How many times did we hear the Left say President Donald Trump will give tax breaks to the wealthy and harm the middle class?
Too many to count.
But -- like everything the Left says -- it turns out that was a lie.
Wealthy Americans are actually looking to move their assets overseas out of fear of the Trump administration:
Americans both in the US and abroad are drawing up contingency plans to move assets to Switzerland amid uncertainty caused by the Trump administration. https://t.co/fmdzatNm6C pic.twitter.com/fTlTclEfwu
— Financial Times (@FT) March 24, 2025
Here's more from The Daily Mail:
Ultra-wealthy Americans are rushing to open Swiss bank accounts amid fears of economic turmoil and concerns their cash will be targeted by Donald Trump.
Increasing uncertainty and fears of potential restrictions on moving money overseas mean the rich are transferring hundreds of millions of dollars out of the US.
Robert Paul, co-head of private clients at UK-based wealth management firm London and Capital, told The Telegraph: 'These are big chunks of money. We've had five cases in the last three or four weeks, and the sums have been $40m, $30m, $30m, $100m and $50m.'
He added: 'I am expecting to have at least this again if not more.'
Paul told the outlet his clients are taking money out of US brokerage accounts and opening accounts in Switzerland and the Channel Islands of Jersey and Guernsey.
Where's the Left screaming about the wealthy paying their fair share now?
That doesnt work anymore, years ago law passed and Switzerland gives up US citizens info, no more anonymity
— Tunka (@Tunkatanka) March 25, 2025
Shhhh. Let them try this.
No one is doing this. There is no actual benefit of sending US money to Swiss banks. This is another European lie.
— Jack Baez (@NotreDameFan27) March 24, 2025
Wouldn't be surprised if it was a lie.
This doesn't mean much since the old Swiss banking system of "wire the money to my Swiss bank account" you'd see in movies and TV shows in the '70s and '80s no longer exists. Largely because the US smashed it to bits a decade or so ago. Now it's the same as opening a US account. https://t.co/BqRTrG478U
— Varad Mehta (@varadmehta) March 24, 2025
It doesn't mean a thing in the digital age.
Thinking about opening a Swiss bank account? The IRS will know about it just as if you'd opened an account at the local bank down the street. Any Swiss bank soliciting US clients is fully compliant with US law and regulations. It was a condition of their continuing to exist. pic.twitter.com/YsdifQBKQX
— Varad Mehta (@varadmehta) March 24, 2025
Oh, look at that.
More misleading reporting from the media, as always.
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