Offshore 'Tax Havens' of The U.S. Corporate Elite

Offshore 'Tax Havens' of The U.S. Corporate Elite

rawstory.com

Tax money for tax cheats.

It's hard to otherwise describe the continuing federal bailouts that major US companies are enjoying in this woeful era of fiscal disaster, especially when--as a scandalous new report reveals--many of the key players aren't paying taxes.

The Government Accountability Office (GAO), Congress' investigative watchdog, has found that "a majority of America's largest publicly traded companies and the U.S. government's largest federal contractors use multiple subsidiaries in offshore tax havens to conduct business and avoid paying U.S. taxes," writes Carol D. Leonnig for The Washington Post.

(visit the link for the full news article)

The hits just don't quit with these crooks.

I can't even begin to surmise how truly WRONG this picture is...

So let me get this straight, these same people who are paying NO taxes, are now robbing the working class that DO?

And more insane than the fact that they've gotten away with it, thanks to our ever criminalistic government and their loan shark the FED, is the fact that they ARE NOT DONE! Bernanke STILL is asking for more!

People we are being raped, pillaged and plundered by TPTB, and they arer playing us all for absolute fools!

rawstory.com
(visit the link for the full news article)

reply to post by DimensionalDetective

I for one am fighting this globalist agenda. If your corporation does not want to pay US taxes then move to Dubai ala Haliburton. Then the American people need to start our own corporations with the rights and responsibilities bestowed by the US government including taxes!

We must restore tariffs and support fair trade agreements for American workers! If these corporations don't like it then pay the tariffs for the goods they want to sell in the US. We must reinvigorate unions as a power that US corporations must bargain collectively for the betterment of our nation. Not chase cheap labor around the globe in a race to the bottom. Wages must rise for the middle class if our country is to prosper!

I think the American public is finally catching on to who the REAL thieves are! Since Reagan it has been one paper pushing scam after the other with no REAL WEALTH being created. Real wealth is created with an active and vital manufacturing sector nothing else. Not tech bubbles, not stock market bubbles, not housing bubbles! I hope all of you who supported this "new economy" are finally able to admit your mistake and join us in rebuilding a new America based on tangible assets not the latest Wall St scheme!

Aren't you pissed off yet. They had their party and have handed you and your children and grandchildren the bill!

I don't believe this, I simply do not believe this! For those who are in debt because of houses, cars, and simply trying to pay off college that's horrible, and let's include those who are in college just as well; but you mean to tell me people are out their having a grand 'ol time while people struggle to survive over here?!

It's stories like this that make me just want to turn away from A.T.S and become a part of those sheeple, drown everything out with Television and video games, yet I don't want to. Part of me just wants to look at the taxes that are being imposed upon me and just say "No thanks" the other part of me knows that if I do I'll be in Jail, yet since these people can escape I wonder if I would be able to do the same.

is that really true?

the american tax payers are footing the bill for the bailouts but the recipients of the bail-outs either aren't paying taxes, or, their fair share of taxes?

somehow i find that one a little hard to believe if i'm reading it right.

reply to post by ll__raine__ll


According to this newly released report, that's EXACTLY what is happening. These people don't even pay taxes. But they are robbing the people who do, for generations to come. It is so insulting it's incomprehensible.

reply to post by ll__raine__ll


Is it really that hard to believe? I'm surprised to even see this here, I had thought that it was common knowledge. Big shots all over the world have been hiding their money in Switzerland and the Caymans since financial times immemorial. The real question is if anything can be done about it. Most of the time these actions are perfectly legal and in this globalist climate (shudders) it just gets easier. With no trade barriers these guys can manufacture in foreign countries for next to nothing, sell to us for a tidy profit, then avoid taxes in these off shore institutions. Pretty tidy arrangement, don't ya think?

reply to post by Orwells Ghost


Yeah, I actually don't think the "tax-haven" thing is a big surprise here, but more so the fact that these same folks who don't even PUT INTO THE SYSTEM are concurrently robbing it (and us) blind. The little people are getting violated beyond words by these greedy crooks.

Yes and these are the folks that contribute enormous campaign contributions, hire scumbag lobbyist and essentially pull the political strings.

We plebeians don't even rate a recognition.

It's a brave new world, welcome to the monkey house.

