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SackExchange71 Icon : (17 August 2014 - 02:31 PM) Imo i still think howard is better then giacomini..Wish they never let him walk.Giacomini had alot of flags in seattle also
azjetfan Icon : (18 August 2014 - 09:33 AM) Howard recieved a huge contract in Oakland. Way over his actual value.
azjetfan Icon : (18 August 2014 - 10:08 AM) So did we make a trade for a CB yet?
Jetsfan0099 Icon : (18 August 2014 - 03:51 PM) Milliner did suffer a high ankle sprain, that sucks. could linger all year
Jetsfan0099 Icon : (18 August 2014 - 03:52 PM) I think Patterson sucked vs the Colts because he was injured, which he always is.
Mr_Jet Icon : (18 August 2014 - 06:49 PM) As much as people criticized Tannanbaum for spending too much. It's starting to look like Idzik is going to be too cheap.
Mr_Jet Icon : (18 August 2014 - 06:52 PM) You get what you pay for and when you let quality players go because you don't want to pay them, this is what happens. You're left with scrub players.
azjetfan Icon : (18 August 2014 - 07:55 PM) I'm still on board with the Idzik plan. Even with Revis and Revis we still are not going to the SB this year. But the down time sucks. If Milliner comes back healthy by week 3 or so we should be fine.
Mr_Jet Icon : (18 August 2014 - 08:18 PM) Regardless of our SB chances this year or next year. If Idzik keeps acting like a cheapskate and continues to let quality players go, we won't have to worry about winning much of anything this decade.
azjetfan Icon : (18 August 2014 - 09:36 PM) He wants to build through the draft. Not blow the bank on FA. I get what your saying but there is a balance and right now we are not one or two pieces away.
Mr_Jet Icon : (18 August 2014 - 11:00 PM) It's not about being one or two pieces away. It's about keeping the good pieces you have and building upon that.
Mr_Jet Icon : (18 August 2014 - 11:04 PM) But there is no sense in trying to build through the draft if he's only going to end up letting the good players he picks up go in FA after a few years. All because he wants to do things on the cheap.
Jetsfan0099 Icon : (19 August 2014 - 07:02 AM) FIRE IDZIK
azjetfan Icon : (19 August 2014 - 08:33 AM) out side of Revis who left we should have kept?
azjetfan Icon : (19 August 2014 - 08:34 AM) The Revis deal sucks but $16 million was too much for a CB and once he was gone he was not coming back.
Mr_Jet Icon : (19 August 2014 - 11:00 AM) Matt Slauson
azjetfan Icon : (19 August 2014 - 01:00 PM) Eh. I think with our current cap situation we will be able to retain guys like Wilkerson and whomever we want to keep. We are in a good position right now.
Mr_Jet Icon : (19 August 2014 - 01:49 PM) Time will tell.
Jetsfan115 Icon : (19 August 2014 - 02:00 PM) landed revis abck. got DRC, nope we take patterson who got owned and always hurt. milner always hurt. 3rd round CB done for season. were gonna get passed on all day
azjetfan Icon : (19 August 2014 - 02:44 PM) Yea the DRC bit makes me iffy
Jetsfan115 Icon : (19 August 2014 - 03:35 PM) better then patterson
azjetfan Icon : (19 August 2014 - 05:45 PM) No I mean the fact that he whiffed on him.
azjetfan Icon : (19 August 2014 - 05:46 PM) I'm not saying Idzik is perfect. I just like the direction we are heading. It's going to take some patience.
RetireChrebet Icon : (19 August 2014 - 06:27 PM) I like how our lack of secondary is the hot topic right now. The bigger issue is we still will not be able to throw the ball. We are not going to do much of anything regardless until we get a QB. Sorry for being so negative just my honest opinion.
RetireChrebet Icon : (19 August 2014 - 06:29 PM) With that said I think our running game with CJ and Powell will be top 10 or somewhere around there
Jetsfan115 Icon : (19 August 2014 - 06:35 PM) i have faith that if geno messes up that vick can come in and do well. but i have 0 faith in our secondary right now which has been our strong point for the past 4 years or so
MikeGangGree... Icon : (19 August 2014 - 07:35 PM) I agree 115. but the one thing is Rex has done some good things in the past with shitty DBs and still had a solid D going back to his years in BAL
MikeGangGree... Icon : (19 August 2014 - 07:37 PM) Corey Ivy CB
36 Jim Leonhard SS/PR
43 Haruki Nakamura FS
25 Evan Oglesby CB
20 Ed Reed FS
22 Samari Rolle CB
39 Daren Stone FS
41 Frank Walker CB
31 Fabian Washington in 2008
MikeGangGree... Icon : (19 August 2014 - 07:39 PM) Reed is a HOF but Rolle was way past his prime
MikeGangGree... Icon : (19 August 2014 - 07:41 PM) SNOOPY BOWL FRIDAY!!!
MikeGangGree... Icon : (19 August 2014 - 07:41 PM) WOOOOOOOOOOOOO
azjetfan Icon : (19 August 2014 - 08:26 PM) I assume we will pick up a guy after the cuts happen.
Jetsfan0099 Icon : (19 August 2014 - 10:14 PM) we'll see but I think we see better QB play than we have in a while.
518-JeTS-FaN Icon : (20 August 2014 - 08:54 AM) disgusted with my local programming, instead of jets and giants they are airing the raiders vs packers..wtf
HarlemHxC814 Icon : (20 August 2014 - 09:23 AM) Glad I don't live up there anymore haha
ganggreen2003 Icon : (20 August 2014 - 06:59 PM) The JETS are #6 in the Forbes List for most franchise value
ganggreen2003 Icon : (20 August 2014 - 06:59 PM) The Buffalo Jills are #31 and the Miami Dolphags are #16 respectively
ganggreen2003 Icon : (20 August 2014 - 07:00 PM) The JETS are worth $1.8 billion
jet-man Icon : (20 August 2014 - 10:03 PM) that's less than the clippers
HarlemHxC814 Icon : (Yesterday, 01:07 PM) I'm very excited with the amount of preseason touchdowns the Jets have
Jetsfan0099 Icon : (Yesterday, 03:21 PM) FIRE IDZIK
Jetsfan0099 Icon : (Yesterday, 07:22 PM) Calvin Pryor and Darrin Walls will start tomorrow
ganggreen2003 Icon : (Yesterday, 08:52 PM) The SIMPSONS MARATHON has been on for almost 12 hours...
Jetsfan0099 Icon : (Yesterday, 08:57 PM) Sanchez looks so much more confident and better in Chip's offense than he did with us
ganggreen2003 Icon : (Yesterday, 09:50 PM) EVERY SIMPSONS EVER!!!!!
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Here's The Law That's Driving Record Numbers Of Americans To Renounce Their Citizenship

