senator carl levin (d-irs) is holding hearings:
This morning the Permanent Subcommittee on Investigations, which I chair, is holding a hearing to look at two banks that have relied on secrecy and deception to hide, not just the tax avoidance schemes of their clients, but the actions they themselves took to facilitate U.S. tax evasion.
On the surface it sounds like these banks are providing a level of secrecy and privacy that should be automatic at all banking institutions.
levin goes on to note:
Each year, the United States Treasury loses an estimated $100 billion in tax revenues from offshore tax abuses. Tax havens are engaged in economic warfare against the United States and honest, hardworking American taxpayers.
A slightly different way of stating this:
Each year, Americans protect an estimated $100 billion in assets from the United States Treasury.
I can’t say rather they are hard working or honest Americans. If the assets they are protecting have been acquired via theft or fraud than these folks should find their way to court and be required to return the funds to the victims.
mafia US Government should put their guns away and leave these folks alone.