IRS goes global

Corruption in the government strikes yet again. This time, however, we're exporting.

For those who feared the rest of the world could not possibly hate us any more, think again. Over 14,000 Americans disclosed the existence of offshore bank accounts following investigations by the IRS with the cooperation of Swiss bank UBS. While most citizens use such accounts simply for ease of travel when overseas or to hide funds from exes , there are also many individuals who use such accounts to shelter funds from the government as a measure of tax evasion. Those who disclosed the information shall not be subject to criminal penalties so long as they pay back taxes based on the value of such accounts.

This deception is bad enough. The real issue here, however, is the plan by the IRS to expand its global workforce by 800 members, and beef up its international presence at existent branches such as Hong Kong, while also opening new satellite branches in Beijing and Sydney.

That's what will get the world to love us again: spreading the joy of the IRS, a corrupt organization that most Americans can't even stand to deal with. Spreading the "charms" of this group will not help our standing in the international community in the least. In fact, it will most likely draw sharp criticism and hatred,seen as the US attempting to police the world again, this time in a bureaucratic manner.

Here's a proposal (one which admittedly requires a bit of thought and a good deal of faith in the American people). Let's get rid of the income tax, and the IRS. What's most likely to happen?

We've already cut out a major government organization, that costs around $12 billion dollars.
Americans have more money to spend, which helps struggling families and, by extension, the economy.
Those looking to shelter their earnings from taxation have no reason to go through the trouble of setting up offshore accounts, thus most likely bring more money back into America.
Maybe, just maybe, Americans and politicians see that bigger government isn't always better, and we begin to trim back the size to only the necessary functions.
Smaller government requires fewer taxes to run; currently the federal income tax covers only about 45% of the cost of running the Government.
Of course this is a hypothetical situation. One thing to keep in mind, however, is that the income tax as we know it did not exist until the passage of the 16th Amendment in 1913. Bear in mind that in the 127 years from independence to the ratification of the 16th Amendment, there were only 8 economic crises (panic, recession, or depression), most due to governmental interference (such as the Depression of 1807, resulting primarily from the Embargo Act). Since the establishment of the income tax, there have been 14 such crises.

For more info:

Federal Income taxes legal?

Source of Taxation Powers


US Recession History




WEIGH IN BELOW: Is it a good idea for the IRS to go global to combat tax evasion? Should we consider abolishing the federal income tax or the IRS as an organization?

:Article Source:examiner.com