In several bold administrative moves, the Bush team executed its Executive privileges. President Bush slashed IRS staff just in the nick of time with a Senate Committee hearing reports of how the super rich illegally avoid taxes via offshore schemes. A New York Times article last week revealed the IRS slashed enforcement staff charged with monitoring the super rich.
“six I.R.S. estate tax lawyers whose jobs are likely to be eliminated said in interviews that the cuts were just the latest moves behind the scenes at the I.R.S. to shield people with political connections and complex tax-avoidance devices from thorough audits."
Guess who didn’t show for the Senate hearing on unethical tax practices? Two brothers, Sam and Charles Wyly are good friends of President Bush having contributed huge dollars his election campaign. Charles achieved the Pioneer designation for mobilizing over $100,000 in the 2000 election. The brothers’ illegal tax avoidance schemes comprise almost 300 of the 400 page report.
Bush has zero tolerance for people stealing food, water and shoes after a hurricane but can’t seem to hold the line on IRS enforcement on the super rich. It turns out wealthy offshore tax cheating costs the government $40 to 70 billion a year. This corresponds to the annual projected cost of eliminating the Estate Tax, approximately $75 billion a year. Should that pass and the Bush team not enforce existing laws, the super rich benefit to the tune of almost $150 billion a year! That is 4 times as much as last years cut in social services of $40 billion.
Inspired by the Wyly’s Senate no show, Sec. Donald Rumsfeld also passed on giving testimony to the Senate Armed Services Committee on Iraq. How will the Senate feel about Donald’s next Pentagon budget request? Probably the same way the average American feels about Bush giving free passes to his super rich, tax cheat, campaign donors.
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