America's Monetary and Regulatory Berlin Wall - Todd Strandberg - http://www.raptureready.com/rap16.html
The United States has long been a favorite choice for people seeking to immigrate to a new nation. Nearly 46 million people currently living in the U.S. were born in other countries. They came to this land because of the promise of: "Life, Liberty and the pursuit of Happiness."
What helped make this dream possible is the understanding that the government is only there to serve the people. The Founding Fathers made this point clear in the Declaration of Independence by saying, "Whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government."
I wonder what the 56 signatures of the Declaration would think of our current government. The nasty letter they sent to King George-mostly over taxes-is minor by today's standards. In the Middle Ages, serfs were only required to pay 25 percent of their income to their feudal masters. Today, the kings of D.C. require some people to surrender half their income to the IRS.
The government has also added a huge burden on citizens in the amount of regulation it has generated. The American Action Forum tracks the growth of federal red tape. Here are some key data points:
In 2013, 80,224 pages of regulations were added to the Federal Register, a 3.8-percent increase over 2012. The number of "economically significant" regulations increased by 25 percent, and the number of rules imposing "unfunded mandates on states or private entities" grew by a third. It costs businesses $112 billion to process 157.9 million man-hours of paperwork.
A clear warning sign that our government is getting out-of-control is how it treats people who wish to escape the system. Less than two years ago, the form used to renounce one's citizenship was free of charge. Because the government claims there has been a sharp increase in its workload in processing people who wish to leave, in 2012, it added a $450 fee.
Now, the State Department has just raised the fee for renunciation to $2,350, which is a 522 percent increase. Critics note that the fee is more than twenty times the cost of other Western nations.
You don't just pay your toll and leave. People seeking expatriate status are required to accomplish four major steps before Uncle Sam will allow them to quit the club:
1. First, a lengthy form needs to be filled out. A detailed explanation why they want to leave this great nation must be provided.
2. They must prove 5 years of U.S. tax compliance. Any taxes owed will put the process on hold.
3. They are required to undergo a minimum of two intensive interviews. The second federal agent must review at least three consular systems before administering the oath of renunciation.
4. The final approval of the loss of nationality must go through a series of offices; meaning it may take several months of waiting before their American citizenship is voided.
Corporations are also seeking to change their nationality in greater numbers. At 40 percent, the U.S. has the highest corporate tax rate in the industrialized world. Last year, the pharmaceutical company, Actavis, moved from New Jersey to Ireland to take advantage of a 15 percent tax rate.
Burger King triggered a backlash in the press when the firm recently announced it plans to become a Canadian resident by merging with fast-food company, Tim Hortons. Senator Charles Schumer has called the move unpatriotic and is proposing a bill that would slap a hefty fine on any company that seeks to lower its tax burden by moving its headquarters to another country.
I don't begrudge any firm from trying to prevent their financial assets from being drained by the government. Congress has not passed a real federal budget in over 18 years. With the costs of Obamacare and a host of other programs set to soar in the coming years, I expect a flood of U.S. firms to jump ship.
Burger King isn't even an American company. It is mostly owned by 3G Capital, a Brazilian firm. The chain generated almost 60 percent of its revenues in the U.S. but it has reported just 20 percent of its profits come from this country. Washington should be more worried about firms like McDonald's, Coca-Cola and Yum Brands, which get 70 percent of their revenues, and nearly all their earnings outside the U.S.
I have to wonder if the State Department has any future plans to raise the fee for renunciation of U.S. citizenship in the future. There is nothing stopping them from increasing it to $5,000, $10,000 or even $100,000. I don't have any plans to switch my citizenship anytime soon, but it makes me very uncomfortable that the option is being taken away from me.
Conservatives have complained for years about the need for a secure border fence. They should be careful what they wish for because the day may come when our porous borders allows them to sneak out of the country without Big Brother finding out.
"Righteousness exalteth a nation: but sin is a reproach to any people" (Proverbs 14:34).
