Would it not help the banking busisness here in America, if the government passed a law requiring American?
Posted on August 31st, 2009 by admin
Banking
Citizens To bring home funds from foreign banks and deposit them in our banks.
Not so much concerned about the banks as I am for the economy
Good answers, it’s going to be difficult to choose a best answer.
Citizens To bring home funds from foreign banks and deposit them in our banks.
Not so much concerned about the banks as I am for the economy
Good answers, it’s going to be difficult to choose a best answer.
Filed under: Civic Participation
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That law would be Unconstitutional.
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That would go against the freedoms we desire to have here.
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Citizens are free to do it now–you just have to pay Taxes on the money so it will stay off shore.
America is one of the few countries that punish savers with taxing interest earned on money not spent. So 3 Trillion is off shore or overseas working for the country it is deposited in.
You have hit on a REAL stimulus package that would cost nothing. But the Congressional Brain trust will not allow it to come home without taxing it- so it will stay off shore and we will borrow it from the countries where it is deposited.
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All Banks are a total RIP-OFF.
You give them your money, they pay you .05% interest and then take your money and lend it back to you on your credit card for sometimes as much as 29% interest.
Who exactly is getting the big screwing in this transaction? You are.
I hope they all go out of business. That is what they deserve.
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no it would make things worse creating new law breakers to punish by outlawing current activities when our regulators have more important people to go after. and if the law was follwed the run on foriegn banks to withdraw the money to bring home would create another round of international bailouts. or just all foriegn banks calling in all american govt. paper to cover the withdrawls.