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259 Comments
- sjbdallas, on 02/19/2009, -4/+123So, they're only neutral until you sue them?
- kp998, on 02/19/2009, -9/+77 20,000 Americans with 20 billion in assets, is that where the money went? Name the names!
- zrcochran, on 02/19/2009, -0/+63brb...gotta make a withdrawal
- publiclurker, on 02/19/2009, -6/+56Don't you feel trickled on?
- Quicksilver4648, on 02/19/2009, -6/+52Trickle Down economics only has a chance of working if all the money stays in the market. But when the rich make millions and only spend a faction of it locally then it all becomes useless. I am a bigger fan of Trickle Up economics.
- urbanarson, on 02/19/2009, -12/+56It's a sad day for the banking industry when the United States Federal Government can threaten a Swiss bank.
- KatherineVolk, on 02/19/2009, -6/+49That is why you keep your money in Caymans ;)
- EarlOfLade, on 02/19/2009, -4/+38That decision just made Switzerland into Europe's newest third world country. Money will now disappear from Swiss banks faster than you can say IRS and Switzerland has nothing to replace the loss of the money and their banks will topple like card houses.
RIP Suisse, tu est morte! - youliveinfear, on 02/19/2009, -15/+49Trickle down economics works, right?
- bantamdraper, on 02/19/2009, -0/+28this is going to make writing embezzlement schemes into hollywood screenplays a whole lot harder.
- johnhummel, on 02/19/2009, -4/+32Thank you for that.
There seems to be the attitude of some people that "Ugh - it's so unfair! These people just didn't want to give their hard earned money to the gov'ment! How dare the US or any other country go after these people!"
Here's the problem with that thinking: it pretends that these people all made their billions in a vacuum. That they had no armies, navies, or air force protecting their interests. That the roads they shipped goods through were provided by magical elves. That the clean air they breath and food free (barring peanut butter companies that are going bankrupt because they were caught by - wait for it - government agencies). The same government that provides police and fire and FBI, public schools and funding for higher educations to provide the people intelligent enough to keep inventing.
No, government doesn't provide anything, and it would be naive to think so. But, as Adam Smith once observed (and I paraphrase), those who have greatly benefited from the condition of their native countries support are obligated to pay their share in making sure that support continues.
These are people who put their money in a foreign country so they could take advantage of the commons - they felt that everybody else should be paying for the armies and navies and cops and roads and all of the other thing their country provides *except* them. And yes, they had choices - if they truly think the taxes or actions their government takes, they're more than welcome to try to change things, or perhaps run for public office themselves to change the system they feel does not serve them best.
What they don't get to do is run off, say "Well, this is mine anyway, all of you suckers can pay for it 'cause I'm not," and still continue to enjoy the benefits provided by everyone else in the tax paying society. And that is what this is hopefully going to correct. - JROXZ, on 02/19/2009, -6/+33Defrauding the IRS!? I thought that to be righteous but I'm conflicted...
Screw them and the FED but screw Wall Street for screwing us? ***** it screw everyone. - OMRebel, on 02/19/2009, -3/+23If you don't think we'll see names like Clinton, Gore, and others on there as well, then I feel sorry for you. One day you'll wake up and learn corruption isn't something that the part you don't like has a monopoly on - it's with all of Congress. Want to clean it up? Setup term limits, and make those in Congress live off of the laws that they pass (that includes no government retirement package, and no government healthcare).
- beingdevious, on 02/19/2009, -1/+20sweden is not switzerland, get it right.
- manova, on 02/19/2009, -11/+28Using the cover of hatred of the greedy, personal privacy has been chipped away a little more. They use our hatred of pedophiles to monitor our online activity, and our hatred of "terrorist" to randomly search our bodies. It doesn't stop here.
- TheShad0w, on 02/19/2009, -8/+25Though I see your hypocrisy I must dully note that there is a reason there is a tax bracket to the US tax system. The problem is that the upper class haven't been paying taxes. They've used every loop hole available so that the rest of us end up footing the bill. For example. This new stimulus package. Do you honestly think that the upper class is going to seriously pay their fair share? Of course not. Yet they get to benefit from the strength, wealth, and protection this country offers. My belief is this. If you want to benefit from the social structure and standing of a country you had better damn well be ready to pay back into that system. Otherwise. Pack your ***** up and get the ***** out.
- awesometastic1, on 02/19/2009, -0/+16This is going to crash the swiss banks because all 20 billion is probably going to be withdrawn overnight and moved to another location.
- ontain, on 02/19/2009, -1/+17you think they only have an account with just one bank?
