Posted Apr 8, 2014 by Martin Armstrong
The US has been hunting down American citizens on a worldwide basis. Individuals can not expand their business overseas and Congress has destroyed American entrepreneurship on a grand scale. The ONLY Americans who operate overseas are now the MAJOR public corporations since there is a presumption that they are not hiding money – only individuals would do that. However, Reuters is reporting that while US cash is at record highs of $1.64 trillion, the foreign profits held overseas by the major American corporations to avoid taxes at home has nearly doubled from 2008 to 2013 to and exceeds $2 trillion.
FATCA has established the same type of system as Russia – the oligarchy. Where small business cannot compete against the oligarchs in Russia, the same is now happening domestically. Then people like McCain want to force small business to collect every state’s sales tax under penalty of law, yet with no compensation for the administrative burden.
ONLY the major big multinational can function overseas. Everyone else in American has been block by Harry Reid’s dream of “social justice” creating Tax-Disneyland by hunting American and just seizing everything in sight to fund his own lavish retirement for he became the leader of the Senate in January 2007 in time to help create the crash. Reid does not go after those who are the big contributors. He never once demanded the NY culprits be prosecuted. If he is well paid-off, he attacks the middle class and prevent small business from competing against his contributors.