"imagine this: You were born in California, moved to New York for education or work, fell in love, married and had children. Even though you have faithfully paid taxes in New York and haven't lived in California for 25 years, suppose California law required that you also file your taxes there because you were born there."
Read that article. Do you realize what it is describing? Indentured Servitude for life, not really indentured servitude, outright slavery. For the rest of your life, no matter where you live, you must file and possibly pay taxes. Your spouse who may not even be born in the US, your children, their children your grandchildren must file and possibly pay taxes. Even if they NEVER set foot inside the borders of the United States.
It coerces foriegn banks to enforce US Tax law.
Tell me, who wrote this?
How about Max Baucus (D-Montana) and Charles Rangel (D-New York-13).
And it was signed by Obama on March 18th, 2010.
Granted it's not really slavery for your grandchildren.....
Yet. One thing you can be sure of is the .GOV will seek to extend the scope of this as much as they can. You KNOW they will. They always seek to expand their authority, never reduce it.