- DarkShroud, on 02/19/2009, -1/+16Yeah what if it were reversed where the swiss wanted the names of their citizens who were evading swiss taxes? How many people would care then? Besides the fact that US banks would agree and just turn the documents over.
- EricAnderton, on 02/19/2009, -3/+18@HotKarl: They still have pocket knives, cheese and chocolate.
- xsecretfiles, on 02/19/2009, -5/+19meh!
EVERYBODY knows you put your money in the Cayman Islands - CDNChaoZ, on 02/19/2009, -0/+14And our love for Jack Bauer makes more agreeable to torture.
- Yogitw, on 02/19/2009, -1/+15Then it won't hurt them to pay taxes on it :)
- zaferk, on 02/19/2009, -7/+20I feel this is such a big privacy breach...what happened to the idea of Swiss bank accounts being untouchable by foreign powers?
- superheroboy, on 02/19/2009, -14/+27Keep raising taxes and people take their money elsewhere. Cause and effect.
- diggduggDOOM, on 02/19/2009, -3/+16"We're all taking golden showers, now."
-Skinner - inactive, on 02/19/2009, -3/+16But wait. I was told they were reinvesting this money to create jobs....
- doktorrocket, on 02/19/2009, -1/+13"What are the odds that those who are evading these taxes will be publicly named?"
Pretty good, if they're nominated for a cabinet post. Otherwise, not so much. - Pstall, on 02/19/2009, -1/+13Don't worry I am sure that any taxes that were not paid are just a "mistake".
- Mariokartfever, on 02/19/2009, -23/+35Imagine not wanting to give a corrupt government money you earned. That' a thought.
I love how everyone on digg hates these billionaire "thieves" but openly support piracy programs like The Pirate Bay. - inactive, on 02/19/2009, -4/+16They must be really confident in their watch industry.
- redux2redux, on 02/19/2009, -0/+12...and a 'name change'.
- stubear, on 02/19/2009, -0/+12U.S. Banks were never set up to specifically hide money. Swiss banks were renown for protecting the privacy of their clients, even if their methods for obtaining the money were illegal. The Swiss would have a MUCH easier time getting the bank records of U.S. citizens should they believe that Swiss citizens are using U.S. banks were being used to hide funds from the Swiss government.
- TheVirus, on 02/19/2009, -1/+13I don't think they'll let you withdraw $14.
- dcodrea, on 02/19/2009, -6/+18So much for the competitiveness of Swiss banks.
I'm sure the smart operators with enough money will be able to find other foreign money brokers--for a price. - publiclurker, on 02/19/2009, -2/+14They have to actually pay their taxes before they could benefit from a tax cut.
- Minarchian, on 02/19/2009, -6/+17Where's the names?
They are making the bankers do the perp walks....where are these gajillionaires that should be walking next to them?
What are the odds that those who are evading these taxes will be publicly named? - inactive, on 02/19/2009, -0/+11Yeah they have over 500 banks there and a population of around 50,000. Something sounds a little fishy to me.
- puter, on 02/19/2009, -7/+18I don't care if their privacy is being breached.
You and I pay ridiculous taxes because rich people like them avoid paying their taxes. - topgigmedia, on 02/19/2009, -4/+15when?!? and for whom?!? the only thing trickling down to you apparently is the kool-aid dude.
- sigmaman2, on 02/19/2009, -2/+12I hope that they don't just collect those assets. I hope those assets are seized, and put right into the treasury.
- Gyokusai, on 02/19/2009, -2/+11One more chapter in the book about the end of Swiss neutrality. :(
- Cern001, on 02/19/2009, -2/+11I doubt they are that foolish as to have it directly in their names. My guess is there will be a few holding companies that are loosely connected to them but nothing will ever become of it. I do hope we get to see the list though :)
- saisumimen, on 02/19/2009, -1/+10Soooo... not caring either way about what's going on outside your borders.... isn't that THE definition of neutrality?
- maximilen, on 02/19/2009, -2/+11I wish MY name was on the list.
- Birdoftruth, on 02/19/2009, -4/+13yep sure has http://www.theonion.com/content/news/reaganomics_f ...
- homercles337, on 02/19/2009, -4/+13Sure, it works for the top 5% of wealth owners and corporations. I take it youre in that top 5%? If not, you are a god damn idiot.
- o0joshua0o, on 02/19/2009, -1/+9Swiss banks just lost their most marketable selling point.
- MaxxusFlamus, on 02/19/2009, -1/+9The constitution allows congress to levy taxes. So says the 16th Amendment. Unless you want to say part of the constitution is unconstitutional.
- tewas, on 02/19/2009, -3/+11Make sure you have credit card when calling cops or ambulance, and don't forget to repair that road you will be driving to work.
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