Friday, January 27, 2006
This article about the IRS prosecuting lawyers who come up with tax shelters did more than strike me. It's just plain wrong. Think about it. Congress passes laws that require us to pay taxes. Once you establish the rules and write them down, it's up to the lawyers to figure out the loopholes and the way around them.... So, when enterprising lawyers go out there and successfully figure out how to shelter money from taxes, the IRS takes aim and prosecutes the lawyers for being smart enough to figure out what they did wrong when they wrote the code. I'm not sure if the lawyers are being prosecuted because they showed the ... [idiocy] of the IRS and Congress to the rest of us or because the result of their work actually means less dollars in the government's hands and more money in our hands.