Sen. Carl Levin from the People’s Republic of Michigan, a state that has been in a solitary recession for years due to the tax and spend nature of the Democrat ruling class, has set his sights on Swiss Super-Bank UBS. Levin is calling for the revocation of UBS’s US banking license because the Super-Bank allegedly assisted US citizens in hiding an estimated combined $18 million in secret Swiss bank accounts. Whether this is true or not is a minor part of this story when we remember that Carl Levin is more upset that he and his colleagues in the Democrat hierarchy have not been able to collect taxes on that $18 million to fund their pet pork barrel projects. Levin and company have never met a tax that they didn’t like. If Levin is an example of the kind of Democrat produced in the People’s Republic, no wonder Michigan is such an economic disaster.
Levin has issued a blanket indictment of the bank without consideration as to whether or not this may have originated with a few corrupt individuals within the organization. He is not willing to accept the bank’s internal investigation.
Has Mr. Levin ever considered that it is people like himself and his fellow Democrats with their appetites for taxing and spending that are driving those who have control over their incomes to desire to shelter their money offshore to avoid paying into an over-burdensome tax system that inefficiently rewards failure under the guise of assisting the poor? Under the system Mr. Levin et. al. have overseen since the inception of the Great Society the government of this nation wastes more taxpayer monies on bureaucratic non-sense than actually helping people which in itself has opened the public assistance programs of this nation to abuse and fraud. And created a social services trap from under-which is next to impossible to escape.
Levin says that the taxpayers of this nation are suffering from offshore sheltering.
“Tax havens are engaged in economic warfare against the United States and the honest, hardworking American taxpayer is losing.”
No Mr. Levin, what you meant to say is, “tax havens are engaged in warfare against the socialist run welfare system which is itself is at war with the American taxpayer.” But that would be telling the truth now wouldn’t it?
Do I condone what UBS has done if it is proven that as a corporate policy UBS was engaged in promoting business practices that violated US banking laws? No – of course not. They have to follow the law. But do I believe that the bank had as a corporate policy to defraud the United States revenue through illegal banking practices? I doubt it. My position is that Carl Levin has never met a tax he doesn’t like. He’s never met a pork barrel project he doesn’t like. He’s never met a social program designed to entrap American citizens in a dependency system so that they are dependent upon people like him being in power for their very existence that he doesn’t like. These are facts.
Michigan is in economic trouble BECAUSE of Democrats like Levin. Like Pelosi and her left-coast San Francisco social liberalism creeping forth throughout this nation, Levin is the reason why Michigan’s economic woes are spreading as well.
If UBS is guilty of the charges that Levin is claiming, then crucify them. BUT my position is that it is more about taxes than banking practices because Levin is the taxman.
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Yay team!!!! Good post Gribbit!