Tuesday 13 April 2010

Tax HORROR: IRS is pursuing global capital controls
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Tuesday, April 13, 2010


From Zero Hedge:

A month ago we discussed the imposition of virtual capital/tax controls when it comes to the avoidance of taxes by high net worth individuals in the US who park their money abroad.

Yesterday, we also discussed that the only practical way for the administration to reduce its massive budget deficit is to target the richest 1% in America with tax rates that could potentially spike to as much as 91% according to Brookings.

Sure enough, also yesterday, the IRS took the next step to create what is slowly becoming a global capital outflow prevention system, by establishing the...


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Topics:Taxes | Government Stupidity | Boondoggle