If you haven’t thought your rights were under attack lately, think again.
Have you heard of the “Ex-PATRIOT Act” (“Expatriation Prevention by Abolishing Tax-Related Incentives for Offshore Tenancy Act”)? No, this has nothing to do with monitoring your phone calls or Internet. The government already does that through the Patriot Act.
The Ex-PATRIOT Act is the brainchild of Senators Chuck Schumer (D-N.Y.) and Bob Casey (D-Pa.). The concept of the act is to completely restrict your freedom — not as an American, but as a human being — to live wherever you would like and keep your money out of the U.S. government’s hands.
A press release on Schumer’s website states: “Under the proposal, any expatriate with either a net worth of $2 million or an average income tax liability of at least $148,000 over the last five years will be presumed to have renounced their citizenship for tax avoidance purposes.”
Does this law seem to you like a restriction of your rights? If it doesn’t, maybe you should already be living in a prison camp.
I can personally understand the outrage that has led to this law’s creation. As you may already be aware, Eduardo Saverin, one of the guys behind Facebook, decided to hit the road and leave America just before the initial public offering of the company. He is expected to save some $67 million since he renounced his citizenship.
It doesn’t seem right to me. After all, I pay my taxes whether or not I like the concept. But for as many of our rights as we are losing in America, I’m proud to be in a place that at least for the moment gives me the right to write about the problems I see occurring.
If a law like this passes, we are a giant leap closer to having no rights whatsoever in this country.
What would we do if we had no ability to control even our money? Think about that. I know that when we prepare for a crisis, we pack items that are necessary for survival, but we assume that we will still have some sort of currency to trade with.
If the U.S. government now says that you can’t freely leave the country without having your money tethered to it, we are basically told that everything that we have worked for over the years doesn’t belong to us, but to the Federal government.
What does this mean for you? I recently wrote an article for the Lamplighter Report wherein I discussed the loss of money and the rise of the barter system in the world. People around the globe are learning to function without paper currency, not because they want to, but because they have to — and America may be next.
Look at Greece, where they are literally running out of cash. There are now towns that function solely on trading services and items. Sure, that sounds far-fetched for our mighty economy, but where would we be if we have no rights to own our own money?
The Ex-PATRIOT Act ensures that if you are going off the grid, this country will keep an eye — and a hand — on your money.
According to this law, if the Internal Revenue Service assumes that someone gave up his passport for tax purposes, the IRS will impose a tax on that person’s investments no matter where he resides.
This law is a dangerous, slippery slope and an obvious attack on your rights. What will happen next with this? We don’t know yet.
The Ex-PATRIOT Act is just now being proposed. It could take months before it’s passed — although we have seen things move a lot quicker in certain situations.
Either way, you should know that the team at Absolute Rights is working hard to ensure that you maintain as much of your liberty as possible.
In fact, even though we hadn’t expected something like this law to pop up as soon as it did, we at Absolute Rights were already working on strategic plans to protect and diversify your assets to counter such attacks on your wealth. Stay tuned; we’ll be rolling that out in the near future.
Every day, I am shocked that we’re even in an America where you are threatened in such ways.
Remember to keep an eye out for threats to your rights and as always, be smarter than they think you are.
Managing Editor, Absolute Rights