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Week of February 22, 2009 - February 28, 2009

Why not an "off-shore account" tax?


From this morning's Muckraker files;
"A group of wealthy Americans is suing Swiss bank UBS in federal court to keep their identities secret. The suit alleges that UBS' actions in cooperating with U.S. investigators violate Swiss bank secrecy laws and amount to illegal activities involving foreign authorities. UBS, the world's largest private bank, had been charged by US authorities with conspiring to help wealthy clients avoid their taxes. As part of a settlement, the bank agreed to release the names of 19,000 clients. (New York Times)"

It won't be those 19,000 we need to know about, it will be the ones whose names WERE NOT released whose culpability becomes glaringly evident.

Here's a simple answer; double the tax rate on all Americans' foreign deposits, so that they pay a built-in penalty for offshore moneys.

Again, whoever is included in this lawsuit to silence the banks is, by the very nature of their resistance, admitting to mischief that, once uncovered, would likely constitute a crime.

So I suggest we not only find out who has what money where, we should start charging an "offshore savings tax" on any money earned here in the US, but saved in overseas banks.

Just tax it up front, whenever it leaves our borders headed for foreign banks, with a simple stroke of the legislative pen.  Include severe penalties for the cheats and book-cookers.

And then lets see who howls the loudest, and we will know who the guilty parties really are. This lawsuit represents that howling, and I, for one, would like to know whose names WERE NOT RELEASED IN THE LIST OF 19,000.

THAT is the real rogues-list. 



Sebelius and Dean, BOTH in the Obama WH?


"Sebelius) "is unlikely to also wear the second hat that Mr. Daschle negotiated for himself as White House health czar, a position that could be influential in setting health care policy. Administration officials said that was a special arrangement for Mr. Daschle, adding that they were still considering what to do about that job."

So, how about Sebelius at HHS and Dean as the Health Czar? Sounds like Daschle was biting off way more than he could chew, in the first place. And they both fit these jobs like a hand in a glove, maybe Daschle's political misfortunes will prove advantageous in the long run.
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JEP07

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