July 1 | Bill H. R. 2847 | FATCA | Is it Bad?

Occupy fist

“But back to FATCA. Yes, it will be bad for the dollar, bad for U.S. assets and the U.S. economy.”–Money News

This article at Moneynews  tells you why:


“Why is all of this happening now? Remember, the United States has enormous debts that are growing massively on a daily basis. Also, the tax receipts that the government takes in aren’t high enough to meet their outgo.

So what does the government do to help rake in more cash? They go searching for the money abroad.

The more indebted our government gets, the more aggressive and unreasonable they’re going to be on the public”

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/SeanHyman/Foreign-Account-Tax-Compliance-Act-FATCA/2014/05/24/id/573219#ixzz34HznwpTc

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