GOP Leaders Pushing Obama’s Global Taxation Schemes
by Alex Newman
TheNewAmerican.com
Friday, 24 June 2016
Faced with continued opposition from liberty-minded U.S. senators against a White House-backed global tax regime that shreds what remains of financial privacy, establishment Republican leaders in Congress are working overtime to get Obama’s schemes approved. Obama himself has been on the warpath, too, blasting Senator Rand Paul (R-Ky.) last month for his “quirky” opposition to obliterating the U.S. Constitution’s Fourth Amendment protections for privacy rights. When that failed, Senator Bob Corker (R-Tenn.) joined the fray, sending a factually challenged letter to fellow lawmakers urging them to help get Obama’s schemes approved as quickly as possible.
At the center of the controversy are various policy efforts that would rip up what remains of financial privacy while laying the foundation for a global taxation regime in which private information is automatically shared among governments and dictators. Underpinning it all is the Foreign Account Tax Compliance Act (FATCA), an obscure U.S. statute hidden in a 2010 Democrat “jobs” bill that basically tries to turn every bank and government in the world into an unpaid agent of Uncle Sam and the IRS. Under the measure, every bank on Earth is expected to spy on all of its American clients and surrender the information to Washington.
The Rest…HERE
