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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER
Your Link to Freedom, Privacy & Prosperity in the Offshore World
Tuesday, December 30, 2003 - Vol. 5 No. 154
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In This Issue:
* COMMENT: IRS + UN = Taxpayers' Disaster.
* TAXES: I.R.S. Media Shills. Corporations, Lawyers Targeted.
* WEALTH: Forbes Predictions. Luxembourg Richest. Gold, Euro High. Dollar Lower. Chinese Charge It. Life Insurance Cuts Taxes.
* PRIVACY & RIGHTS: Abusive Law Abused. Very Fragile Document. Candid Camera; Watch Out U.S. Visitors! Expats Want to Vote Home.
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COMMENT: IRS + UN = Taxpayers' Disaster.
Dear A-Letter Reader:
If there is any organization in the world that is more incompetent than the US Internal Revenue Service, it's the United Nations.
Sure, some may argue that both render a needed service, one collecting financing for the US government, the other promoting world peace. But the track record of both agencies is abysmal at best, and overall they are odoriferous. The IRS strangles citizens in its incomprehensible rules and regulations, then persecutes taxpayers who can't understand the IRS gobbledegook. The UN boasts of world peace as it dithers and debates while wars rumors of wars go on apace.
Now think about the idiotic concept of combing these two agencies! An international IRS run by the UN?
Well, that's what the loonies of the international Left plan to have.
The UN wants to create an International Tax Organization (ITO) with the power to interfere with national tax policies. This crazy idea first surfaced two years ago in a UN report. Since then, the UN has been working to make this reality and Gen. Sec. Kofi Annan recently called for the creation of a global tax commission. No matter what it's called, an international bureaucracy with power over tax policy would be an assault on every nation's sovereignty.
The UN even sees the day when it can collect a world tax on all currency transactions and on energy consumption. It also wants to give governments permanent taxing rights over emigrants, anyone who leaves one nation for another would be taxed.
The UN is just one of the global bureaucracies undermining fiscal sovereignty. The Paris-based Organization for Economic Cooperation and Development (OECD) targets "harmful tax competition" and the European Union enthusiastically backs "tax harmonization." In both cases they want more and higher taxes.
As Heritage Foundation tax expert Dan Mitchell says: "There is an understandable temptation to dismiss these UN proposals as silly. After all, the US can veto any bad initiatives. But this passive approach is a mistake." We agree. You should educate yourself thoroughly about these dangerous proposals and let your elected national officials know your strong opposition.
It's bad enough to be forced to pay high taxes in one's own nation without also having to finance the world's loony Left as well.
That's way that it looks from here.
BOB BAUMAN, Editor
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COMMENT LINKS:
* A UN Tax? by Daniel Mitchell, Heritage Foundation.
LINK: http://frontpagemag.com/articles/ReadArticle.asp?ID=11424
* UN To Launch International Tax Organization
LINK: http://www.tax-news.com/asp/story/story.asp?storyname=14534
* UN World Tax Grab. To better understand what's going on see:
LINK: http://www.freedomandprosperity.org/2001/un/un.shtml
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* TAXES *
N.Y. DAILY NEWS SHILLS FOR THE I.R.S.
Here's a classic example of a lazy reporter regurgitating anti-offshore
propaganda using the prejudiced Robert Morganthau's words. LINK:
http://www.nydailynews.com/front/story/149885p-132103c.html
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I.R.S. SAYS IT WILL SPEED CORPORATE AUDITS
Not tough enough enforcement, they say? Oh yeah? LINK:
http://www.washingtonpost.com/wp-dyn/articles/A37109-2003Dec28.html
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I.R.S. CRACKDOWN AIMED AT LAWYERS, ACCOUNTANTS
Tax opinion letters are the latest object of IRS attacks.
LINK: http://www.iht.com/articles/123084.htm
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I.R.S. SAYS IT IS CRACKING DOWN.
More likely it is breaking down. LINK:
http://www.forbes.com/2003/12/29/cx_da_1229topnews.html
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* WEALTH *
FORBES MAGAZINE PREDICTIONS FOR 2004
Here's a serving of bold investment predictions for the New Year.
LINK: http://www.forbes.com/2003/12/24/sp04_intro.html
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LUXEMBOURG RICHEST PER CAPITA IN ALL E.U.
Ireland comes in second; high tax welfare states way behind.
LINK: http://washingtontimes.com/world/20031227-085037-6600r.htm
* Where the richest folks live in the United States. LINK:
http://www.forbes.com/execpicks/2003/05/09/cx_bs_0509home.html
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GOLD NEARS 8-YEAR HIGH AS DOLLAR SLUMPS
LONDON: Gold on Monday hit its highest point in nearly eight years.
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251805560
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FALLING DOLLAR RAISES MAJOR CONCERNS
Analysts fear higher interest rates, recovery will stall. LINK:
http://www.washingtonpost.com/wp-dyn/articles/A30802-2003Dec25.html
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EURO'S GAINS HIGHLIGHT E.U. DIVERSITY
BERLIN: Uniform currency yet to eclipse national identities.
http://www.washingtonpost.com/wp-dyn/articles/A30803-2003Dec25.html
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CHINESE SAY: "CHARGE IT!"
Credit cards finally arrive in Communist China. LINK:
http://news.ft.com/servlet/ContentServer?pagename=FT.com/StoryFT/FullStory&c=StoryFT&cid=1071251796292
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HOW TO CUT YOUR U.S. ESTATE TAXES
Life insurance can be used to avoid estate taxes. LINK:
http://www.abqtrib.com/shns/story.cfm?pk=RETIRE-12-29-03&cat=BX
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* PRIVACY & RIGHTS *
MORE ABUSE OF AN ABUSIVE LAW
Patriot Act used to snare alleged gamblers, drug addicts. Terrorists?
LINK: http://worldnetdaily.com/news/article.asp?ARTICLE_ID=36348
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DON'T THROW AWAY AMERICAN LIBERTY
Charlie Reese notes that the Constitution is a fragile document.
LINK: http://www.lewrockwell.com/reese/reese26.html
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U.S. VISITORS TO BE PHOTOGRAPHED, FINGERPRINTED
The US tourism industry, businesses take another direct hit.
LINK: http://www.siliconvalley.com/mld/siliconvalley/7590088.htm
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EXPATRIATES SEEK HOMELAND VOTING RIGHTS
Come to America, but keep on voting back home.
LINK: http://www.miami.com/mld/miamiherald/7587573.htm
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Jan. 23-26, 2004 - Latin America Investment Symposium ~
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a practical, hands-on approach to profiting on the next American
frontier. More information and registration at:
LINK: http://www.ildiscoverytours.com/conf/nica0104/ss/
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THE SOVEREIGN SOCIETY OFFSHORE A-LETTER. *
Bob Bauman, Editor * Daniel Aponte, Jr. Research Asst.
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