The United States has long been a favorite choice for people seeking to immigrate to a new nation. Nearly 46 million people currently living in the U.S. were born in other countries. They came to this land because of the promise of: "Life, Liberty and the pursuit of Happiness."
What helped make this dream possible is the understanding that the government is only there to serve the people. The Founding Fathers made this point clear in the Declaration of Independence by saying, "Whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government."
I wonder what the 56 signatures of the Declaration would think of our current government. The nasty letter they sent to King George-mostly over taxes-is minor by today's standards. In the Middle Ages, serfs were only required to pay 25 percent of their income to their feudal masters. Today, the kings of D.C. require some people to surrender half their income to the IRS.
The government has also added a huge burden on citizens in the amount of regulation it has generated. The American Action Forum tracks the growth of federal red tape. Here are some key data points:
In 2013, 80,224 pages of regulations were added to the Federal Register, a 3.8-percent increase over 2012. The number of "economically significant" regulations increased by 25 percent, and the number of rules imposing "unfunded mandates on states or private entities" grew by a third. It costs businesses $112 billion to process 157.9 million man-hours of paperwork.
A clear warning sign that our government is getting out-of-control is how it treats people who wish to escape the system. Less than two years ago, the form used to renounce one's citizenship was free of charge. Because the government claims there has been a sharp increase in its workload in processing people who wish to leave, in 2012, it added a $450 fee.
Now, the State Department has just raised the fee for renunciation to $2,350, which is a 522 percent increase. Critics note that the fee is more than twenty times the cost of other Western nations.
You don't just pay your toll and leave. People seeking expatriate status are required to accomplish four major steps before Uncle Sam will allow them to quit the club:
1. First, a lengthy form needs to be filled out. A detailed explanation why they want to leave this great nation must be provided.
2. They must prove 5 years of U.S. tax compliance. Any taxes owed will put the process on hold.
3. They are required to undergo a minimum of two intensive interviews. The second federal agent must review at least three consular systems before administering the oath of renunciation.
4. The final approval of the loss of nationality must go through a series of offices; meaning it may take several months of waiting before their American citizenship is voided.
Corporations are also seeking to change their nationality in greater numbers. At 40 percent, the U.S. has the highest corporate tax rate in the industrialized world. Last year, the pharmaceutical company, Actavis, moved from New Jersey to Ireland to take advantage of a 15 percent tax rate.
Burger King triggered a backlash in the press when the firm recently announced it plans to become a Canadian resident by merging with fast-food company, Tim Hortons. Senator Charles Schumer has called the move unpatriotic and is proposing a bill that would slap a hefty fine on any company that seeks to lower its tax burden by moving its headquarters to another country.
I don't begrudge any firm from trying to prevent their financial assets from being drained by the government. Congress has not passed a real federal budget in over 18 years. With the costs of Obamacare and a host of other programs set to soar in the coming years, I expect a flood of U.S. firms to jump ship.
Burger King isn't even an American company. It is mostly owned by 3G Capital, a Brazilian firm. The chain generated almost 60 percent of its revenues in the U.S. but it has reported just 20 percent of its profits come from this country. Washington should be more worried about firms like McDonald's, Coca-Cola and Yum Brands, which get 70 percent of their revenues, and nearly all their earnings outside the U.S.
I have to wonder if the State Department has any future plans to raise the fee for renunciation of U.S. citizenship in the future. There is nothing stopping them from increasing it to $5,000, $10,000 or even $100,000. I don't have any plans to switch my citizenship anytime soon, but it makes me very uncomfortable that the option is being taken away from me.
Conservatives have complained for years about the need for a secure border fence. They should be careful what they wish for because the day may come when our porous borders allows them to sneak out of the country without Big Brother finding out.
"Righteousness exalteth a nation: but sin is a reproach to any people" (Proverbs 14:34).
BE SURE TO CHECK OUT MY PROPHECY WEBSITES...............................
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