Every empire needs its army.  The Romans had their Legions.  Obama has his IRS.

Two months ago, Eduardo Saverin, co-founder of Facebook, put a spotlight on a growing trend in our country.  The number of Americans giving up their U.S. citizenship has exploded.  In 2008, 235 Americans gave up their citizenship.  In 2011, that number was 1,780.  That is an absolutely stunning 700+ percent increase in the volume of expatriation since Barack Obama took office.

Travel back through almost four years of Obama’s tenure of tyranny to reform our country into something abhorrently unrecognizable and we begin with his attack on the global banks.  At the same time he was busy subjugating America’s dignity to the dictators of the underworld, Obama launched his campaign of threat and retribution to offshore banks doing business with America’s citizens, along with the largest organization safeguarding their banking privacy.  After Obama’s aggressive campaign of Chicago-style bullying and extortion, Americans who have no connection with criminal wrongdoing are no longer afforded any financial privacy outside the boundaries of the United States, and even the most innocently affected now live in fear of financial ruin for the slightest misstep.

This was not an issue of going after money launderers or tax evaders.  This was a ruthless and brutal attempt by Obama’s IRS to confiscate the wealth of innocent U.S. citizens, many of whom are living and working abroad.  And, of course, this scheme to shake the planet for every last U.S. coin that escaped the clutches of a Socialist administration demanded a massive increase in the size of its IRS by 800 more agents.  Two years later, Obama would need 5,000 more.

A New York asset law firm explains,

Banking secrecy was codified as statutory law (and in some cases, written into the constitution) of certain countries. Other countries observed long traditions and cultures of financial secrecy. Although Switzerland signed a Mutual Legal Assistance Treaty (MLAT) with the US back in the 1990′s, that treaty allowed for secrecy to be breached and information shared only for criminal investigations, not the mere failure to report income in a foreign bank account. Thus, Americans with accounts in Switzerland were able to rely on Swiss banking secrecy, as long as they were not connected with criminal activities.

No longer. …offshore banking secrecy has been significantly eroded. Now, in all countries, failure to report a foreign account or income in that account constitutes criminal activity and will give rise to exchange of banking information with the IRS. …

- The IRS has sued UBS, criminally and civilly, claiming that UBS conspired and even encouraged Americans to hide income in secret UBS accounts. In February, 2009, UBS settled the criminal charges, paid a large fine and handed the IRS the names of hundreds of Americans with UBS accounts. The IRS is now investigating and prosecuting these account holders. In the civil lawsuit, the US has subpoenaed the names of some 52,000 Americans with undeclared UBS accounts. …

- … One IRS tactic is to issue “John Doe” summonses, which seek information on an entire class of unknown account holders, rather than an individual taxpayer already known to have a foreign bank account. …

- Domestically, President Obama and Senators Levin and Baucus have each introduced proposed legislation targeting foreign accounts and Americans who own them.President Obama’s legislation seeks to increase the IRS budget and manpower to pursue undeclared money offshore, including hiring 800 IRS special agents to investigate foreign accounts.

 

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