Looks like you called the death of swiss banking too soon UBS will fight IRS demands http://www.marketwatch.com/news/sto...7B2-9EBE-FBEACFE6A472}&tool=1&dist=bigcharts& If they lose in a US court but dont give the information then what will the IRS do, declare war? These absurd deficits will just make the IRS from a intrusive and abusive government body to a flat out quasi-terrorist organization. I feel sorry for all of you US citizens
UBS settles for $780mm admitting it defrauded the US gov't, then refuses to say who they aided and abeted? Tax evasion is a crime and subjects the guilty party to fines and/or imprisonment. Leona Helmsley. In China the punishment can be as severe as the death penalty. Imagine if UBS Private Wealth Management guys were working for like China Mobile or Bidu exec's? What is the mode of execution in China? That would suck. :eek:
This is rather lame commentary. If we're all subject to laws as a US citizen (taxation in this case) then capturing or convicting the few who are going around those laws is the correct thing to do. If they don't like it, then they can renounce their citizenship. I have to pay taxes on all my income, so should they.
Is this book on my amazon wish list now garbage? http://www.amazon.com/Tax-Havens-To...UTF8&coliid=I2PU5B8Q0TCPQI&colid=VUFSUR5HCQE3
Then, of course, the IRS will try to take their fat cut out of the person's networth. The IRS is legalized tiranny to support a growing welfare state, lots of the stuff they do its not even approved by the congress or the president(like the tax break they invented when WFC bought WB)
Anybody having chance to screw over IRS should do it. It was estimated 70 cents of every $1 is wasted by bureaucrats anyway.
Estimated by whom? Nitwit Gingrich? It depends a lot on weather you think that government for and by the people has a future, because government for the people should be able to find a way to do things efficiently. That is not to be confused with government by a class of cleptocrats who basicly suspended any enforcement of laws and rules that would interfere with lining their pockets while using the power of the government to punish political opponents. The attitude of those here toward those who bend iron, plant and reap, and actually produce the things that you use, including a fair set of rules of the road to play by (Oh, the last Administration did NOT concern themselves with that did they?) Never ceases to amaze me. You have traders belittling UAW lie workers , and government workers. Well let me tell you buddy the NAVY did a better overhaul at half the cost than the "private sector" overhauls they have been forced into. You should have to serve on those ships and and YOU should have to wear the laundry done by KBR since the "outsourced" laundry in Iraq, and suffer the boils caused by dirty clothes because "private industry does it more efficiently". Bullshit. It really depends on the level of corruption tolerated in a company or a government, and for the last 8 years in my direct experience the corrupt have flourished both in and outside of government. Actually I am looking forward to a future where we can once again get our money's worth from government and private industry, and to some damn clean laundry.