Obama Administration launches Massive Assault on Financial Privacy

by Eric Dondero

According to NewsMax, the Obama Administration is now hiring "hundreds of new employees," for the IRS, to go after tax patriots who invest overseas.

The Democrat-controlled Congress just approved $387 million for the IRS fiscal year 2010 budget to hire the new employees.

From NewsMax:

The IRS high wealth unit, part of a broader effort to combat international tax evasion, is focusing on "the entire web of business entities controlled by a high wealth individual," IRS Commissioner Doug Shulman told a tax conference this week.

The IRS is also opening new criminal offices in Beijing, Panama City and Sydney to focus on funds flowing out of Europe and into Asia... At the center of the agency's offshore effort is its legal cases against Swiss banking giant UBS AG. UBS agreed to turn over nearly 5,000 names of individual American clients and paid $780 million to settle a criminal case for aiding tax evasion.

The IRS has also begun initial steps to join forces with other governments to scrutinize corporate tax filings...

President Barack Obama has proposed tightening tax rules for U.S. multinationals, including one in which companies delay paying taxes on income earned offshore, a legal practice known as deferral that officials say is abused.

If there was ever a time to completely abolish the IRS, now is it. We Libertarian Republicans must do everything we can to help elect GOP candidates on the record in support of getting rid of the agency. And remember, we're now fully into primary season. We must support those candidates in primaries who don't fudge on the abolish IRS stance.

Fortunately, a number of Republican Congressmen are already on record in support of abolishing the IRS, Ron Paul, of course, but also first-term Rep. John Fleming of Louisiana (Source), Rep. Jeff Flake of AZ and Rep. Paul Broun of Georgia.

Libertarian Republican candidates for Congress for 2010, have called for the absolishment of the IRS. They include Rand Paul running for US Senate in Kentucky and Peter Schiff for Senate against Dodd in Connecticut.

Schiff said on Fox News back in April:

Why not just abolish it completely? How about a flat-tax of zero. Why don’t we shrink government and have a much smaller national tax. It’s far less destructive to our economy and people don’t have to surrender their individual rights to privacy in order to comply with tax law?

Schiff's father Irwin Schiff is serving a lifetime prison sentence for writing a book in the 1980s, "The Great Income Tax Hoax," and urging others to avoid paying the income tax. Schiff believes the tax to be UnConstitutional, and inherently illegal.

Want to strike back at the IRS? For Tax Patriots, supporting Schiff's son for US Senate is an good way to start. Then follow up with a contribution to Rand Paul for Senate in Kentucky.

SchiffforSenate.com

RandPaul2010.com

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