Economy

Trump $500B plan for Black Americans to label KKK, Antifa as terrorist organizations

Published

3 years ago

September 25, 2020

The Republican Party tweeted that President Donald Trump is expected to announce on Friday a plan for Black America that will increase access to the amount of capital in Black communities by $500 billion, designate the Ku Klux Klan (KKK) and Antifa as terrorist organizations, and call for making lynching a federal hate crime.

Today, President @realDonaldTrump is unveiling his Black Economic Empowerment-Platinum Plan which will lead to historic opportunities, security, prosperity and fairness for ALL Americans!https://t.co/KUGlDng2jW
— GOP (@GOP) September 25, 2020

“For decades, Democrat politicians like Joe Biden have taken Black voters for granted. They made you big promises before every election—and then the moment they got to Washington, they abandoned you and sold you out,” Trump is expected to say on Friday, in information obtained exclusively by Fox News. “The Democrats will always take Black voters for granted until large numbers of Black Americans vote Republican.”

The “Platinum Plan” is what his campaign is calling it, according to the Fox News piece. The details of which are expected to emphasize “opportunity,” “security,” “prosperity,” and “fairness” for Black Americans.

The death of George Floyd, a Black man, at the hands of a Minneapolis police officer on May 25 propelled the issues surrounding race and the criminal justice system back into the national spotlight and sparked massive nationwide, and worldwide, protests and riots this summer. These protests, while mostly peaceful, have seen lots of violence and looting occur by some, whom the president and Attorney General William Barr have said are part of anarchist group Antifa.

He has faced severe criticism for his overall handling of the unrest this summer from both the left and the right. The most infamous incidents of this were when law enforcement used tear gas to clear protesters out of Lafayette Square in front of the White House for Trump to then pose for a picture in front of the nearby church while holding the Bible, and then when camouflaged federal agents arrested violent protesters and pulling them inside unmarked vehicles in Portland, Oregon.

On top of the $500 billion in increased access to capital in Black communities, according to his campaign, the plan will also spur the creation of 500,000 new Black-run businesses and three million new jobs for Black Americans.

Among the many other proposals, the plan will also include a landmark proposal to make Juneteenth a national holiday. Juneteenth commemorates the liberation of the last U.S. slaves on June 19, 1865 by Union forces. The holiday, which has celebrated since the year after their liberation, gained mainstream recognition this summer amidst the renewed focus on issues surrounding racial justice and the criminal justice system.

You can follow Douglas Braff on Twitter @Douglas_P_Braff.

Economy

Swiss Bank Admits to $5.6 Billion Tax Evasion Scheme, Settles for $120 Million

Published

2 days ago

December 7, 2023

Sara Carter Staff

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.