Taxes on the Rich

Republicans are adamant that the Bush tax cuts be extended indefinitely. Meanwhile the wealthy are doing their best to avoid paying any taxes. One of their favorite tricks is to put their money in overseas accounts. Switzerland used to be very popular, but with the court settlement in 2009, Swiss banks have been forced to disclose US clients to the IRS. Thus the rich have started moving their money to the Caribbean, Panama, and Singapore, but for some even that isn't enough. Last year 1788 Americans gave up their citizenship. These guys really don't want to pay taxes.