Right Wing Finance

According to this AP article:

“Some 7,500 international tax dodgers have applied for an amnesty program that promises no jail time and reduced penalties for tax cheats who come forward, the Internal Revenue Service announced Wednesday.”

The tax cheats had hidden accounts in over 70 countries and every continent save one – Antarctica. (I’m sure anyone living in Antarctica has bigger worries than the IRS). The amount stashed in the accounts ranged from $10,000 to over $100 million.

“Sen. Carl Levin, D-Mich., applauded the IRS program but said Congress needs to do more to crack down on international tax dodgers. Levin has worked on the issue as chairman of the Senate Permanent Subcommittee on Investigations. He estimated the U.S. loses $100 billion a year in tax revenue because of international tax cheats.”

I wonder where Senator Levin was when Tim Geithner, Charlie Rangel, Tom Daschle and most of the Obama cabinet were “forgetting” to pay their taxes. One can only presume that a domestic version of the amnesty program will be instated for democrats not lucky enough to be in the administration and receive preferential treatment.

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