On 10/08/2012 09:41 PM, Pete Theisen wrote:
Hi Everybody,
Heck, all the liberals will love this!
http://www.dickmorris.com/obamas-second-term-plan-let-the-u-n-tax-americans/?utm_source=dmreports&utm_medium=dmreports&utm_campaign=dmreports
"there is now pending in the U.N. all kinds of plans to tax Americans
and redistribute their wealth – not to other Americans – but to other
countries. These taxes will not be like our U.N. dues paid by a vote
of our Congress. Nor akin to foreign aid which we choose to give. They
would be mandatory levies imposed by treaty on American citizens. And,
since they would be enumerated in a Treaty — not an act of Congress —
only the president and the Democratic Senate need be on board. The
Republican House has no role in the Treaty-making process."
I think your link is more FUD spun by the Republican attack machine. I
don't think the USA has made any tax treaties with other countries alone
these lines, nor have I heard of any plans being in the works. Taxation
of international companies is a complex area of law involving tax
treaties between contries, and should be handled by experts specializing
in that area of taxation.
Tax treaties may allow residents of foreign countries to be taxed at a
reduced rate, or to be exempt from U.S. income taxes on certain items of
income they receive from sources within the United States.
Conversely, these treaties may allow US citizens to be taxed at a
reduced rate, or to be exempt from foreign income taxes on certain items
of income US citizens receive from the foreign countries.
This does not mean that a tax on the income is avoided by treaties
between countries. These treaties usually accommodate international
companies, and if the income is not tax by the foreign country, it will
usually be taxed on a consolidated tax return prepared in the USA. If
the income is taxed by the foreign country, the foreign tax will be
applied on the USA tax return to reduce the USA taxes owed on the income
and conversely.
http://www.irs.gov/Individuals/International-Taxpayers/Tax-Treaties
Regards,
LelandJ
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