Total BS. Can the old lady read?And you wonder why businesses and citizens are leaving America?
Dear Mr. President, Why I'm Leaving America
I received a copy of this letter, and think it is worth reproducing in full:
Dear Mr. President,
I am writing with a heavy heart as I, my husband, and our daughter are all seriously contemplating giving up our U.S. citizenship. We are doing this not to avoid paying U.S. taxes but because we strongly object to a system that is blatantly discriminatory and unfair to law-abiding Americans living outside the country. In addition, it has become too expensive, too difficult, and frankly, too frightening, to try to comply with all of the tax filing requirements that now apply to citizens living abroad.
My husband is 70 years old and I am 69. I was born in St. Louis, my husband in Denver, and our daughter in Toronto.
"no longer accepting additional investments into existing accounts held by non-U.S. resident"
BTW, the old bat had left the US over 25 years ago and Obama is the reason she's leaving?
What a friggin' joke!
David Kuenzi, an investment manager in Madison, Wis., who works with Americans abroad, said that selling U.S. mutual funds to those investors had long been prohibited. "But it was matter of 'Don't ask, don't tell.' Now the firms are getting more aggressive about compliance," he said.
Other fund companies also are changing policies for investors who live abroad.
A spokesman for Putnam Investments said the firm is no longer accepting additional investments into existing accounts held by non-U.S. residents.
The spokesman said the changes were made "in accordance with U.S. anti-money-laundering and 'Know Your Customer' policies" and in response to recent tightening of European laws limiting sales of funds not registered in their jurisdictions.