Introduction
The intellectual mentors of #FATCA proponent @Ewarren explain why @citizenship tax is NECESSARY to underpin a #wealthtax in America: "Wealth taxes often failed in Europe. They wouldn’t here." https://t.co/jw40PQpYm9
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) December 20, 2019
Citizenship-based taxation, FATCA and how the interact can best be understood by Americans abroad.
The professors (who have clearly never lived under a citizenship taxation regime and have limited understanding of FATCA) explain the relationship between U.S. citizenship-based taxation and the success of a – “Made In The USA” wealth tax – in the article which includes:
The situation in the United States is different. You can’t shirk your tax responsibilities by moving, because U.S. citizens are responsible to the Internal Revenue Service no matter where they live. The only way to escape the IRS is to renounce citizenship, an extreme move that in both Warren’s and Sanders’s plans would trigger a large exit tax of 40 percent on net worth.
Some people tweet. Some people tweet for fun. Some people tweet to educate.
The purpose this post is to collect the series of tweets that Laura Snyder complied to provide a higher level of education to the professors.
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1/36
1/36 @gabriel_zucman #EmmanuelSaez@ewarren proposes to pay 4 #M4All in part by “strengthen[ing] enforcement” of #FATCA. https://t.co/LxWPj1MhnA #americansabroad #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
2/36
2/36 @gabriel_zucman #EmmanuelSaez
Ur 2019 confpaper states p26 “In contrast US took bold step in enforcement with #FACTA that imposes steep penalties on foreign financial institutions that fail 2 report accounts of *US residents* 2 US tax authorities.” #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
3/36
3/36 @gabriel_zucman #EmmanuelSaez
That statement is highly misleading. In fact, #FATCA requires FFIs 2 report accounts not just of US residents but also of **persons who live outside US** + who in many cases have little 2 do with US #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
4/36
4/36 @gabriel_zucman #EmmanuelSaez
This creates all kinds of problems 4 these people. This is well-documented in multitude of surveys. Here is one example–survey of 9,885 #americansabroad in 123 countries by @DemsAbroad: https://t.co/eckxSBaHH9 #fatca #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
5/36
5/36 @gabriel_zucman #EmmanuelSaez
Here is second example, my own survey: https://t.co/dr8Q2AljXi #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
6/36
6/36 @gabriel_zucman #EmmanuelSaez
You can also read about my survey here, “I Feel Threatened by my Own Identity” https://t.co/7mIKO8CJCD #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
7/36
The link to the conference paper in this link has expired. Here is the new updated link: https://t.co/VrA3v1unNp https://t.co/oV2xQXbX9W
— John Richardson – lawyer for "U.S. persons" abroad (@ExpatriationLaw) December 20, 2019
7/36 @gabriel_zucman #EmmanuelSaez
And you can read about my survey in this conference paper “Dispelling the Myth of the Wealthy American Expat, or Are Americans Free to Live Outside the United States?” https://t.co/Yt5KZUPsj0 #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
8/36
8/36 @gabriel_zucman #EmmanuelSaez
In your book (p 65-66) you discuss #FATCA using words such as “exchange” + “cooperation.” Your vague language implies FATCA is reciprocal but it is not. #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
9/36
9/36 @gabriel_zucman #EmmanuelSaez
In reality US refuses 2 provide 2 other countries information about bank accounts their citizens hold in US. https://t.co/k9N1kv3cFL #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
10/36
10/36 @gabriel_zucman #EmmanuelSaez
