Tax Cheats Are Traitors

Spit and Shine

Hey you missed a spot.
Hey you missed a spot.

Tax Evading Turncoats

Is it unpatriotic to avoid paying your taxes? Romney is running in a race for the leader of the county yet he has an incredible amount of baggage when it comes to paying his taxes. Money in the Cayman Islands, money in swiss bank accounts, creative accounting and who knows what else. Can a leader be creditable when he plays by different rules than everyone else?

There was an interesting news item this week in which a whistle blower for a the Swiss bank UBS received $104 million dollars for ratting out 4,000 American tax cheats who where hiding money in Swiss bank accounts.

Bradley Birkenfeld tipped off the IRS and ended up in jail himself, he received a 40-month prison term in 2009 for his part in UBS's tax evasion program after providing information on it. The amazing part of this story is that his payout represents only 2% of the money recovered!

Because of Birkenfeld the feds are now going after hundreds of tax evaders and have have collected a $780 million fine from UBS.

No doubt this is only one case where the mega-rich American's have been caught funneling money out of the US and into their secret off shore tax shelters.

Makes you wonder why the 1% would need those additional tax cuts that the GOP loves so much. Is it an attempt make paying your fair share more attractive to these mega-millionaires?

Do you think the middle class has the time or knowledge to come up with all of these creative tax evasion practices or the money to hire the armies of tax lawyers and creative accountants like someone of Romney's wealth?

I propose take the tax cuts for the rich money and invest it in more IRS tax evasion investigators. Or maybe encourage more whistle blowers to come forward.

Romney talks about closing loopholes on the rich but won't offer any specifics. Does anyone really trust him to close any tax loopholes on himself or his rich buddies when he has taken advantage of every loop hole and tax shelter possible?

I for one don't mind paying my fair share of our country. The tax money goes to pay for our defense, infrastructure, justice etc. What I do mind is the people who have benefited the most from what this country offers skirting their responsibility to the rest of the country.

TAX HAVENS CAUSE POVERTY

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adjkp25 profile image

adjkp25 4 years ago from Northern California

It does make you think a little bit doesn't it?

For a government to run it needs funds and I believe most of those come from taxes, unless they have an orchard of money trees I'm not aware of. It is kind of a very expensive version of having your cake and eating it too. People are OK landing their private jets at airports and driving on the roads home but they forget where the money came from to pave those roads.

I wonder how each state in the US would be doing if it collected all of the money in overdue taxes? I'm sure it would pale in comparison to the oversees accounts the elite have.

It does st a little bit of a bad precedent when someone running for president, based on what we know, has used these accounts for financial gain.


peanutroaster profile image

peanutroaster 4 years ago from New England Author

From CBS news:

According to David Callahan, who heads a think tank called DEMOS, the government only collects about 85 percent of the money that it is owed. And what happens with that other 15 percent?

"Goes into the pockets of the tax cheaters, and the rest of us help subsidize them by paying higher taxes," said Callahan.

There's a lot to subsidize, he says The most recent IRS estimate shows a $385 billion shortfall in revenue, mostly from under-reported income.

Shulman says the IRS sees all kinds of fraud, from multi-million dollar offshore bank accounts (LIKE ROMNEY) to small-scale numbers fudging.


peanutroaster profile image

peanutroaster 4 years ago from New England Author

Why are billionaires like Sheldon Adelson, the conservative billionaire Las Vegas casino owner, personally giving $100 million to defeat Obama? ($100 million from a single person - it boggles the mind!)

According to a new report from the Center for American Progress Action Fund, Adelson could see up to $2 billion in savings under Mitt Romney's tax plan versus the President's plan. That's how much Romney's policies would favor millionaires and billionaires.

If Mitt Romney wins -- $2 billion more for Adelson.


peanutroaster profile image

peanutroaster 4 years ago from New England Author

The latest from Mitt: our problems are not that the rich are not paying their taxes but...wait for it.... the elderly, working poor and child in households under the poverty line are dragging down America and not paying enough taxes!


peanutroaster profile image

peanutroaster 4 years ago from New England Author

Now will the Mormon church go after Romney for hiding money?

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