Implementing FATCA

Here's a news flash gang!  FATCA implementation has been delayed for 6 months until July 1, 2014.  Who cares why they say, I think they are getting serious resistance, if for no other reason than the technical difficulty to comply.  FATCA is a deal killer and will have the unintended consequence of US Citizens being unable to do business internationally because foreign banks are so scared of the ramifications if they do it wrong.  Business people will not be able to get wire transfers in a timely manner, if at all, and deals will die.  Official estimates are that FATCA will gather $87 billion over a ten year period. Huh? That's $ 8.7 billion per year with the risk of bringing international trade to a dead stop.  What kind of impact will that have on an annual deficit of over $600 billion?  Exports from the US are over a trillion, yes trillion, dollars each year.  If that is damaged, not only will business suffer domestically but tax revenues will fall off by more than FATCA could ever gain.