Thursday, December 03, 2009

US Justice Department seeks Allen Stanford clients

The U.S. Department of Justice says it has served a summons on the receiver of Allen Stanford's collapsed and fraudulent offshore empire which

"requires the receiver to provide documents identifying those U.S. taxpayers holding foreign accounts at or through Stanford Group Company (SGC), Stanford Trust Company Ltd. (STCL) and Stanford International Bank (SIB) during 2002-2009.
. . .
Evidence available to the IRS suggests that many of the persons in the John Doe class may have been under-reporting income, evading income taxes or otherwise violating the internal revenue laws of the United States. The aggregate amount of the resulting taxes that should have been reported and paid to the U.S. Treasury is unknown."

This could be fascinating. It would also be interesting to find out whether Stanford had been secretly financing any offshore lobbyists or other cheerleaders for tax havens.

2 Comments:

Anonymous Anonymous said...

TJN, There is no justice in taxes. Taking money from people against their will is stealing. Governments can in no way justify taking 75%+ of people's hard-earned money, not to mention the shake down of 2008-2009.

You may be okay with governments stealing your money, but many are not okay with that. The governments are the ones in the wrong, not people who avoid paying taxes. If you had the choice between 15% tax or 80% tax what would choose? Unless, you are very stupid, you would choose 15%, except, perhaps, in the case that your income is derived from those who steal from the people.

One argument generally goes, I pay MY taxes, therefore, you should pay them too. If you were robbed, that does not mean other people should be robbed too. It is in no way unfair that you were robbed and other people were smart enough to AVOID being robbed.

3:08 am  
Anonymous Anonymous said...

I know my previous comment most likely will not be published, so this is really for the blog owner. Here is a thesis, "Taxation is Robbery":
http://mises.org/etexts/taxrob.asp

3:21 am  

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