Questing for Atlantis

When I was doing the Global Current I would go out of my way to find positive stories, at least once every few episodes. It’s so easy to get hung up on all the points where our freedoms are under assault that we miss the victories we score along the way.

This is one of those victories. In its constant quest to steal more money from more people the IRS decided to target UBS, a large Swiss banking and wealth management company, in an effort to make the firm give up its client data for taxation purposes. This is just a part of the ongoing fight over tax havens, much of it driven by President Obama and other Democrats looking for more funds to pay for their numerous new programs.

Of course, if the issue is actually analyzed, tax havens are a pretty damn good thing. So that’s why I’m so happy to hear that not only is the Swiss government rightfully telling the U.S. government to mind its own business and not tell Swiss firms what to do, it’s instructed UBS to not disclose any information and has stated:

“Switzerland will use its legal authority to ensure that the bank cannot be pressured to transmit the information illegally, including if necessary by issuing an order taking effective control of the data at UBS,”

Go Switzerland!!! Now if we could only do something about the U.S. policy of taxing income earned abroad by Americans.

HT The Agitator