Socialist luminaries and international bureaucrats at various outfits funded primarily by U.S. taxpayers are seizing on a “devastating” new American taxation scheme, known as the Foreign Account Tax Compliance Act, or FATCA, to help foist a radical tax information-sharing regime on the world. The repercussions for Americans and people around the globe — especially when it comes to financial privacy and economic freedom — will be crushing, experts argue. Analysts say the end goal, meanwhile, is the creation of a planetary taxation authority.
Leading the charge to create the new global tax regime is the Group of 20 (G-20), a coalition of governments and brutal dictatorships that are in the process of building what virtually every major media outlet recently described as a “New World Order.” Top officials in the outfit, which includes the ruthless Communist regime ruling mainland China, among other barbaric autocracies, publicly announced a plot in recent years to share financial data and more on all citizens with each other. The goal, for now: extract as much wealth as possible.
To implement what critics call their nightmarish vision of a “World Tax Organization” — supposedly aimed at stopping tax evasion — the G-20 asked the United Nations-linked Organization for Economic Co-operation and Development (OECD) to take the lead. The widely criticized “cartel” of tax-hungry politicians, infamous primarily for fanatical efforts to crush national sovereignty and for bullying jurisdictions with relatively low taxes into surrendering their competitive advantage, is now working to develop the taxation regime and prod its member governments into adopting it.
Meanwhile, the inspiration and model for the global information-sharing scheme, OECD bosses admit, is FATCA. “A key catalyst for automatic exchange of information and the on-going OECD work has been the FATCA legislation enacted by the United States in 2010,” the international outfit said last year in a brief, adding that the plot also has the ardent support of central bankers and G-20 regimes. In fact, the brief explains, FATCA pseudo-treaties between the Obama administration and foreign governments — unconstitutional under the U.S. Constitution, critics say — will even serve as the “model” and “template” for the global regime.
The deeply controversial U.S. tax scheme, adopted in 2010 as part of an Obama administration “stimulus” ploy, is working to turn foreign governments and financial institutions into unpaid agents of the IRS. It is also causing havoc for middle-class Americans abroad. Despite mounting outrage and growing efforts to repeal FATCA or challenge it on constitutional grounds, it is set to go into effect in mid-2014. Critics are already warning of economic and human devastation. At the OECD and the G-20, though, top officials are hoping to spread the misery worldwide in the scramble to extract more wealth from the public.
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