Republican Congressman John Carter of Texas and Republican Congressman Lynn Westmoreland of Georgia yesterday introduced the “Geithner Penalty Waiver Act.” Congressman Carter is a former Texas judge. He says he is introducing the Geithner Penalty Waiver Act to grant all taxpayers currently seeking penalty relief on foreign deposit back taxes the same zero percent penalty rate as Geithner was assessed for failure to report or pay taxes on IMF income.
Finally, at least some Republicans understand that politics is a sport and you have to take the field and play to win, or you lose.
Of course, this will never become law but that is not the point. Exposing Democrats as the party of special privilege for the few is the point.
More at Tax Prof Blog
And even more at jr deputy accountant