CNBC Defends Tax Cheats

According to CNBC host Michelle Caruso-Cabrera, “tax havens help keep your taxes lower by providing tax competition.” Oh, and they “are about preventing tyranny” as well. Good grief.

Source here.

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7 Comments

Filed under Taxation, Wingnuts

7 responses to “CNBC Defends Tax Cheats

  1. Ti-Guy

    Oh man. The Americans really need a broadcast standards council and fast.

    And in case anyone’s asking, it’s not a government agency. It’s a body made up of private broadcasters who, together, adjudicate complaints submitted to it by the members of public, who own the airwaves that have been graciously licensed to them.

  2. hemmingforddogblog

    Wow! WTF is “tax competition”?

    So, if I understand her, the more people cheat on their taxes, the less the rest of us pay? Cool…

    Makes sense…

  3. How is a person who understands that little about economics a host on CNBC?

    Oh, wait. The question answers itself, doesn’t it?

  4. Ti-Guy

    Tax sheltering is not the same thing as cheating; ie. not declaring everything you need to on your tax return. It usually involves setting up financial and material assets that your own country has no way of knowing about or are legal within the laws of your own country.

    What she’s arguing is that this system, which permits high income earners to reside within a country that provides all kinds of public benefits through progressive taxation and social spending while avoiding paying for them by sheltering their assets abroad is objectively good, since it provides the necessary competition that will force the state to keep taxes as low as possible. Which is a crock. There is no level of taxation low enough that will prevent high income earners from gaming the system.

  5. I know it’s not technically correct, but it seems like “cheating” to me. Besides “tax shelterers” didn’t sound as catchy.)

  6. Okhropir rumiani

    Waah! France and Germany don’t wanna compete!

  7. benalbanach

    Wish it were possible to switch America off for a while.

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