One thought on “What Are Chances U.S. Will Abandon CBT?

  1. Jan

    The writer has built a strong case, especially by pointing out how politicians and the public perceptions have reinforced keeping CBT in America. I’d agree that CBT is likely to stay IF ONLY FATCA hadn’t made world banks expel accidental Americans, expats, and their spouses! “US persons” also can’t share more than 10% of a business account with non-US persons. Financially, Americans abroad have become pariahs. They are either too afraid to file with the IRS and risk losing everything, or they, like the mayor of London, are famously repudiating it. Even the Republicans Overseas have raised money to challenge it, not to mention our Canadian ADCS lawsuit. The number of people expatriating keeps on growing. Remember also that the BRICS are busy creating alternatives to the US currency monopoly, so the US won’t be controlling all the world banks much longer.

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