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riverbendviewgal

(4,253 posts) Tue May 6, 2014, 06:40 PM May 2014

This Is Exactly How You Destroy A Banking System

You might not realize it, but yesterday was a very important date.

Yes, of course, it was Cinco de Mayo. But possibly more important, it’s also the deadline for banks around the world to sign up for information-sharing agreements with the IRS.

Think about it like this: imagine that the King of Saudi Arabia decreed that NO grocery store chain in the United States was allowed to sell pork products to citizens of Saudi Arabia.

Crazy, right? Arrogant? Of course.

But that’s essentially what the US government has done.

http://www.zerohedge.com/news/2014-05-06/exactly-how-you-destroy-banking-system

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This Is Exactly How You Destroy A Banking System (Original Post) riverbendviewgal May 2014 OP

few things sabbat hunter May 2014 #1

sabbat hunter

(6,829 posts)

1. few things

Reply to riverbendviewgal (Original post)

Tue May 6, 2014, 07:16 PM

May 2014

1) their analogy is comparing apples to oranges. Having banks share information with the IRS is to track down tax cheats, who are mainly the uber wealthy and large corporations who evade taxes by hiding money in off shore accounts

2) zero hedge fund is a nutty site, who has been predicting doom and gloom for the US economy since Obama was sworn in, usually with absolutely no facts to back themselves up.

3) we should WANT to make sure that the US government collects the taxes it is owed. Countries like the Cayman islands are full of dummy corporations used evade taxes due.

4) how is it arrogant to want to make sure that large corporations actually pay the taxes they are supposed to?

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