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FACTA UPDATE: United States, Japan Sign Protocol to Income Tax Treaty

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Barflytom1/25/2013 8:33:17 am PST

re: #15 Obdicut

So why are you assuming that institutional investors represent money from individuals invested with those institutions?

Who else’s money would it represent ? Martians ?
Whether those institutional investors are pension funds, banks, hedge funds or whatever, the money ultimately belongs to some individual somewhere, whether it’s someone with a pension or a shareholder in a bank or other corporation. The only exceptions would be college endowments, charitable trusts and suchlike, and I doubt that they account for enough of that 73% to make my point invalid.

Who gives a shit about non-resident citizens?

Apparently the IRS does, not to mention non-resident citizens themselves. That would include Americans working abroad who can no longer open a bank account in a foreign country.

Your claim was “As you ought to know, the US is one of very few countries to tax citizens on their worldwide incomes”. If you mean to say ‘non-resident citizens’, then sorry you fucked up, but that’s not really my problem is it?

Yes, I should have said “non-resident citizens”. I thought it was fairly obvious from the chart what point I was making, but I forgot about your fondness for hair-splitting.

You’re avoiding the main issue, which is that the USA does more to inconvenience its own citizens than almost any other supposedly free country.