IRS Wants to be World Tax Cop

Watch the video and think about the larger issues beyond the trillions in capital that would leave this country because the IRS wants to use extra legal means to report foreign, non resident investment income to foreign governments. Besides the breathtaking economic stupidity, one has to ask why the executive branch wants to do this. In Europe and elsewhere, statist high tax governments and their cheerleaders have carping for years about 'tax competition"

They don't like the fact that certain countries have more favorable tax structures that attract capital away from high tax and/or corrupt countries, making it harder to impose a worldwide financial regime.