ZURICH (Reuters) – Two more Swiss banks said they would work with U.S. officials in a crackdown on wealthy Americans evading taxes through hidden offshore accounts, a trickle that could rise to about one third of the country’s private banks.
It sure would be nice if we could get the rich to somehow pay their fair share of taxes. Swiss banks prosper because they help them hide money to avoid taxes. As the article says still less than one-third of them have joined this new procedure. I think those that are resisting see the writing on the wall that the 1%ers will simply move their money someplace else if they can’t hide it in their banks.
Will Rogers had a lot to say about bankers and financial people during his day and not much of it was good. I wonder what he would say about today’s world in that regard?