#1 User is offline   azjetfan Icon

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Posted 14 August 2013 - 01:22 PM

By Josh Barro | Business Insider – Mon, Aug 12, 2013 3:32 PM EDT..

Quote

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A record number of Americans are giving up their U.S. citizenship. The Wall Street Journal reports that 1,130 Americans renounced their citizenship in the second quarter of 2013, more than did so in all of 2012.

To my surprise, the list of new ex-Americans is publicly available; I didn't recognize any of the names on a quick scan.

According to the Journal, the surge in expatriations seems to be driven by the upcoming implementation of the Foreign Account Tax Compliance Act (FATCA), a 2010 law that forces foreign financial institutions to disclose more information to the IRS about Americans' accounts and investments. Starting in 2014, foreign financial institutions will have to tell the IRS about income accruing to American clients (or businesses owned by Americans), and they'll have to withhold American income tax as appropriate.

In other words, it's going to become a lot harder to hide your income with a Swiss bank account.

The IRS can't directly tell foreign banks what data to turn over. But it has a pretty big stick — it can impose a 30% withholding tax on payments from the U.S. to foreign financial institutions unless they cooperate. As a result, many foreign banks and foreign countries have been entering into agreements with the IRS to comply with FATCA.

If you're an American living in the U.S. and your strategy for hiding income abroad isn't working anymore, you may have few options but to pay up. But if you live abroad, you have another choice available: Renounce your U.S. citizenship so you're not liable for American income tax.

That's one driver of the surge in renunciations. Another likely factor is the increase in capital gains and income tax rates in 2013, meaning that wealthy American expatriates can get a bigger tax saving by renouncing citizenship than they used to.

But a third factor is that FATCA creates compliance headaches apart from the actual tax bills it leads to. As the WSJ describes:

Some U.S. citizens say they are exasperated by a growing raft of paperwork that forces U.S. citizens living abroad to declare the minutiae of their financial holdings and other assets. That has increased the attraction of becoming a citizen in places such as Hong Kong, where the individual tax rate is capped at 15%.

"My decision was less about the actual amount of taxes I had to pay, and more about the system," said one investment banker, who renounced his U.S. citizenship and is now a Hong Kong citizen. "I'm not an ultrawealthy dude. It was the hassle with all the paperwork."

A few months ago, I attended a dinner where I sat between two Americans living abroad who complained that FATCA has made foreign banks less willing to provide American expatriates with checking accounts, credit cards and mortgages. This has been a major point of complaint for organizations representing American expatriates.

FATCA also complicates matters for foreign businesses with American investors (and for Americans who want to invest in foreign businesses) since American ownership makes a business subject to FATCA reporting.

If you intend to move back to the U.S., you're probably not going to renounce your citizenship because it was hard to get a checking account, or even because you had to forego an investment opportunity. But if you're a dual citizen with weak ties to the U.S. and the law is materially interfering with your financial dealings, it might be a reason to go ahead and quit being an American.

Marie Sapirie, the legal editor at Tax Notes, even says the IRS proposed renouncing citizenship as an option for an American with a complicated tax situation who had long resided abroad.

Last fall, I attended an American Swiss Foundation trip to Switzerland and FATCA was the number one hobby horse for the Swiss participants. The difficulty in evaluating the Swiss complaints is that the Swiss have a combination of good and bad reasons for hating FATCA. The law creates compliance burdens for Americans living in Switzerland and Swiss who do legitimate business with Americans. But it also undermines tax evasion strategies that are the key reason that some Americans were interested in banking in Switzerland in the first place.

Of course, every law has compliance costs, and it's not even clear that it's such a big problem if more Americans, presumably dual citizens living abroad with relatively weak ties to the U.S., are renouncing citizenship. But the benefits of FATCA may also be relatively modest: It's expected to raise $7.6 billion in added taxes over 10 years.

In 1999, the State Department estimated that there are between three and six million Americans living abroad; if those numbers are similar today, that means FATCA will generate about $170 in extra annual taxes per expatriate.

The revenue estimate for FATCA may prove incorrect in either direction; it's based on a guess about how much unreported foreign income will be discovered when the new reporting and withholding requirements come into effect. As the law is implemented next year, we'll start to see how much revenue actually rolls in — and whether the law is worth the compliance costs and expatriations that it causes.

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