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The Ugliest American

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Posted: 27 Dec 2013 | 6:00 am

Not too many people will reference country and western star Johnny Paycheck who wrote the classic "take this job and shove it."

But increasingly American's are telling the US government to take this country and shove it."

What are driving them are the global taxation regime and certainly the illustrious soon to come Foreign Account Tax Compliance Act.

This massive paper test is driving international banks to treat American citizen's like virtual criminals. Into the sin bin or you have been relegated.

Simply put the hassle of reporting on American's overseas assets requires too much time, money and effort so many banks are simply not interested in the rough trade.

One by-product of the whole exercise is a whole new global industry of immigration lawyers who help American's take on other passports.

In the old days it was about the world wanting to come to America. Now it seems many American's simply want to get out.

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