This is in large part why today US is world’s largest tax haven. Your book discusses tax havens in detail w/o single mention of US being among world's most importanthttps://t.co/VLQDsvZlKp #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
11/36
11/36 @gabriel_zucman #EmmanuelSaez
US ranks second after Switzerland on the Tax Justice Network’s Financial Secrecy Index. https://t.co/sUSnq9bZBX #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
12/36
12/36 @gabriel_zucman #EmmanuelSaez
“US is becoming last major jurisdiction where non-US person can hide assets f/ tax authorities of his country of domicile…US is becoming Switzerland of 21st century” https://t.co/85zHzy9Psv #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
13/36
13/36 @gabriel_zucman #EmmanuelSaez
U r aware France does not tax its overseas citizens 2 fund health care. But under @ewarren ‘s proposal #M4All it’s fine 4 US 2 seek 2 have its overseas citizens fund #M4A in US. #FATCA #citizenshiptax #Americansabroad
— Laura Snyder (@TAPInternation) November 23, 2019
14/36
14/36 @gabriel_zucman #EmmanuelSaez
You r advocating France does same w/ its overseas citizens, right? So u can pay French social charges on your US salaries? If not, wouldn’t it be consistent for u 2 do so?#fatca #americansabroad #citizenshiptax #M4All
— Laura Snyder (@TAPInternation) November 23, 2019
15/36
15/36 @gabriel_zucman #EmmanuelSaez
Many in US have trouble understanding y anyone would live outside US given it is best country in world. They assume any US citizen who does is wealthy+their only purpose is 2 avoid US taxation #fatca #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
16/36
16/36 @gabriel_zucman #EmmanuelSaez
U live outside your home country. U should b able 2 understand how+why is legitimate 4 Americans 2 live outside US. This does not make them necessarily wealthy nor tax cheats. see p7-9: https://t.co/M9sg8elWJ2 #fatca #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
17/36
17/36 @gabriel_zucman #EmmanuelSaez
Ur work does not address problem of extraterritorial application of US law @regisbismuth “les États-Unis usent de leur puissance économique pour assurer l'extraterritorialité de leur droit”https://t.co/CnCYWiOxxY #fatca #M4All
— Laura Snyder (@TAPInternation) November 23, 2019
18/36
18/36 @gabriel_zucman #EmmanuelSaez @regisbismuth "#FATCA [est] dispositif à portée extraterritoriale sans précédent qui affecte directement+sur une très large échelle un nombre significatif de personnes qui n’ont plus de lien avec US" https://t.co/OMItEjiO25 #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
19/36
19/36 @gabriel_zucman #EmmanuelSaez
Also @regisbismuth "#FATCA soulève sérieuses interrogations quant à compatibilité avec droit à vie privée et droit européen de protection des données. Il génère des discriminations fondées sur nationalité..difficilement justifiables" #M4All
— Laura Snyder (@TAPInternation) November 23, 2019
20/36
20/36 @gabriel_zucman #EmmanuelSaez
These claims r repeated in petition 2 EU Parliament-#FATCA violates fundamental principles of European law: right 2 respect 4 private+family life, prohibition of discrimination, data privacy+Payment Accounts Directive #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
21/36
21/36 Link to EU petition: https://t.co/b7J5DOHlPz #FATCA #eulaw #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
22/36
22/36 @gabriel_zucman #EmmanuelSaez
Are you aware that a hearing in relation to #FATCA was held on 12 Nov 2019 in EU Parliament?https://t.co/HbXTSMfuQA #americansabroad #M4All #citizenshiptax #eulaw
— Laura Snyder (@TAPInternation) November 23, 2019
23/36
23/36 @gabriel_zucman #EmmanuelSaez
Here is video with Petitioner + Member of European Parliament @Jude_KD commenting on #FATCA after the hearinghttps://t.co/qd5HhbOZbX #americansabroad #M4All #citizenshiptax #eulaw
— Laura Snyder (@TAPInternation) November 23, 2019
24/36
24/36 @gabriel_zucman #EmmanuelSaez
And here is another Member of European Parliament @SophieintVeld commenting on #FATCA after the hearinghttps://t.co/rgsfQodMOe #americansabroad #M4All #citizenshiptax #eulaw
