When it comes to Swiss bank accounts, pop culture brings to mind wealthy people who hide assets from various groups, such as the IRS or their jilted family members. Our sympathies do not align with the type of people we imagine hold Swiss accounts. In fact, it is easy to get quite envious of the idea of holding a Swiss bank account, or possibly resentful that others can that are well off can avoid paying as much in taxes as possible.
Posts tagged with: Tax avoidance and tax evasion
Today at Capital Commentary I discuss the size and scope of the tax code in the US relative to its basic purposes.
In “Back Door Social Engineering,” I argue, “When governments run huge deficits in part because of the complexity of its tax system and the ability of people and institutions to engage in large-scale (and legal) tax avoidance, there is something deeply wrong with the system.”
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