Posted on 05/06/2016 5:15:43 AM PDT by Olog-hai
The Obama administration has announced a set of financial regulations that would force companies to disclose more information about their owners, part of an effort billed as a crackdown on tax evaders and money launderers.
Administration officials announced the new rules Thursday as Treasury Secretary Jacob Lew urged Congress to pass legislation that would further enhance transparency in the U.S. banking system and help law enforcement track down secret owners. […]
A second proposed rule would close a loophole that allows a narrow class of foreign-owned companies to avoid reporting to the IRS. […]
Treasury also sent new legislation to Congress that would require companies to know and disclose their owners to the IRS and to allow law enforcement to access that information. Lew also urged senators to ratify eight tax treaties that have languished in the Senate. The treaties, he told lawmakers, are critical “to ensure fair and full enforcement of our tax laws.” …
(Excerpt) Read more at hosted.ap.org ...
This martinet has about 200 days left in office. All targeted entities should simply slow walk any compliance or response.
Bingo
Please note that it is a Republican held Congress doing the rubber stamping.
In the context of a Uniparty, it makes all the sense in the world, right?
Could put Delaware in play for the elections. Lots of foreign banking business that will disappear thanks to 0.
I agree but let’s look at politicians tax evasion schemes first. You know like placing personal funds into PACs, setting up shell companies and trusts, fake or personal expenditures used for business write offs, etc...bet they would shut their mouths if they had to live by their own rules without exemptions.
Yep. A lot of that going on.
That’s why they increase their own power unconstitutionally to immunize themselves from the wrath of the people. Just like corrupt kings and princes. First whips, then scorpions.
Obama is a lame duck President.
Congress should do what they would do if he was a Republican, announce all of his initiatives will be DOA.
Trump should announce that he will rescind all regulations put put in place in 2016-2017 until they can be reviewed.
Short of an Emergency, Obama should just go to the golf course and enjoy his remaining days living large on the taxpayers dime.
“Short of an Emergency, Obama should just go to the golf course and enjoy his remaining days living large on the taxpayers dime.”
I agree with your whole statement but especially this
The IRS is the lefts gestapo.
I bet Sharpton is shaking in his boots. obama’s edicts are for the little people and those who dislike him.
I’ve got a great idea to reduce tax evasion: Reduce the tax rate to give less incentive to avoid taxes.
It would also help to simplify the tax code so there aren’t 1000s of ways (exemptions) the government uses to influence/control businesses but which can also be used to reduce taxes legally without doing what the government expected.
“”Why is an executive branch sending legislation to Congress to rubber-stamp? That is what a politburo would do, and it is also against separation of powers; hence it is not Constitutional.””
All administrations propose bills to Congress. Surely you recall “obozocare.”
I would prefer to see the IRS go after the tax cheats in the various agencies who are delinquent on their federal taxes and no one gives a hoot!
DING...DING...DING....We have a winnah!
“”Article 1 Section 1 that “(a)ll legislative powers herein shall be vested in a Congress of the United States” and clearly gives the executive branch no power over it whatsoever””
There is nothing in the U. S. Constitution that prohibits the president from proposing legislation - he finds his favorite congressman to put it forward. It’s done all the time and has been for years. Congress has to vote on that legislation and are fulfilling their duty under the constitution. The president is not making the laws; they are passed or not passed by Congress. Of course, we have the current president writing executive orders outlining all kinds of actions but in actuality, they are intended only for EXECUTIVE purposes but he doesn’t understand that.
Would be nice to have a president who realized what his real obligations are to the country and to the constitution. They certainly aren’t golf outings and vacations.. No one has to be a genius to understand that this is a lark for him - always has been. A place holder for something much worse!
http://legal- dictionary.thefreedictionary.com/Executive+Order
“”Historically, executive orders related to routine administrative matters and to the internal operations of federal agencies, such as amending Civil Service Rules and overseeing the administration of public lands. More recently, presidents have used executive orders to carry out legislative policies and programs. As a result, the executive order has become a critical tool in presidential policy making.””
https://en.wikipedia.org/wiki/President_of_the_United_States
“”The Constitution’s Ineligibility Clause prevents the President (and all other executive officers) from simultaneously being a member of Congress. Therefore, the president cannot directly introduce legislative proposals for consideration in Congress. However, the president can take an indirect role in shaping legislation, especially if the president’s political party has a majority in one or both houses of Congress. For example, the president or other officials of the executive branch may draft legislation and then ask senators or representatives to introduce these drafts into Congress. The president can further influence the legislative branch through constitutionally mandated, periodic reports to Congress.””
“”The Constitution’s Ineligibility Clause prevents the President (and all other executive officers) from simultaneously being a member of Congress. Therefore, the president cannot directly introduce legislative proposals for consideration in Congress. However, the president can take an indirect role in shaping legislation, especially if the president’s political party has a majority in one or both houses of Congress. For example, the president or other officials of the executive branch may draft legislation and then ask senators or representatives to introduce these drafts into Congress. The president can further influence the legislative branch through constitutionally mandated, periodic reports to Congress.””
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