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Was I discriminated against?

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  1. #31

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    I read that article -- what a joke. Basically the same article has been appearing for about six months now -- they talk to one person in Switzerland and one other, usually unidentified person, and a couple of tax advisors no one's ever heard of.

    Basically, people are trying to lobby against this supposed 'invasive' US tax legislation so that their clients can escape paying taxes. It's all pretty overblown.


  2. #32
    fth
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    I disagree Freetrader. I have had an epic fight with HSBC to open a brokerage account because of my US passport. Citibank refused to let me have an account at first blush, as did Standard Chartered.

    If you don't work for a US company you will find it very difficult to save properly for your retirement without being taxed to the hilt.

    It is amazing the loops the 7m or so US citizens who actually live overseas have to jump through because the US has a tax on citizenship policy that only tin-pot communist countries have.

    What is really inspiring given the vast industry for accountants and lawyers this has created, the tax only raised about 0.5% of the total income tax receipts of the Federal government when the statistics were last published.


  3. #33

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    Quote Originally Posted by fth

    If you don't work for a US company you will find it very difficult to save properly for your retirement without being taxed to the hilt.

    It is amazing the loops the 7m or so US citizens who actually live overseas have to jump through because the US has a tax on citizenship policy that only tin-pot communist countries have.

    What is really inspiring given the vast industry for accountants and lawyers this has created, the tax only raised about 0.5% of the total income tax receipts of the Federal government when the statistics were last published.
    Oh, I think the US tax policy of worldwide taxation is completely wrong, and as you point out, generates almost no revenue. But that is another issue. The point I am making is that these hysterical articles are overblown.

  4. #34

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    I will never ever complain about banks again after dealing with mainland Chinese banks.

    HK Banks are better but nowhere near as good as Australia. Though I did have a good experience in the HSBC branch near the IFC centre a couple of months ago. The girl couldn't help more......wait.......she could actually!


  5. #35

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    Quote Originally Posted by virago
    HK Banks are better but nowhere near as good as Australia.
    Where you pay through your nose for it. Aaah, still stinging from ATM fees!
    Posted via Mobile Device

  6. #36

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    Quote Originally Posted by Dreadnought
    Where you pay through your nose for it. Aaah, still stinging from ATM fees!
    Posted via Mobile Device
    My experience also was that Aussie banks do a lot less for the customer with a lot more bitchin' and moanin' than I experienced in the US. I assume it has to do with the defacto Big Four bank cartel. That may have its advantages as the Aussie banks never got into the risky subprime market too deeply...like the Canadian banks, they seem to have done OK.

  7. #37
    fth
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    Some people forget about the Babcock and Brown and Macquarie scares at the start of the financial crisis.


  8. #38

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    Quote Originally Posted by fth
    Some people forget about the Babcock and Brown and Macquarie scares at the start of the financial crisis.
    Good point. B&B is gone now. I had another Oz client that was highly levereged and went under right in the middle of a deal they were doing in late 2007 - they were the canary in the coal mine, in a way.

  9. #39

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    Quote Originally Posted by fth
    Some people forget about the Babcock and Brown and Macquarie scares at the start of the financial crisis.
    Neither of them were retail banks though - B&B was not a 'household name' in Australia (although I thought they were great and knew many of the people there!). And Macquarie seems to be still smelling of roses.

  10. #40

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    Quote Originally Posted by karels
    Can racism and discrimination be eradicated from the face of earth...ever?
    Probably not, we're all different and differences will always cause problems. Even if you eradicated that part you have to also eradicate the victim syndrome that people display when they don't get what they want and wish to blame it on something or someone other than themselves.

    And add to that these words from those great prophets (ok, band) Groove Armada "If everybody looked the same, we'd get tired looking at each other".
    Skyhook likes this.

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