Archive for February, 2012
To Attract Foreign Direct Investment to the USA, Start by Abolishing These Laws and Regulations
Last November, President Obama said that the United States has become “lazy” about attracting foreign investment, and suggested the government should become “more aggressive” to attract overseas dollars. Well, Mr. President, I have several suggestions. First, repeal the notorious Foreign Account Tax Compliance Act (FATCA), which will impose a 30% withholding tax on many money [...]
Use Common Sense and Discretion at Border Checkpoints
I recently learned of a traveler’s unfortunate experience when attempting to enter the Kingdom of Thailand using his second passport. “An acquaintance of mine purchased a (ridiculously expensive) Caribbean passport and jumped on a plane to Thailand where he was going to settle down and ride out the financial crisis. On arrival in Bangkok (also [...]
Keeping America Safe from…Cigars
One of the responsibilities that must keep President Obama awake at night is to keep track of exactly who America’s enemies really are. Fortunately, he has a government agency to rely on for that purpose—the intrepid bureaucrats at the Treasury’s Office of Foreign Assets Control. As soon as a president officially declares that a specific [...]
A Blueprint for a Transition to a Peacetime Economy
(This post is a little different from my usual writings, but I think it’s important to understand the relationship between militarism and the loss of civil and political rights. It’s also important to understand there is a way out of militarism, as discussed in the conclusion.) America has been at war my entire life. In [...]
Listen for Free to “The Second Passports and Expatriation Report”
It’s now been five weeks since my friend and colleague “P.T. Freeman” launched “The Second Passports and Expatriation Report: The Life of a Perpetual Traveler” on the Overseas Radio Network. P.T. was born in the USA, but obtained citizenship and passport from the Commonwealth of Dominica, and subsequently gave up his U.S. citizenship and passport. [...]
Should You Plan on Dying in 2012? [Part II]
In my last post, I described why if you’re a U.S. citizen or resident, and have a net worth more than $1 million, you need to give serious consideration to changes in U.S. transfer tax policies beginning Jan. 1, 2013. In 2013, the current $5.12 million exemption for estate taxes will revert to the 2002 [...]
Should You Plan on Dying in 2012? [Part I]
You might, if you’re a U.S. citizen or permanent resident, and want to spare your heirs from paying estate tax at a rate as high as 55%. But don’t make your funeral arrangements just yet. Congress might change the law before the end of 2012. In 2001, Congress radically retooled federal wealth transfer tax laws. [...]
Geothermal Development in Dominica Promises Energy Independence
Greetings from Roseau, the capital and largest city in the Commonwealth of Dominica! On my flight into Dominica, I sat beside a friendly gentleman from Iceland. I asked him if there was a connection between Iceland and Dominica. The answer he gave me was quite interesting, and very favorable for the long-term interests of Dominica. [...]
Will Mitt Romney Tone Down the U.S. “War on Offshore?”
I don’t spend much time following the U.S. presidential campaign. My assumption is that every candidate will promptly forget everything he promised as soon as he is inaugurated. This is particularly true if the promise is to limit governmental powers or authority. For instance, candidate Obama promised to close Guantanamo Bay prison, end warrantless wiretapping, [...]
Your Ancestry and a “Commonwealth Passport” May Qualify You for a U.K. Work Visa
If you have a British grandparent and are also a citizen of a Commonwealth country (definition here), you can apply to live and work in the United Kingdom. My friend Suzanne, a Canadian citizen, recently did it and passed the latest rules on to me from the U.K. Home Office: You can apply to come [...]