Let's hope the IRS wins this one (I don't recall ever wishing the IRS win anything in the past).

However, we need to put this into perspective. These folks are criminals and paying tax on money they've managed to hide from the IRS for so many years is the minimum that should happen. Also, not all wealthy folks are hiding their money in secret accounts. If they are, then that is the perfect justification (in my mind) for taking those assets and putting them into the public fund. Just as with property seized during other criminal activities, those assets hidden with clear criminal intention (avoiding tax) should go into the public fund. In this case, we are not talking about a fair tax distribution, but breaking the law and paying the price for it just as any low-income person would have to go.



>At the moment it is estimated that US tax evasion utilizing foreign accounts denies the IRS up to $100billion/year. The IRS is suing UBS to get the names of 52,000 US customers with secret accounts, many of whom will have broken US banking laws. There are lots of banks like UBS.
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>No doubt it is the usual culprits (illegal immigrants/undeserving poor) doing this, breaking the law and stealing extra benefits for themselves at society's expense.
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>;-)