Slow news day, but I found two unrelated articles that may, indeed, have very much in common.
Nick Allen, of The Telegraph via Drudge reports that “Bo, the president's Portuguese Water Dog, arrived separately on one of two MV-22 Ospreys, a hybrid aircraft which takes off like a helicopter but flies like a plane.”
The pet was accompanying the incumbent who’s on a vacation from his grueling speechmaking gigs, along with Secret Service agents that booked more than 70 hotel rooms, each costing up to $345 a night. They also took care of the luggage “including two large mesh bags full of "basketballs.”
What the incumbent also ducked out on as usual, are debates over the budget, government surveillance and his health care reforms.
At the same time, according to The Wall Street Journal via foxnews.com/politics: ”Globally, more U.S. citizens have renounced their citizenship in the first and second quarters than all of 2012 combined, and 2013 is already on track to becoming a record year for renunciations”
Andrew Mitchel, a tax lawyer who tracks the data, says 1,130 people have notified the IRS, far above the previous high of 679, set in the first quarter, and more than were reported in all of 2012.
There are an estimated six million Americans living abroad, but the main trigger for cutting ties with the U.S. now is likely the recent Foreign Account Tax Compliance Act (Fatca) requiring foreign institutions to disclose the overseas assets of U.S. green-card holders and citizens to the U.S. government.
Congress estimates tax evasion by U.S. citizens results in losses of up to $100 billion a year, thus the main objective of Fatca is to identify people who may be evading taxes through offshore investment vehicles.
So, putting these two items together, I wonder if folks who “avoided” taxes previously by legally parking funds overseas and are now facing new laws that prohibit the practice. have decided U.S. citizenship isn’t worth the cost any longer.
Especially so when they read about how their hard-earned dollars are being spent.
Therefore, it seems to me that when the nation’s “leader” packs up for a weeklong trip, requiring among other things 70 expensive hotel rooms just for protection, I’m not so sure that’s the wisest investment of taxpayer’s funds.
Which means that, although the vast majority of citizens don’t have an iota of the kind of bucks that justify any kind of foreign relocation, my bet is that every time they read about the frivolous, uncaring waste of money this administration’s responsible for, they’d like to leave anyway.
That’s it for today folks.
Adios
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