Thursday, May 23, 2024

Swiss Bank Spins on Facilitating U.S. Tax Evasion (5/23/24)

 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 ( 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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