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Special EU & EURO Warning – December 14, 2011Offshore Jurisdiction Comparison 
Guatemala CorporationGuatemala Bank AccountAnonymous Master Card and VisaHigh Limit Anonymous Offshore Visa & MasterCardAndorra Private Banking Swiss Forex and CFD Trading AccountFOREX and FUTURES Bank Account for BrokersForex Professional Broker Trading Accounts Offshore High Risk Merchant Accounts
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Executive Summary – Obama has not done anything like this yet - a tax on wealth not income. We think it is something the American President from Kenya will try for a lot of reasons. He has a failed social security system that cannot possibly pay the baby boomers soon to start drawing benefits. The government borrowed the social security money already in the past. He is fighting two wars, running thirteen aircraft carrier groups (well you never know when someone might try to do a sea invasion of the USA, by the way what would they do with it, they would just have to bail it out).
The USA has super deficit spending, is taking over the private sector (banks, auto industry and soon healthcare) and the President has an awful popularity rating. Please bear in mind that tax revenues in the USA are dropping big time due to many millions of people out of work, closed businesses, rising bankruptcies etc. As much as the government would like to get blood out of a stone they can’t. People are suing Obama in court to show his birth certificate, they have a Kenyan birth certificate for him on file in court.
Timothy Geithner is a tax evader now in charge of the treasury (reminiscent of Richard Nixon swearing Elvis Presley in as a Drug Agent).
Obama is in a mess. He has communist aspirations and ties. So what is he likely to do? A wealth tax! What a great way to redistribute the wealth, Comrade. It is also a way to take the public eye off of him not being qualified to hold the office because he is not a natural born citizen.
Wealth Tax – This is a tax not on income but on assets. Taxes on houses, cars, art collections, jewelry, stocks and bonds, bank accounts, pensions, investments, companies owned in whole or in part, etc. The taxpayer submits a form similar to a balance sheet and is taxed on assets minus liabilities (net assets). Sounds crazy. Lets see which countries have a wealth tax now.
French Wealth Tax - They have a sliding scale rate of 0% to 1.8% of net assets. In 2006 this wealth tax yielded 3.6 billion euros.
Switzerland Wealth Tax – They have a progressive net wealth tax going up to 1.5%.
Lichtenstein Wealth Tax– Similar to Netherlands.
Netherlands Wealth Tax - They tax interest income like a wealth tax, fixed at 1.2%. So if one gets 4% interest the taxes comes out to about 30%.
Norway Wealth Tax – Sliding scale up to 1.1% on net asset value of property assets.
India Wealth Tax – The tax is 1% on wealth exceeding RS 15,000,000.
Why We Think This is A Serious Threat – In the USA they recently started an expatriation tax. This is for people renouncing their USA citizenship. Statistically most people who leave the USA do not renounce their citizenship, they just leave. If they chose to expatriate they have to have all their tax returns filed and they get audited. Then they have to pay an expatriation tax of about 33% of all their assets. This was the first form of a wealth tax we saw. We think the expatriation tax was a probe to look for constitutional challenges. There were none. The door has been opened.
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*Offshore Legal Associates Law Firm.We have no legal ties or associations with any other law firm or corporation with similar or like sounding names anywhere and should not be so confused with any other entity having a similar or like sounding name.
