So US law is now the law of the World. I thought the Court of Criminal Justice in the Hague was a bit high-handed, but this is even more amazing.
It makes sense to me that US citizens banking in Swiss banks and not paying taxes are breaking US law. So prosecute them. But prosecute Swiss people for breaking US Laws? What if Spain made a law against Death Penalty. Could they put warrents out for US juries or Governors who are instituting it.
I’m not sure why the Swiss capitulated in this case. How did the IRS get leverage on them?
This is why many small countries no longer accecpt bank deposits from Americans. Because while no American is subject to attacks from foreign tax agents, No non-American state is safe from the over reaching IRS.
You may be outside of the US, but you are still US property. Its a land of the free thingie.
Whoa!
Ti e to move my funds to Dubai. Been wanting to go to largest indoor snowboard field in the world.
Wasn’t it during the financial crises in 2007 when the Swiss banks started to capitulate on this? Swiss banks, fearing they couldn’t make it if the US came down on them, gave up their historic account privacy. It’s not right that the US has any right to on any foreign account info of a US citizen or bank.
It’s not shocking that Americans would try to preserve some of their assets by hiding them in foreign accounts.
We now live in a country where the top state tax rate of one state (CA) is now the same as the flat tax rate of Russia.
13%
Let’s all get Russian papers and keep our cash there...lol
Singapore is nicer and also wealth-friendly.
If you add up all the taxes the middle class pays it is now over 50%. Don’t forget the fact that ALL corporate taxes are actually taxes that are payed mainly by the middle class. Corporations don’t actually pay tax...they just act as collectors for the IRS and add the tax to everything you purchase.
This country is doomed. The lunatics (socialists) now control the asylum.
Are any of Obama’s rich friends going to buy the carcass of the bank?