Monday, November 03, 2008
The price of citizenship...
...has gone higher.
When there are no viable alternatives (where are you going to move if you are dissatisfied with your present citizenship given the world's economic conditions?), it is natural for monopoly providers to squeeze their customers. Governmental security (law and order) services are no different as it hold monopoly power over violence and imprisonment.
We expect the price to increase given a Democratic victory.
By David S. Hilzenrath
Washington Post Staff Writer
Saturday, November 1, 2008; D01
At the Beverly Hills office of criminal defense lawyer Edward M. Robbins Jr., anxious new clients are showing up with an unexpected problem.
The clients put money in Swiss bank accounts, where it was supposed to stay secret. But now those depositors fear the U.S. Internal Revenue Service and the Justice Department will gain access to their bank records, Robbins said.
"They're coming in from the cold. They're nervous," Robbins said.
And with good reason, the former federal prosecutor said. A lawyer who specializes in tax cases, Robbins thinks the government is gearing up to prosecute large numbers of Americans for failing to disclose foreign accounts on their tax returns and evading taxes on income generated by the accounts.
"If I were one of these guys with 10 to 50 million in my account, I'd be having an aneurysm," Robbins said. "It's an extremely dangerous situation for these guys."
The legendary secrecy of Swiss banks has come under fresh assault lately from U.S. and European authorities who say their citizens have used the privacy to hide assets and dodge taxes.