UBS ADMITS TO HELPING CLIENTS HIDE ACCOUNTS

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UBS will pay $780 million in fines and provide the U.S. with client identities [!] as part of a settlement in which the Swiss bank admits to helping taxpayers hide bank accounts from the IRS.
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Well, there goes my 401K.

I thought Justice Holmes (see #28 above) said that “. . .we should be proud. . .” because Americans “. . . pay their taxes honestly and of their own free will.”

[ Full story (subscription) at: http://online.wsj.com/article/SB123499439400216483.html ]

Found on the 2nd page of every IRS Tax Return Instruction booklet:
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A Message From The Commissioner: [Commissar?]

Dear Taxpayer,

U.S. Supreme Court Justice Oliver Wendell Holmes, Jr. notably said “Taxes
are what we pay for civilized society.”

We should be proud that the vast
majority of American citizens pay their taxes honestly and of their own free
will.

In an ever more complex and global world, we cannot take for granted this
cornerstone principle of our democracy.
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SOURCE: http://www.irs.gov/pub/irs-pdf/i1040gi.pdf

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As I said, no comment.

There have been too many people that have pointed out that the democrat’s promise that this bill was absolutely needed, not stimulate the economy, but to avert disaster, was bogus. Everyone that is not a collectivist shill covering for democrats knows this bill is intended to both give the democrats access to tons of cash for the next election and help them institute a massive collectivist takeover of our private sector by government, at the tax payer’s expense. Europe is about to crash economically. Asia will follow that move. The world is looking at a depression, and the democrats are busy using that to grab as much power, as fast as they can. The economy being in the can allows them to preach gloom and doom and institute solutions nobody would accept otherwise. In fact, the democrats already are discussing the next bill, likely to require another $2 trillion in borrowed cash, and intended to do more of the same as the first bill. Hence this need to now get some cover. That’s why they are telling people not to expect much. It leaves the door open to more drastic moves and more borrowing and pay offs.

Our worst enemy right now is the very collectivist ideology that is driving government to wreck our economy. The major underlying reason for our current economic downturn, the stupid practice of forcing banks to loan money to people that can not pay it back in the name of “social justice”, is being made worse by ideologues that now not only wish to keep that underlying cause in place, but whom are then using billions of tax payer dollars to help people that should have never gotten those loans keep what they got. Of course, at the expense of those of us that did the right things. Right has become wrong, good evil. No amount of collectivist talk and money will fix the economic problems we have now if we refuse to address the underlying reasons for those problems. If you are a hard working, tax paying, law abiding citizen that has not borrowed more than you can pay, get ready to receive the shaft from these collectivists for being so stupid.