Is there no limit to the amount of shit the agenda-pushers think you will eat, Americans?
"Volcker to head bid to overhaul nation's tax code; Review aims to close loopholes, streamline law" by Bloomberg News | March 26, 2009
You wanna "overhaul" it?
Then ELIMINATE the ILLEGAL TYRANNY!!!
Watch: America: Freedom to Fascism
WASHINGTON - President Obama is putting former Federal Reserve chairman Paul Volcker in charge of a tax-code review aimed at closing loopholes, streamlining the law, and generating revenue, budget director Peter Orszag said.
Translation: they will be coming after you, average American. Otherwise, they would go here first: Whatever Happens in Switzerland Stays in Switzerland
Volcker, 81, who heads the president's Economic Recovery Advisory Board, is being asked to take a look at the laws in an effort to rebalance the tax system. Orszag said the review, given a deadline of Dec. 4, is being ordered to make recommendations on steps to simplify the code, built over the last 96 years, in ways that would reduce tax evasion and what he called "corporate welfare."
To get at corporate welfare you have to go to Congress. Shouldn't that smart guy know that?
"There are hundreds of billions of dollars in uncollected taxes each year," Orszag said in a conference call. The Volcker board "will be examining ways of being even more aggressive on reducing the tax gap."
Obama's IRS gonna be like a pit bull when it should be scrapped.
The tax gap is the difference between the amount of taxes owed by taxpayers and companies and the amount collected. Orszag cited academic studies suggesting that the difference is $300 billion or more.
And YOU KNOW WHERE to GET IT, chump (look up).
Obama made a tax overhaul part of his platform during the presidential campaign. One goal is to close loopholes that he said reward companies that move jobs overseas.
I don't recall him talking about that much; maybe he could tell IBM (see post on same day and page, please).
Then check out the GLOBALISTS and BANKERS Obama has put on his "reform" committeee.
Austan Goolsbee, a senior economic adviser to the president, will be named staff director of the task force, which will report back to Volcker, Orszag said. Members of the panel will include Harvard University's Martin Feldstein, former chief economic adviser to President Reagan; Laura D'Andrea Tyson, a professor of economics at the University of California at Berkeley and former economic adviser to President Clinton; Roger Ferguson, chief executive of Teachers Insurance & Annuity Association and a former vice chairman of the Federal Reserve; and William Donaldson, a former chairman of the Securities and Exchange Commission....
Yeah, these guys are going to fix the tax code for you, American!
If you believe that, I've got terrorists from a cave on 9/11 to tell you about.
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Think I was kidding?
"IRS eases penalties for UBS customers" by Bloomberg News | March 27, 2009
WASHINGTON - The Internal Revenue Service said it will waive some penalties for Americans who disclose they hid assets in foreign bank accounts to avoid taxes, including US customers of UBS AG.
Would YOU get the SAME TREATMENT, readers?
The tax agency, in a memo yesterday, said it will move to collect only 20 percent, and in some cases as little as 5 percent, of assets in previously undisclosed offshore bank accounts. Normal penalties can exceed the account balance in cases of deliberate efforts to conceal the money. The penalty will be in addition to back taxes and interest for as many as six years and additional IRS penalties on taxes owed.
"We believe this guidance is a firm but fair resolution of these cases," IRS commissioner Douglas Shulman told reporters in a conference call. "For taxpayers who continue to hide their head in the sand, the situation will only become more dire."
That means YOU, not the RICHER, 'murkn!
The IRS action has been anticipated by tax lawyers since the United States sued UBS, Switzerland's largest bank, for the names of 52,000 current and former US clients the IRS claims evaded taxes. UBS provided about 300 names though it has refused to provide the rest, citing Swiss secrecy laws.
And you have hardly heard a peep from the richer MSM!
Coming forward voluntarily usually allows a taxpayer to avoid criminal charges, although all applications for leniency under yesterday's initiative will be screened by criminal investigators, the agency said. The IRS said the number of people voluntarily disclosing they have an offshore account has more than doubled in the last year. That number is expected to grow as a result of the new guidelines, said lawyers representing clients with offshore accounts.
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Related: Congress to Let AIG Keep Bonuses
AmeriKa: Land of the SUCKER!
