Economy
Carter Exclusive: Warning to Biden on America’s Survival from National Black Farmers Association President
Sara Carter’s exclusive report with the National Black Farmer’s Association President reveals one critical message for President Biden: “If you want this country to survive, take care of the American farmer.”
Fox News contributor Sara Carter spoke to the President of the National Black Farmer’s Association, John Boyd Jr., from Boydton, Virginia to discuss the inflation crisis. Inflation is hurting farmers and consumers around the country and “the American people” are going to pay the price. “Because this is a crisis” said Boyd.
“The three things that the American farmer can still do better than anywhere else in the world is produce corn, wheat and soybeans. And when you don’t support them, you are taking away the base and the freedom to farm in this country.”
Carter pointedly asked “who is not supporting them?”
“Well right now it’s the Biden administration” he responded.
“If you could speak to President Biden directly, what would you say to him?” Carter followed up.
“I would say ‘you gotta take care of the American farmer in this country. That’s rural America. You can’t turn your back on rural America. If you want this country to survive, take care of the American farmer.”
Pointing to the ground, Boyd gave a heartfelt plea: “this is called land. Land knows no color, land knows no party. Land produces food. And when you take away that ability for the American farmer to produce food, it’s about as low as you can go.”
Banque Pictet, the private banking arm of the Pictet Group based in Switzerland, has admitted to conspiring with U.S. taxpayers to hide billions of dollars from the Internal Revenue Service (IRS) in over 1,600 secret bank accounts. The Justice Department revealed on Monday that Banque Pictet has agreed to pay over $120 million in restitution to the U.S. Treasury as part of a settlement.
The bank’s involvement in the tax evasion scheme spanned from 2008 through 2014, during which it conspired with American taxpayer clients to conceal more than $5.6 billion of the approximately $20 billion in U.S. assets. This led to an evasion of around $50.6 million in U.S. taxes, according to prosecutors.
Of the $5.6 billion concealed, the funds were distributed across 1,637 accounts, implicating more than 40% of the total 3,736 private accounts owned by U.S. taxpayers held by the bank. Banque Pictet reportedly assisted its American clients in hiding their undeclared accounts through various means, including the formation and administration of offshore entities. Undeclared accounts were then maintained in the names of these entities on behalf of U.S. taxpayer clients.
Jim Lee, Chief of IRS Criminal Investigation, emphasized the importance of the case in sending a strong message to those attempting to hide assets and income offshore. Lee stated, “This case should provide a clear message to others who try to hide their assets and income offshore. Offshore tax evasion is a priority for IRS Criminal Investigation.”
The settlement underscores the ongoing efforts by U.S. authorities to combat tax evasion and sends a clear warning to financial institutions and individuals involved in such illicit activities. As regulatory scrutiny intensifies globally, financial institutions face increasing pressure to ensure compliance with international tax laws and prevent their involvement in tax evasion schemes.
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