Bad news for wealthy tax cheats

[jerryzflies 0]

www.bloomberg.com/apps/news?pid=20601087&sid=a71W.d0sH5e4&refer=home

Some of the biggest havens for cheats will now cooperate with US and other governments.

If you can't fix it with a hammer, the problem's electrical.

[dreamdancer 0]

that means they can pay for the bailout and stimulus

stay away from moving propellers - they bite
blue skies from thai sky adventures
good solid response-provoking keyboarding

[masterrig 1]

I heard this on the news, earlier and it's about damned time. The rich have been getting away with this practice for too long. They can pay their taxes just like the po' folk!


Chuck

[Channman 2]

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www.bloomberg.com/apps/news?pid=20601087&sid=a71W.d0sH5e4&refer=home

Some of the biggest havens for cheats will now cooperate with US and other governments.

Now we can get those Drug Cartels to pay their fair share.

Cash, thats the way I like to get paid.

[rushmc 23]

I read the title to your thread and I thought this would be about Dem cabinet members

"America will never be destroyed from the outside,
if we falter and lose our freedoms,
it will be because we destroyed ourselves."
Abraham Lincoln

[Rainbo 0]

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I read the title to your thread and I thought this would be about Dem cabinet members

Rainbo
TheSpeedTriple - Speed is everything
"Blessed are those who can give without remembering, and take without forgetting."

[georgerussia 0]

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Some of the biggest havens for cheats will now cooperate with US and other governments.

Let's see. I wonder how could it happen if the person who opened an account did some basic precaution - like using their Belize passport and not mentioning their U.S. citizenship.

* Don't pray for me if you wanna help - just send me a check. *

[airtwardo 7]

Offshore accounts in countries such as Switzerland cost the U.S. about $100 billion in taxes annually,


~Billion here, billion there...pretty soon we're talkin' real money!

~ If you choke a Smurf, what color does it turn? ~

[likearock 2]

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www.bloomberg.com/apps/news?pid=20601087&sid=a71W.d0sH5e4&refer=home

Some of the biggest havens for cheats will now cooperate with US and other governments.

Didn't see the Cayman Islands on the list. That's a pretty big hole in the strategy.

[Krip 2]

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Quote

www.bloomberg.com/apps/news?pid=20601087&sid=a71W.d0sH5e4&refer=home

Some of the biggest havens for cheats will now cooperate with US and other governments.

Didn't see the Cayman Islands on the list. That's a pretty big hole in the strategy.

Thanks for the tip
Know of any other countries

[georgerussia 0]

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Offshore accounts in countries such as Switzerland cost the U.S. about $100 billion in taxes annually,

I wonder where did this number come from? The only way to get any number would be to:

1. Get records about everyone from the bank who have American citizenship (which, in my opinion, is close to impossible);

2. Compare the records with those reported to IRS (after all, it would be wrong to assume everyone of those people cheats on taxes). This comparison gonna be mostly manual, as I really doubt anyone provided their SSN to a Swiss bank;

3. Understand which part of balance increase is considered income, and not balance consolidation or so. No idea how to even approach it without involving every individual account owner;

4. Only then, when the amount of income is known, and it's possible to calculate total underreported income, it's possible to measure the losses.

And I really doubt even 1 has been done.

* Don't pray for me if you wanna help - just send me a check. *