Charles Schumer Tells Americans They Can't Leave So Easily
We wrote about Facebook co-founder, Eduardo Saverin, defecting from the US last week ("The Great Defection From The West"). Apparently we weren't the only ones to notice.
Today, Lyin' Chuck Schumer held a news conference to unveil the "Ex-PATRIOT" - "Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy" - Act to respond directly to Saverin's move, which they dub a "scheme" that would "help him duck up to $67 million in taxes."
Parasites don't like it when their host can leave so quickly and easily. Schumer plans to use violence to re-impose taxes on expatriates like Saverin even after they flee the United States and take up residence in a foreign country. Their proposal would also impose a mandatory 30 percent tax on the capital gains of anybody who renounces their U.S. citizenship. And, perhaps most importantly, the plan would bar individuals like Saverin from ever reentering the United States again.
TDV Correspondent, Menno Troyer contacted us today to state the following:
"Somehow, as an involuntary citizen of the US, this proposed legislation frightens me more than all of the US's previous, rapidly escalating police state moves combined."
We agree. This bill, if passed, would take the state of affairs between the US Government and the people they deem to own to an entirely new level. To say the least, Schumer's financial terrorist attacks today show the US Government for what it really is... and shows US citizens as the tax slaves that they are.
Even that old refrain from brainwashed patriots that, "If you don't like it you can leave," would no longer be sufficient. It would have to be amended to, "If you don't like it, we will rob you and you can never be allowed to return here under threat of violence." Not quite as snappy of a comeback.
But, as with all government programs it will have the opposite effect of its intention. You don't think many wealthy people aren't looking at this news and thinking they better get out now before this bill is enacted? And furthermore, now the government is saying that they will tax you more and you can never return... the next logical step once tax revenues decline even further after more wealthy Americans defect will be to not allow people to leave at all. Schumer's bill has it right in the title, "Expatriation Prevention". You can't get much clearer than that.
This is how all socialist-styled systems end. You didn't think that fence on the border with Mexico was to keep Mexicans out, did you? At this rate, it won't be too much longer until Americans are washing up, straggly and malnourished in makeshift boats on the shores of caribbean islands begging for asylum.
The Government Owns You
The US Government considers its citizens as their property. Their tax slaves. And the assets of their citizens are also deemed to be theirs... that's why Charlie Schumer is outraged. One of his best tax slaves just got away. It's like a farmer losing a prized cow.
Consider what would happen if Eduardo Saverin stayed in the US. After the Facebook IPO he'd have a massive capital gain and a hefty amount of it would be absconded by the Government. With what he had left he'd have to pay heavy taxes on any income he earned from his assets over the course of his lifetime, surely billions more in tax payments. And then, even when he dies, a death tax (estate tax) would take another 35% of his assets.
Saverin, who was born in Brazil and who has lived in Singapore since 2009, would have been a very lucrative tax cow for years to come. Poor Schumer and the rest of the US Government henchmen must have been thinking, "We can't allow this to continue. We need that money. Those innocent women and children over in Afghanistan aren't just going to bomb themselves."
We Told You So
We hate being the guys who always tell you we told you so... but we told you so! We've said for years that the western nation-states will continue to make it more and more difficult for productive people to leave the country or get their assets outside of the country.
Today should be a massive wake-up call for anyone who has been considering those options but has been on the fence. The US Government showed its true colors. They own you and your assets.
We know your spouse doesn't believe what you are telling them. Most people are programmed to believe their nightly news and what their friends tell them. They may even think you are crazy for wanting to get some of your assets outside of the country.
People who prepare for rare events seem crazy... until it happens. Then they seem pretty smart.
What Can You Do
It is absolutely critical for all those who live in the western world and who own assets to get a significant percentage of their assets outside of their own country now. And it is also highly prudent to get a second passport to give yourself options should your own government begin to restrict travel and expatriation. We expect that more things like this are coming. We expect that it won't be too long before the US disallows dual citizenship... meaning they won't allow you to get a second foreign passport. So get one now before it is too late.
Here is what any reasonable person in the west should be doing today:
- Close out retirement savings accounts and move the assets outside of the country (see more on why here, "Forget Retirement and Retirement Savings"). If you do not wish to close out your retirement accounts there may be options. In the US you can move your IRA assets outside of the country via a self-directed IRA (see more on getting one here).
- Own precious metals to protect from further fiat currency devaluation. And, look to geopolitically diversify your gold and silver. (see more here in Getting Your Gold Out Of Dodge).
- Start the process to get a second passport. There are ways to get a second passport in less than a month (contact TDVPassports.com for more).
- Start up an International Business Corporation and get a bank account in an offshore jurisdiction (see more at TDVOffshore.com).
Don't delay. Charles Schumer is coming for you next and he wants his money.
Your government registered financial advisor will not tell you any of the above. That's why it's more important than ever to think for yourself. Subscribe to The Dollar Vigilante to keep abreast of all the news, analysis and actionable information on surviving The End Of The Monetary System As We Know It (TEOTMSAWKI).