Seeing red is an understatement

I'm usually calm but giving up my American nationality, which was one of the hardest things I've done. Thus when I came across this article by a Prof. of Journalism  no less, who had no idea of the hardship laws like FATCA have caused, I had to respond both personally and here. It will help calm me down.

As a journalist myself his lack of awareness of what he is writing about is an example of extreme incompetence at best is shocking.

HE HAS NO IDEA of the havoc caused in the lives of expats who are denied banking services where they live and in the US. How do you live without a bank account, credit card, debit card, car loan, mortgage?

HE HAS NO IDEA about the accidental Americans who were born in the US or born of US parents never lived there, will never live there and must pay US income taxes on every cent, centime, farthing, kroner, etc. that they will earn to the US government.

HE HAS NO IDEA of the double taxation on everything but the first $99,000 of salary. American citizens abroad pay taxes where they live and in most cases they are higher.

HE HAS NO IDEA of the problems it has caused in multi national households including divorces because the non American spouse does not want his/her banking information subject to US scrutiny, especially when that money never touched US shores.

HE HAS NO IDEA that one pays to give up their nationality, over $2,000 if a person has under $2 million in assets. One house in Switzerland will put someone over that threshold fairly easily then the rate starts at 15% of all their assets.

HE HAS NO IDEA how much it costs to have an accountant file US taxes because a mistake can lead to fines of anywhere from $10,000 to $500,000 for incorrect reporting. Thus his argument that greed causes Americans to give up their nationality may apply to a few but not the majority. Personally my accountant earned 3x what I paid in US taxes.

If he did know and still wrote that piece than he should never be allowed near a journalism student.

If I were a journalism major in his school, I would change schools because such sloppy journalism comes from the top.