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Taxation Through Conspiracy

The lamestream media told you:

Three Asian electronics giants have agreed in San Francisco federal court to plead guilty and pay $585 million in fines for conspiring to drive up prices for LCD screens used in computers, cell phones and TVs. Assistant attorney general Thomas Barnett said, "These price fixing conspiracies affected millions of American consumers, forcing them to pay more for these products." There is a $70 billion dollar worldwide market for LCD screens. http://tinyurl.com/7k4nfr

The Uninvited Ombudsman notes however that:

In a clever new taxation scheme implemented by the federal judiciary, consumers are fleeced by foreign manufacturers, government officials squeeze the money out of the companies in court, and then pocket hundreds of millions in the process. "If we were criminally overcharged by foreigners, how come the government gets all the cash?" asked one incredulous taxpayer. Reporters failed to ask the obvious question, running the AG's press release almost verbatim.

The fines amounted to about eight-tenths of one percent of the global market for the devices. It was unclear how much profit the companies made on the guilty plea. No one was arrested in the illegal cartel conspiracy, because the people involved had to go back to work, and the government was satisfied with its take in the operation.

Barnett said this "should send a clear message that the Antitrust Division will vigorously investigate and prosecute illegal cartels." The cartels are believed to view the case as a mere cost of doing business, and from behind closed doors laugh out loud at a judiciary that allows its constituents to be fleeced, so that government officials can collect money after the fact.

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About the Author

  • Freelance writer Alan Korwin is a founder and past president of the Arizona Book Publishing Association. With his wife Cheryl he operates Bloomfield Press, the largest producer and distributor of gun-law books in the country. Here writing as "The Uninvited Ombudsman," Alan covers the day's stories as they ought to read. Read more.

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