Romney's Bain Cap Tax Dodge - Offshores Sensata to Make $3 Billion (reportedly).
Bloomberg News did a story a week ago, concerning inversion and other tax dodging schemes, with some emphasis mainly on Bain (Capital). The story is titled;
Tax Dodge Used by Bain Escapes Scrutiny on Inversions
That story was expanded upon by North Jersey.com's story
Companies find other ways to move offshore and avoid U.S. taxes
The story reports that -
NEW YORK — There's more than one way for a U.S. company to avoid taxes by claiming a foreign address.
Consider the business founded in 1916 as General Plate Co., a maker of sensors and controls for everything from Fords and Frigidaires to the spaceship that first carried Americans to the moon. While its top executives are still based in Attleboro, Mass., it's now known as Sensata Technologies Holding NV of the Netherlands.
Instead, Sensata is one of at least 13 firms that have left the U.S. tax system through a sale to an investment fund, according to a tally by Bloomberg News. Although these companies have a combined market value of about $75 billion, this tax-avoidance strategy has gotten less attention in Washington than inversions and may be harder to discourage.
These buyouts mean profits for the U.S. private equity firms like Boston-based Bain Capital that orchestrated them. Bain earned more than $3 billion after it took Sensata public as a Dutch company in 2010, with an effective tax rate about one-tenth of some competing manufacturers.
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Between Bain Capital's off-shore steps, Romney's "retroactive" retirement (to evade prosecution for destroying public & private companies by his "Bankruptcy Rings"; and their abject silence (no comments).
Money will keep going everywhere it's not supposed;
-------------------------------------------------------------------And America will keep getting the shaft!
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