Wondering outllines why The Canadian anti FATCA lawsuit is the lawsuit to support.
The anti-FATCA lawsuit worth funding now is the Canadian claim advanced by Alliance for Defense of Canadian Sovereignty (ADCS). Here’s why:
– This is the only actual statement of claim against a FATCA IGA in the world. It has been duly filed in a Canadian Federal Court by expert counsel. It will advance.
– ADCS have retained Canada’s top Constitutional litigator and the resources of a major law firm.
– the Directors of ADCS are totally transparent; they are publicly known, and collectively have made numerous public statements and appearances in the press, on broadcast television, at public meetings, and in front of the Finance Committee. ADCS is also a properly incorporated non-profit corporation.
– the plaintiffs are publicly known and represent the most egregious examples of being harmed by FATCA due to incidental US birthplace.
– the suit has already been funded donations of almost $250K. So future donations are building on a foundation of strength.
– the ADCS suit is already being followed by the media, and we can expect a surge of publicity as the case moves forward.
– Canada is the battleground state for very concept of FATCA IGA’s. That is because of the vast number of Canadians who will be harmed by FATCA. Also, Canada is probably the world’s leader in so-called “illicit undeclared offshore accounts held by US-persons” – as defined by FATCA. Expect far more blowback, anger and awareness as Canadian banks and financial institutions roll out their FATCA programs.
– The success of the Canadian lawsuit against FATCA will enhance the credibility and possibility of success of the Bopp suit in the US.
– Finally, the US Republicans have access to Political Action Committee funding that Canadians can only dream of. So suggest that Canadian dollars focus on Canada’s homefront, to win in a Canadian court. Funding the entire Canadian AND US anti-FATCA suits is a rounding error for the Koch brothers’ various political action committees – if anyone has their contact info, maybe reach out to make the ask 🙂
The timing is fortuitous as factors align in a perfect storm: Canadian lawsuit in Vancouver Federal Court + Harper Cons launch “do-or-die” election bid + Republican majority takes over Congress + increasing anger in Canada over “Buy American” laws + IRS hobbled with significant budget cuts (at the same time they must start to actively process and reciprocate FOR THE FIRST TIME with the rest of world’s FATCA input – much of which will likely be garbage data).
The warning: lawsuits move in slow motion – there are bursts of dramatic activity with months of waiting in-between. It is not like a labor strike, election or similar dramatic public action. A high court can take many months to issue a decision.
Over at ADCS, John Richardson thanks Wondering. So do I.
If you have not yet donated, Please Do So NOW at at stopfatca.ca for all of the above reasons. Plus, it`s just simply the right thing to do.