Friday, March 15, 2024

Taxpayers Should Be Prosecuted Along with Enablers of Abusive Tax Shelters

MEANWHILE, OVER AT VODKAPUNDIT: How Toxic Is DEI? These Companies Are Turning Down Billions in Free Money to Avoid It. “The free money in question is the $50 billion or so in official bribes for companies to build state-of-the-art chip fabrication plants in this country — like companies used to do when this was still a decent place to do business.”

Taxpayers Should Be Prosecuted Along with Enablers of Abusive Tax Shelters 

This blog entry is an opinion piece. Individual taxpayers should be prosecuted along with their enablers who promote and implement the abusive shelters (particularly enablers from the tax professions).

The following is from a report of Attorney General Garland's comments (Kerry K. Walsh Deborah A. Curtis Amy Jeffress, “Swift” Justice: Attorney General Garland Vows To Uphold DOJ Priorities in Fireside Chat (Arnold & Porter 3/6/24), here):

Additionally, AG Garland explained how DOJ’s three co-equal priorities — upholding the rule of law, keeping America safe, and protecting civil liberties — implicated corporate accountability. AG Garland stressed that the greatest deterrent of white collar crime is holding individual corporate executives to account. AG Garland also reiterated the importance of applying the rule of law equally, regardless of rank or position of power.

I supplied the bold-face to emphasize the point. There has been a perception that, by delivering up the corporation (or other entity) for criminal consequences, the people in the corporations (collectively, the executives) could escape accountability

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Study finds that we could lose science if publishers go bankrupt ars technica 

The Lost Art of Leisure Living Philosophy