- Personal Finance
Tax Cheats Are Traitors
Spit and Shine
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.