Wikileaks set to release Swiss bank client info

[Scotteq]

Due process only works when you're dealing with institutions in this country, not outside. If you suspect someone of doing something wrong, the government can get a subpoena to get banking information on a suspect. If you're hiding shit in a swiss bank account, a subpoena won't do shit.

It's possible to gain access to that information. Just that it requires some proof on our end which is strong enough for a US Prosecutor to take to the US Embassy and have the Consul apply to the Swiss Consul so they can petition a Swiss court to get the necessary exception.

Not easy at all... But it is possible.

 

[Mr. Pedantic]

As for the crooks, they richly deserve it, and if they end up in slammer like they deserve, all the better. Where is personal responsibility here, if you do the crime you better expect to do the time.

I'd much rather have criminals pay back what they owe than spend time in prison.

 

[BoberFett]

That is exactly my point. Libertarians should be reconsidering their support for Wikileaks right now.

Wrong.

 

[DucatiMonster696]

I think he is trying to expose the corrupt system? How is this bad?

2 wrongs don't make a right.


1.) Automatically assuming someone is evading taxes or doing something wrong because they have a Swiss bank account.

2.) Exposing peoples private information without consent.

 

[Throckmorton]

Wrong.

Why do you oppose privacy rights?

 

[JSt0rm]

2 wrongs don't make a right.


1.) Automatically assuming someone is evading taxes or doing something wrong because they have a Swiss bank account.

2.) Exposing peoples private information without consent.

They arent exposing every swiss bank account in the country.

Why do things always divide down that line? Like why are we arguing over some bank records being released from Sweden possibly showing massive corruption. Its like a no brainer that its something that is worthwhile.

 

[D1gger]

How do we know that those exposed are going to be tax evaders?

Is it illegal to simply have a Swiss bank account?

They could just as simply have the Swiss bank account because they are very rich and spend time in Europe and they could be reporting all of the interest earned on these monies on their home country tax returns, but how are we to know?

Blindly releasing this info is wrong.

 

[dmcowen674]

Wow, apparently quite a few on here have banks accounts there.

 

[HAL9000]

With any luck he'll leak some mossad secret information or something similar, then there would be a flash in a dark room he's in and problem solved.

 

[Pr0d1gy]

Do it, let the world see who robbed America blind.

 

[Craig234]

How do conservatives feel about people illegally sheltering profits from taxing? Is this a bi-partisan issue we can all get behind?

You hear some condemnation of it as illegal, and some sympathizing with it as a sort of unofficial tax cut. Since all taxes are theft, they're stealing their own money back.

 

[Craig234]

I'd much rather have criminals pay back what they owe than spend time in prison.

Which is a better deterrent, and how much more money does a better deterrent save over payback versus prison?

 

[WackyDan]

Have their been accusations? I would think its best to wait and see who this is. Hell they could all be democrats then what?

It is both sides.... Kennedy was the single most powerful proponent of Estate Taxation upon death....

Yet.... The Kennedy family offshore trust allowed the Kennedy family to avoid millions in estate taxes...

http://www.youtube.com/watch?v=AbDwbUZar0o&feature=player_embedded

This isn't a dem/liberal/gop/conservative issue alone. Anyone with significant money will act to protect it.

For the record, avoiding taxes is legal - That is the use of legal loopholes to lower your tax liability.

Evading taxes is a crime however. There is nothing to suggest that off shore accounts are an illegal activity as they are widely accepted as a normal vehicle of the rich and many politicians to avoid paying their fair share of taxes.

 

[Patranus]

This. The secrecy of Swiss banks has long been a way for those of high net worth to evade tax laws of many nations.

Also, another source:
http://www.nytimes.com/2011/01/18/business/global/18baer.html?partner=rss&emc=rss

Pretty sure you can't use illegally obtained evidence in court.