The Nation: How the top U.S. contractor in Iraq skipped out on its taxes.

[marmar]

BLOG | Posted 03/06/2008 @ 4:56pm
Hiding in the Cayman Islands
Te-Ping Chen



Here in the United States, overseas tax evasion enjoys a bizarre degree of acceptance, with some tax avoidance purveyors even going so far as to try and patent some of their fancier schemes. But today's Boston Globe report, which details how Kellogg Brown & Root--the nation's top Iraq War contractor (financed with $16 billion in public funds)--has neatly sidestepped some $500 million in Medicare and Social Security taxes through use of shell companies in the Cayman Islands, should hopefully raise some eyebrows.

In the meantime, for more on KBR's pernicious backstory (involving bribe-taking, charging $45 per can of soda and receiving prostitutes as presents), check out last month's investigation from the Chicago Tribune. You can also read about the Levin-Coleman-Obama bill to curb overseas tax evasion here.


http://www.thenation.com/blogs/jstreet?bid=917

[spanone]

1. true patriots, eh?

:spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank: :spank:

[Bozita]

2. We could solve the national debt problem by invading and annexing the Caymans.

A much smarter move than Reagan's adventure in Granada.

[muntrv]

3. As usual, patriotism is only demanded of individuals, not corporations.

[Thothmes]

4. As far as tax avoidance is concerned

It is our Congress that writes the tax laws. They are the ones that make tax avoidance,on this scale, possible. Maybe some of the first pieces of business for the new Congress and the New President is to take some positive action to end this type of tax sheltering.

[sicksicksick_N_tired]

6. Nope! Monster corporations have implicitly been writing the laws since Reagan,...

,...AT LEAST.

Congress, MOSTLY REPUBLICANS, are guilty of handing over their power to corporacrats and should pay for that. However, the corporacrats should pay the ultimate price: their existence, IMHO. They've abused their power long enough.

[Thothmes]

9. No they have not.

It does not make a fat rats ass as to who writes the legislation. It must have the approval of the House of Representatives, the Senate and the President. They make the law, Not corporations. The fact is that the American people keep sending these jerks, both R and D, to the Congress is why the situation exists as it is.

[sicksicksick_N_tired]

5. Then, the fuckers should be exiled as a U.S. corporation and denied ANY contract!!!

This tax evasion crap WHILE WAR-PROFITEERING OFF THE AMERICAN PEOPLES' TREASURE pisses me OFF to no end!

:mad:

That company should be shut-the-hell-down!!!

[ChairmanAgnostic]

7. gotta say this. I LOVE THE NATION. the best news weekly out there.

if you don't subscribe, DO SO NOW. they need our help.

heck, last year, when the USPS tried to fuck them (and other smaller news weeklies) with a huge postage increase, the readership was so incensed, that they donated something approaching a million to the news org.

I highly recommend them to everyone here.

[SpiralHawk]

8. Republicons = corruption & evil doing & tax evasion