WHY DOES OBAMA WANT THE WHOLE WORLD TO OBEY THE IRS?
The Obama administration has performed the unique trick of alienating the majority of our most important allies, while at the same time causing America to be viewed as a patsy by its enemies.
The situation is bound to get worse now that the administration has taken the position that most financial institutions outside the United States are conspiring to help Americans and others avoid U.S. taxes and, thus, is attempting to require all of these foreign financial institutions to report to -- and, in effect, become agents of -- the Internal Revenue Service.
Believe it or not, the United States is now threatening to criminally indict nonresident foreign bank executives for not complying with U.S. tax law, even in cases when the banks were not operating in this country or violating their own nation's tax laws. Foreign financial executives have already been warned by some of their own governments not to travel to the United States.
A global revolt is brewing against the United States for being an international financial bully. The consequences of this revolt are likely to be extremely damaging and long-lasting to the nation.