Thursday, February 19, 2009


When two of President Obama's nominees went up for confirmation and were found to have not paid certain taxes the Conservative Echo Chamber had a field day. How dare these people try and avoid paying taxes! Let's see if the Echo Chamber creates the same circus atmosphere with this one: financial conglomerate UBS has agreed to pay $780 million to resolve claims that its offshore accounts were used primarily to evade taxes. But it gets better. UBS will also identify American clients who used the bank to avoid paying taxes.

The Justice Department is now moving to force UBS to disclose the identities of 52,000 Americans — far more than the 19,000 names that UBS was originally going to share with the U.S. government. It's estimated that this group has $20 billion in assets with UBS and, over time, has avoided paying about $300 million A YEAR in taxes.

I wonder if FOX News will do a segment on a "Nation Swindled!" or bemoaning "The Return of the Plutocrats" in a video set to the ominous sounds of "O Fortuna" from Carl Orff's Carmina Burana, you know, like this one ...

- Mark

UPDATE: Of course, no discussion of UBS is complete without discussing former Texas Senator Phil Gramm.

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