Cultural Revolutions

Keeping Taxes Highest

A Stalinist show trial was held on May 21 by the Permanent Subcommittee on Investigations of the U.S. Senate Homeland Security and Government Affairs Committee.  Their aim was to investigate “how individual and corporate taxpayers are shifting billions of dollars offshore to avoid U.S. taxes.”  In the dock that day, Apple CEO Tim Cook found himself answering to the likes of Senators Carl Levin (D-UAW) and John McCain (R-Border-Free Utopia) for his company’s alleged crimes against the regime.  Like every other taxpaying entity, Apple has a legal obligation to obey American tax laws.  And while tax evasion will land you in jail, tax avoidance remains legal.

Yet our feckless congressional leaders have suddenly decided to challenge the long-standing practice of tax avoidance.  The nation’s precarious federal finances have now put every taxpayer’s ability to minimize his tax bill at risk.  In its report, the subcommittee complained that “U.S. citizens and multinational corporations have exploited and, at times, abused or violated U.S. tax statutes,” including the use of “various complex structures and transactions to exploit taxloopholes [sic].”  The bipartisan panel has become concerned that the $16 trillion U.S. national debt—a product of the federal government’s last three decades of fiscal imprudence—will...

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