Trump, tax evasion and what Americans really need to do: #abolishtaxhavens

Trump, tax evasion and what Americans really need to do: #abolishtaxhavens

April 16, 2017 – The “Trump pay your taxes/tell us what you paid” protests around the country on Tax Day April 15th matter only if they are the beginning of a movement by the Berniecrats (since the Clintonites have finessed the issue) to deal with the institutionalized tax cheating effected by open scams such as the carried interest fraud which says that people who run hedge funds should pay a lower rate on their personal profits than anybody else. Why do they get that? Because they have paid off members of Congress to allow it. The Dems and Trump have said they are against it, but if you believe that, I have a bridge in Brooklyn I can sell you.

Tax Evasion Nation: Will the US Be Branded a Tax Haven?

Tax Evasion Nation: Will the US Be Branded a Tax Haven?

The American Interest, May 26, 2016– It will indeed, unless something changes, according to a member of a European Union delegation to the United States investigating shell companies.

An international agency could label the United States a tax haven as the result of America’s refusal to require the names of beneficial owners of companies registered in the U.S. So said European MP Eva Joly, a member of the European parliamentary delegation to the U.S. that met last week with government officials and Congressmen on the issue of America’s clandestine shell companies.

Tax Evasion Nation: Ending Tax Haven Abuse (what Obama gets wrong)

Tax Evasion Nation: Ending Tax Haven Abuse (what Obama gets wrong)

The American Interest, May 12, 2016 – Solving the offshore money-laundering and tax evasion system is easy, but the Obama Administration’s proposal isn’t the way to do it.

Stung by the Panama Papers revelations of worldwide tax evasion by the rich and powerful, President Obama has seized the moment to propose a solution guaranteed to gather headlines—and then fail. But if he wanted to, he could, through the Treasury Department, end the system of offshore tax havens with a stroke of the pen.

First, let’s look at the solution and, then, at what’s wrong with the President’s proposal.

The Obama proposal acknowledges the threat offshoring poses to our national security. Treasury estimates that $300 billion in illicit proceeds are generated annually in the United States due to financial crimes. But it then essentially ignores the powerful weapon it can wield against that threat.

Evasive Tactics: UBS trolls for tax cheats

Condé Nast Portfolio, July 16, 2008 – UBS Code names, secretive European royalty, encrypted computers. A spy novel? Nope. Nope. It’s how two European banks helped rich Americans duck the taxman, a Senate probe found.

The Newport regatta has always drawn America’s moneyed class, and the Art Basel show in Miami is hot on the nouveau riche circuit—making both glitzy venues ideal for financial giants to prospect for new clients.

But UBS, one of the world’s largest banks, had another goal in mind when it shelled out money for the UBS Regatta Cup in Newport or the Art Basel Art Fair in Miami, or performances in major U.S. cities by the UBS Vervier Orchestra.

Watch for Congressional action on tax evasion

Feb 2, 2007

There is movement on the Hill to go after tax shelters and enforcement against tax cheats. Capitol Dome

With acute budget pressures, the time is ripe.

The Democrats are in a box. They have promised to eliminate the deficit, not raise taxes, to expand health care and more for Americans. Nobody is going to press for tax increases. The only place to find cash is the tax gap, to figure out how to go after the corporations and people who cheat. Members of Congress are actively talking about the problem.

Legislation is coming out of the Senate. Senator Carl Levin is pushing the idea of criminalizing the proceeds of tax evasion, which would be remarkable. The House Banking Committee will have bills. There is likely to be something out of Finance and Ways and Means.

Tax Activists: Big Business Must Pay Its Fair Share

Pacific News Service – April 12, 2005

A new global movement is tracking the increasing number of offshore tax shelters and pressuring governments to make multinationals pay up.

As Americans fret over their personal income taxes, there is a movement afoot to reduce the tax burden on ordinary people by getting corporations and wealthy individuals to pay their fair share.

Last month, the Tax Justice Network ( issued a report based on publicly available statistics from the Bank of International Settlements and Merrill Lynch, the investment company. The data showed the following:

–Approximately $11.5 trillion of assets are held offshore by high net-worth individuals, or about a third of the total global GDP, the value of goods and services, which in 2003 was $36.2 trillion.

–The annual income that these assets might be expected to earn amounts to $860 billion annually.

–The tax not paid as a result of these funds being held offshore would exceed $255 billion a year.

Rich Dodge Taxes Says Bush – A Flash of Honesty or Another Slip of the Tongue?

Pacific News Service, Sept 9, 2004

When none other than President George W. Bush announces that the real rich dodge taxes, is that an inadvertent flash of honesty about the shady secrets of offshore shell companies and tax shelters? The administration is tying itself up in knots to dodge the significance of his statement.

The real rich dodge taxes and small business owners pay the burden. Does that sound like a radical-liberal denunciation of privilege by candidate John Kerry?

Guess again. It’s a pronouncement by President Bush.

Criminal complaint filed against Khodorkovsky, Lebedev, and Golubovich in Switzerland

The Russia Journal, Nov 28, 2003

Two ex-bankers on Wednesday, Nov. 26, filed a criminal complaint with the Swiss attorney general against Mikhail Khodorkovsky, Platon Lebedev, and Alexei Golubovich, accusing them of money laundering and support for a criminal organization.

The Russia Journal has obtained a copy of the report. The Journal asked Yukos press office to comment on the charge but no comments were received.

The former bankers have requested the federal officials in Switzerland to open an investigation into the charges and to search the records of the Swiss offices of Menatep SA, Menatep Finances SA and Valmet (in liquidation) and of Bank Leu related to investigate claims of fraud against the Russian company Avisma and money laundering by Menatep in Switzerland.