— Laura Snyder (@TAPInternation) November 23, 2019
25/36
25/36 @gabriel_zucman #EmmanuelSaez
Nothing in your work acknowledges doc about #FATCA published by EU’s Policy Department for Citizens’ Rights and Constitutional Affairshttps://t.co/Ogeojrpmbb #americansabroad #M4All #citizenshiptax #eulaw
— Laura Snyder (@TAPInternation) November 23, 2019
26/36
26/36 @gabriel_zucman #EmmanuelSaez
This doc explains lack of reciprocity (p22-23) details the negative effects of #FATCA on EU citizens (p23-25) + on US citizens abroad (p26-28) + explains how FATCA conflicts w/ #EUlaw (p29-37) #americansabroad #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
27/36
27/36 @gabriel_zucman #EmmanuelSaez
Nothing in your work acknowledges 2019 French Parliamentary report «Des milliers de Français binationaux…font face à de considérables injustices en matière bancaire et fiscale» https://t.co/1rQjesDMSi #fatca #M4All #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
28/36
28/36 @gabriel_zucman #EmmanuelSaez
Ur2019 confpaper strongly supports imposing US taxation on persons who do not live in US. @ewarren‘s proposal4 paying4 #M4all includes “strengthen reporting requirements 4 international income” #fatca #M4All #citizenshiptax #americansabroad
— Laura Snyder (@TAPInternation) November 23, 2019
29/36
29/36 @gabriel_zucman #EmmanuelSaez
Yet nothing in your work addresses either very serious obstacles that #americansabroad face in completing US tax returns nor very serious deficiencies in IRS services to #overseastaxpayers. #FATCA #M4A #citizenshiptax
— Laura Snyder (@TAPInternation) November 23, 2019
30/36
30/36 @gabriel_zucman #EmmanuelSaez
National Taxpayer Advocate has detailed these deficiencies in a multitude of reports, such as this one dating back to 2015 https://t.co/QkWY8YiTi8 #fatca #M4All #citizenshiptax #americansabroad
— Laura Snyder (@TAPInternation) November 23, 2019
31/36
31/36 @gabriel_zucman #EmmanuelSaez
Every single problem documented in NTA's 2015 report remains true today; IRS has not addressed a single problem. TIGTA report from 2015 documents additional problemshttps://t.co/aFKEMMMrZ2 #fatca #M4All #citizenshiptax #americansabroad
— Laura Snyder (@TAPInternation) November 23, 2019
32/36
32/36 @gabriel_zucman #EmmanuelSaez
You cannot advocate 4 increased enforcement of taxation of people who do not live in US w/o also seeking 2 end obstacles they face + discriminatory practices by IRS in violation of Taxpayer Bill of Rightshttps://t.co/UxfEQI9nBt #fatca #M4A
— Laura Snyder (@TAPInternation) November 23, 2019
33/36
33/36 @gabriel_zucman #EmmanuelSaez @ExpatriationLaw “Congress cannot do things that result in forcible destruction of citizenship. What is happening 2 #Americansabroad today is forcible destruction of citizenship”18:30 https://t.co/fw8f6WAJPw #citizenshiptax #FATCA #M4A
— Laura Snyder (@TAPInternation) November 23, 2019
34/36
34/36 @gabriel_zucman #EmmanuelSaez
During several years many #Americansabroad informed you of problems. U ignore + belittle their problems. How many must b affected 4 u 2 pay attention + acknowledge problems? Not rhetorical question: how many? #citizenshiptax #FATCA #M4A
— Laura Snyder (@TAPInternation) November 23, 2019
35/36
35/36 @gabriel_zucman #EmmanuelSaez
It is your prerogative 2 disagree. But as scholars (if you purport 2 b such) is not your prerogative 2 ignore. Your failure 2 confront this material seriously detracts f/ the scholarship of ur work #fatca #M4A #citizenshiptax #americansabroad
— Laura Snyder (@TAPInternation) November 23, 2019
36/36
36/36 @gabriel_zucman #EmmanuelSaez
Je me serais attendu à ce que «homeland Americans» ignorent documents issus des institutions françaises+européenne Mais je ne l'aurais jamais attendu des français,même ceux aussi confortablement installés dans bulle américaine #fatca #M4A
— Laura Snyder (@TAPInternation) November 23, 2019