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That Noise You Hear

08 Nov

 Is the sound of thousands upon thousands of ‘enter’ keys being hit all over the country.

 Lots of rich guys scurrying to hide what they thought were already hidden,— tax cheating generated Swiss bank accounts.

Credit Suisse AG, Switzerland’s second-largest bank, has begun notifying certain U.S. clients suspected of offshore tax evasion that it intends to turn over their names to the Internal Revenue Service, with the help of Swiss tax authorities.

U.S. authorities, who suspect tens of thousands of wealthy Americans of evading billions of dollars in taxes through Swiss private banks in recent years, are conducting a widening criminal investigation into scores of Swiss banks, including Credit Suisse.
 
Should be fun to follow this one. I’m assuming there are plenty of heads exploding in Congress. Both republican and democratic heads.  But, we know that Boehner, McConnell, Ryan, and a host of other republicans will be outraged.
 We just don’t know how they’ll spin it yet.
 My first guess is that it will be harming job creators somehow. Always a safe bet that that phrase will be in the conversation somewhere.
 
 
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Posted by on November 8, 2011 in Uncategorized

 

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