“FATCA critics argue that it is expensive and burdensome for foreign financial institutions to implement, that it is a form of US imperialism, that it could damage delicate international relations and trade agreements, that it is in direct conflict with many foreign laws, and, crucially, that it would compromise America’s economy as it would dramatically reduce foreign investment in the US, threatening American jobs. In addition, FATCA, its opponents insist, would do little if anything to catch tax evaders, which is purportedly its primary objective.”
http://www.economicvoice.com/mps-urged-to-reject-contentious-tax-pact-with-the-us/50038181
