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Why does the GQP hate the IRS - they find the cheats (another Swiss bank pays fines) [1]

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Date: 2023-12-04  

CNBC has a story here about another Swiss bank paying a $122.9 million dollar fine/restitution to US authorities for hiding US citizen bank accounts.

Banque Pictet, the private banking division of the 218-year-old Pictet Group, will pay about $122.9 million in restitution and penalties as part of an agreement with prosecutors. Between 2008 and 2014, the bank had 1,637 accounts on behalf of American clients, who collectively evaded approximately $50.6 million in U.S. taxes, the DOJ said. The accounts themselves held more than $5.6 billion of the roughly $20 billion in total assets from U.S. taxpayers that the bank managed during the relevant period.

The bank has also agreed to assist US authorities in ongoing searches for other hidden accounts.

Ever wonder why the GQP is committed to starving the IRS and killing its capabilities — maybe because their donors get big paybacks in terms of the ability to cheat on their taxes? The Biden budget to increase the IRS staff is one of the best things that was done for honest US taxpayers in a long time.

I assume the invoices for the $50.6 million dollars in back taxes plus interest and penalties have already gone out to the US citizens who participated.

Merry Christmas, suckers.

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[1] Url: https://www.dailykos.com/stories/2023/12/4/2209642/-Why-does-the-GQP-hate-the-IRS-they-find-the-cheats-another-Swiss-bank-pays-fines?pm_campaign=front_page&pm_source=latest_community&pm_medium=web

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