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" ... The FATCA law is emblematic of Washington's inability to face budget reality. Rather than do the hard work of getting America's fiscal house in order, politicians convince themselves that if they can only catch a few more tax cheats, then they won't have to reduce or even slow runaway spending. This is a fantasy for two reasons. ... "
" ... The story of humans is a story of networks - where throughout thousands of years of history, we’ve organized ourselves into networks which we use to get things done. Cooperation across boundaries has produced nations, businesses and other crucial institutions. But cooperation requires a protocol that sets the rules of cooperation, and that traditionally requires some gatekeeping entity to be in charge - because someone always cheats. That entity historically would be a king, an elite, a corporation, or a crowd. The problem is, if you put a king in charge, you pave the way for a tyrant; if you put an elite in charge, you create an unfair aristocracy; and if you put a corporation in charge, you get a rent-seeking monopoly. If you put a central bank in charge, it will manage money supply to optimize the health of its own currency and balance sheet, not to the benefit of the individual saver or investor. A misaligned central bank may be incentivized to protect itself by devaluing your savings. ... "
" ... Watch how George is able to see Jokic dropping back to contain the roller, instead of jumping out to the perimeter. All this means is one fewer pass. It goes straight to the corner once Millsap cheats inside to help: ... "
" ... With so much money flowing into fraudsters' pockets via digital advertising, even tax revenues of entire countries are being affected, because fraudsters don’t pay taxes. One would expect a fraudster who cheats on making money via digital ads (using fake sites and bot traffic) will also cheat on their taxes — i.e. not pay it. This kind of international tax evasion is particularly difficult to track down if the fraudsters’ companies are also offshored. The legitimate ad exchanges that facilitate the flow of funds to these offshore companies will show legitimate tax deductions - they did pay out to those companies. But those offshore companies fail to pay taxes. State attorneys have the power to subpoena financial records of the legitimate ad exchanges to see who they paid and determine whether there was tax evasion by those payees. ... "
" ... “This is part of a larger pattern of wealthy tax cheats ripping off the American people because they know they can get away with it after years of cuts to the IRS budget. As with broader enforcement issues, cracking down on abusive syndicated conservation easements requires ensuring IRS has the resources and legal tools to do its job” ... "