TAX ON OFF-SHORED ILL GOTTEN GAINS

Nearly forty three trillion dollars of US assets have been deposited in Caribbean banking havens, much of t money held in so called estate and gift planning trusts. On much of this money, income tax has never been paid to our US Treasury, while the beneficiaries consume unimaginable amounts of Federal Government services, both personally and commercially. While advocates for the mega-rich continue to spin the alleged fiscal cliff as an event that threatens us as badly as Dan Quayle's asteroids or the Mayan end of the world, and other fifth columnists such as 'No Labels" try to intimidate and trick moderates and independnts into 'bipartisan' support for a Grand Deal that stnds only to benefit the wealthy and their bought and paid for advocates adn politicians, the rest of us face yet another challenge to our ability to be happy, prosper, and enjoy any of the goods one may win in the US and to have even a minimally decent lifestyle. So why not tax this Ill Gotten Gain at a fair rate? Even a ten percent flat amnesty penalty on it allowing the net money to be on-shored again would pretty much pay off the deficit? Why not order the Commissioner of IRS to study and issue appropriate Regs and Guidance starting such a program? You would have only the ire of the people ---and a looming Federal Full Faith and Credit Crisis to avoid.