“With the deficit in 2012 for the US federal government at $1.1 trillion, the expected $900 million from FATCA is not even a drop in the bucket. Even in the unlikely event that the US will moderately reduce its deficit in the future, the revenue from FATCA will remain a pittance in comparison. Why would the US government go through all the enormous trouble of implementing FATCA if it’s going to bring in such a meager amount of money? If it’s not money, it appears the primary motivation here is control. The new ‘global standard’ is a path that will put governments around the world one step closer to being able to track and control every penny you earn and every penny you spend.”
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