Tag Archives: Tax evasion

Clarence Thomas Faces Call for Disbarment

By Roger Shuler
Legal Schnauzer

U.S. Supreme Court Justice Clarence Thomas should be disbarred for his failure to truthfully complete financial-disclosure forms over a 20-year period, according to a complaint filed by the watchdog group Protect Our Elections (POE).

In a bar complaint filed with the Missouri Supreme Court, POE attorney Kevin Zeese says Thomas committed multiple violations of the Missouri Rules of Professional Conduct. (See full complaint below.) Zeese asks the Office of Chief Disciplinary Counsel to take immediate action against Thomas, including disbarment.

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Next Up: A ‘Flat Tax’ for the Rich

By Michael Hudson
Counter Punch

The danger the United States faces today is that the government debt crisis scheduled to hit Congress next spring (when Republicans are threatening to vote against raising the federal debt limit as the government deficit soars) will provide an opportunity for the wealthy to give a coup de grace on what is left of progressive taxation in this country. A flat tax on wage income and consumer sales would “free” the rentiers from taxes on their property.

All governments have to levy taxes – that is, they have to tax somebody. Naturally,  the super-rich would like this tax to be shifted off their shoulders onto those who have to work for a living. In diametric opposition to Adam Smith and other putative “founding fathers” of “free market” neoliberalism, the super-rich want to shift taxes off “free lunch” economic rent – off interest, dividends, rents and capital gains – onto wage-earners.

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Accounting Fraud Continues to Plague U.S. Economy

By Zach Carter, Media Consortium blogger              Care2

Senate Banking Committee Chairman Chris Dodd (D-CT) unveiled his latest financial reform proposal on Monday, and the stakes for the new legislation couldn’t be higher. After consumer groups raised a major ruckus, Dodd has dropped one of his most egregious concessions to the bank lobby—cutting enforcement authority from the proposed Consumer Financial Protection Agency (CFPA). That’s good news: Without a major regulatory overhaul, the U.S. economy’s destructive boom and bust cycle will start all over again.

We’ve been down this road before. The Enron fiasco should have served as a wake-up call for policymakers, but instead, the weak federal response to Enron’s major fraud helped pave the way for the current economic slump.

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