less lucrative with the new rules announced by the US Treasury to crack down on the practice. The American corporations labeled unpatriotic for exploiting loopholes to avoid US taxes may see the so-called tax inversion […]

The IMF wants you to pay 71% income tax

When the IMF suggests increases in tax rates potentially as high as 71%, we should listen.  The IMF has been at the forefront of global financial political agendas such as the one world currency (SDRs), default of the USD from the Gold standard (thus creating Forex market), and the backing of international ‘death’ loans as […]

Overcomplicated US Tax Code has 4 Million words

The US tax code has over 4 million words, since 2001 Congress has made over 5,000 changes to it.  It’s the equivalent of 7x the words from War and Peace, and 4x the number of words in all Harry Potter books combined.Each year taxpayer advocate Nina Olsen prepares a report and delivers it to Congress, […]

US Citizens face complex problems overseas due to FATCA

While FATCA was signed into law in 2010, many of the rules didn’t come into effect until 2013.  Now many US Citizens living abroad are feeling the effects of FATCA.  Also a ‘blowback’ effect has occurred, many foreign institutions not willing to deal with the complexities of the new rules have simply chosen to ban […]

Puerto Rico Tax Research

One hedge-fund manager, Pascal Forest, has taken the additional step of setting up his firm, Forest Investments LLC, in San Juan. Forest, a former portfolio manager at London-based BlueGold Capital Management LLP, said the tax incentives played into his decision to move to the island, as did his wife, who is Puerto Rican and wanted […]

Germany’s Merkel Is Key to Currency-Trading Levy

German Chancellor Angela Merkel’s choice of coalition partner will play a key role in deciding how far the foreign-exchange market is burdened by a proposed financial-transactions tax in 11 European Union states. Merkel, who last year backed a European Commission plan for a broad-based tax on trades in stocks, bonds, derivatives and other assets, is […]

Debunking American Tax Myths

The US Tax system is one of the most complicated and least understood in the world.  Yet it’s really very simple.  But like with everything American, capitalism has made a business out of tax preparation ‘the tax industry’. First, let’s understand a key difference between TAX AVOIDANCE and TAX EVASION. Tax Evasion is ILLEGAL, and […]

The Only Legal Way to Escape US Taxes Besides Death and Renunciation

Sep 18, 2013 – 09:37 PM GMT By Nick Giambruno, Editor, International Man When I hear about strategies that purport to legally allow US citizens to avoid having to pay income taxes, the first thing that usually comes to mind is that it is some sort of dodgy cockamamie scheme. This is because the US […]

IRS Research

The IRS is cracking down on small businesses The IRS says it is trying to identify businesses that get “an unusually high portion” of their reported sales through credit card transactions. The thinking is that a lot of cash transactions might be going unreported. To decide who gets letters, the IRS compares a business’s credit […]

FATCA and the End of Banking Secrecy

Cezary Blaszczyk writes: Among the many recent revelations about American surveillance operations was the fact that, according to Der Spiegel, the U.S. intelligence apparatus “not only conducted online surveillance of European citizens, but also appears to have specifically targeted buildings housing European Union institutions,” Few, if any, of those commenting of late on such affairs […]