I link to a new posting summarizing one Swiss view of the
Swiss-U.S. tax dispute. The power the US wields over the Swiss financial
centre (Swissinfo.ch 5/22/24), here.
The article emphasizes the U.S. political power that resulted in Swiss banks disclosing
and paying the price for conspiring with U.S. taxpayers to evade their U.S. tax
obligations. The latter activity was not forced on Swiss banks. They could have
refused to participate (conspire with) the U.S. taxpayers. They did not so in
order to earn more profits. They were called out and made to pay the piper. Not
much sympathy there.
I guess the message is that, if the U.S. had not had such financial power, their assisting in U.S. tax cheating was OK.
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