by Alex Newman, The New American:
As uncertainty grows surrounding a radical and deeply controversial addition to the sprawling U.S. tax regime, the Obama administration is now reportedly in negotiations with Moscow to share financial information with Vladimir Putin’s Russian government. The U.S. Treasury’s effort to secure a pseudo-treaty on data exchange with the Kremlin is part of the Foreign Account Tax Compliance Act, or FATCA, a scheme passed in 2010 aiming to obliterate privacy worldwide under the guise of collecting about an extra billion dollars per year in revenue.
If approved, the unconstitutional bilateral agreement would represent a major victory for Putin, a KGB man widely criticized around the world for operating what opponents refer to as a “gangster” regime. Among other benefits, the Russian strongman would gain access to vast troves of U.S. financial information — including sensitive data on critics of his government who may have assets, accounts, or business interests in the United States.
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