How Tax Cheats Are Using Your Money to Fund Republicans

Wyly did his cheating through an offshore scheme that hid $1 billion in profits via Isle of Man "shell companies" that existed only on paper, were registered under front men to hide the Wylys' names, and were used to carry out transactions and launder money. And that's only the hidden income that was found. The Dallas mogul, with a $1 billion admitted net worth, may be guilty of the biggest personal tax fraud in U.S. history. Full Story »

Posted by Dwight Rousu
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Subjects: U.S., Politics
Member Tags: tax evasion, political favoritism, shell companies, megarich, Wyly, cheats, banks, bankers, evasion
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Mike LaBonte
3.6
by Mike LaBonte - Oct. 1, 2008

Lots of evidence here, but not enough sources to back it up. Claims about S.681 match the bill text.

See Full Review » (11 answers)
Dwight Rousu
5.0
by Dwight Rousu - Oct. 1, 2008

The story outlines elaborate offshore tax ruses used by rich clients, including the swift boat Sam Wiley. The path is outlined in easy to understand form. The Bush inclination not to prosecuet is questioned.

See Full Review » (7 answers)
Ben Ross
4.9
by Ben Ross - Oct. 1, 2008

Strong report...Levin is acting like a representative of the people. the clear concise list of to do's make this more than a news story.... grade A reporting

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Kyle Klipowicz
4.8
by Kyle Klipowicz - Oct. 1, 2008

Yet another example of how the purposefully over-complicated world of high finance obfuscates tremendous crime with carefully constructed systems of deception.

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Gaurang Thakkar
5.0
by Gaurang Thakkar - Oct. 1, 2008

Great Piece. A bit wordy, but otherwise fulfills a central role of journalism: let the facts tell the story and make people mad enough to do something about it.

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