December 12, 2006
The Oligarchic Goose is Amoral
Twenty years ago corporations paid over twenty per cent of US taxes. With the aid of computers to effect accounting loophole schemes, which heretofor could only be wished for, the size, scope and speed of tax ripoffs has massively accelerated. The IRS is very open that they are outmanned and outschemed by the size and scope of these ripoffs.
US banks and others, in addition to transfer pricing schemes, were leasing European tram systems and sewer systems, sewer systems I say, to avoid billions in taxes. Some of this I believe has been now blocked but it took years just to unravel and stop even these egregious frauds.
What gives me a satirical chuckle is that when the banks felt that the average Joe had found a loophole and was shedding his credit card debt through bankruptcy they took over congress to close this loophole.
Loopholes are sacrosanct to the corporate oligarchy but holy crap, stop the presses, they are apostasically verboten for the citizenry.
I always say, if the goose is amoral, the gander has every right to their day in court. Don't ya think?