Read Kurt Vonnegut, he predicted this world 20 years ago.

reply to post by DimensionalDetective


ok fine, i do believe it. but surely there must be another side to this story that gives a more balanced and logical explanation for why these companies do what they do and how they're allowed to do it.

it just defies belief that they're allowed to take your tax money, profit from it and not contribute their own fair share.

reply to post by ll__raine__ll


Unfortunately, for the past few decades, that's the way the game has been rigged. It's only in recent times where their greed has been reaching DIRECTLY into our pockets. The Corporate Elite are who run this country and it's politicians-Make no mistake about it.

just to add ...

i'm not really arguing here. if i were american i'd already be totally pissed about all the bailouts let alone the recipients having tax havens.

the tax haven part is just the cherry on the top. the implications are so outrageous ... that's what defies belief.

OK, some unrequested opinion:

The key to their success has been to manipulate the IRS tax-code. Consider; the very same organization which is the 'gate keepers' intended to secure the revenue necessary for the running of our gargantuan government is the IRS. The IRS is subordinate, in popular understanding, to the Secretary of the Treasury of the United States, no? Well, kind of.

Fist off, it is NOT a secretarial position any longer. His authority as a public servant was removed from the ministerial, and administrative was elevate to the level of Czar of the Treasury last May (Remember the big bail out vote that rendered his 'powers' unchallengeable either by the legislature and OR civil court?)

Now, be that as it may, even had he not been made the Supreme ruler of the United States economy, the entire driving force behind the IRS is the FED. Remember them? They hold the key to the economy in their monopoly on control of interest rates and monetary supply (inflation). The money the IRS collects is for them..., for all intents and purposes exclusively.

However, it bears noting that the owners of the FED, the Transnational central banking combine, cartel, cabal, what have you, are the practical owners of ALL those mega-industries that are circumventing the tax code by taking advantage of their transnational status, they are protected as citizens, but not taxed as citizens. Corporate entities have entire legal practices whose function is to manipulate the code via lobbying and the legal system.

So in essence - it's the bankers themselves who are short-changing the tax revenue system, leeching wealth by not actively participating in the system of debt they themselves control.

It's like getting ripped off twice, savvy?

MM

[edit on 16-1-2009 by Maxmars]

i don't know if what you're saying makes sense because it's written so poorly i can't be bothered trying to decipher your meaning.

if english isn't your first language then please accept my apologies for not making a better effort here.

this topic still interests me though and i'd love to hear even a "devils advocate" type of explanation for what the thread author has published.

if there is none then this is an outrage beyond comprehension and it begs the question of ... why do you americans put up with this???

another thing ...

the lack of interest in this thread also leads me to believe that there is no real story here.

i bet if i started a thread that said something along the lines of, "you americans are so stupid ha ha ha, you're all paying for bailouts the recipients are getting fat on and aren't contributing to" ...

the backlash and explanations would be harsh and swift, no?

Originally posted by ll__raine__ll
i don't know if what you're saying makes sense because it's written so poorly i can't be bothered trying to decipher your meaning.

if english isn't your first language then please accept my apologies for not making a better effort here.

this topic still interests me though and i'd love to hear even a "devils advocate" type of explanation for what the thread author has published.

if there is none then this is an outrage beyond comprehension and it begs the question of ... why do you americans put up with this???

Beg pardon?

reply to post by Maxmars


i'm just saying i found it hard to understand what you were saying because you didn't use standard english.

even this from you, "beg pardon" isn't a correct english term but it's short and to the point and easy enough to decipher.

add a tonne of other stuff like you did and it becomes kind of wearisome to make out.

The corporate tax rate in America is the highest of any major countries.
American companies are not competitive in the world.
They move offshore to become more competitive because of lower taxes.
Lower the tax rates and they stay onshore and sell more and hire more.

If not, eliminate corp and individual taxes and go to a flat consumption tax.

You buy, you pay.

reply to post by Bejing


are you saying the american people "should" be paying the taxes of the bailed out companies?

Hear that sound? Sounds like island music in the background and someone clicking on a computer and watching all this money flowing from the bailouts into their island accounts. Now they walk outside onto a private beach and scream suckers! Shhhh, if you strain your ears America you just might hear them!