Shocking: Offshore tax havens of the US corporate elite

[babsbunny]

http://rawstory.com/news/2008/Offshore_tax_havens_of_US_corporate_0116.html

Shocking: Offshore tax havens of the US corporate elite

Mike Sheehan
Published: Friday January 16, 2009



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.

[stillcool]

1. I don't know when this was written...

but it makes things so much clearer. How many "American" Corporations, are global?

http://www.colorado.edu/AmStudies/lewis/2010/decline.htm
Demands Made by Transnational Corporations to do Business in a
Country under the Global Economy

1. Greatly reduce Corporate taxes and taxes on the rich.

2. Greatly reduce government spending in order to cut taxes.

3. Increase taxes on the middle-class and poor to pay for the necessary government services, such as support for TNCs.

4. Reduce environmental, work-safety, and product-safety regulations.

5. Provide millions and millions of dollars in tax incentives and subsidies to TNCs in order to convince them to locate in your country.

6. Build and support modern industrial factories for TNCs to use rent-free.

7. Create tax-free export processing zones so that TNCs can produce products without paying any taxes at all.

8. Reduce and lower worker's wages by keeping the minimum wage low or eliminating the minimum wage altogether.

9. Reduce the costs of hiring workers by reducing or eliminating workers' compensation taxes, social security taxes,and health insurance taxes.

10. Allow child-labor at almost any age and under any conditions.

11. Do not enforce maximum work-day hours, such as the eight hour day or the 40 hour week.

12. Use government power to crush and weaken labor unions. Allow companies to hire security firms to harass and intimidate workers and unions.

13. Allow TNCs to freely take their money and profits out of your country.

14. Reduce government support for health-care, education, and anti-poverty and anti-hunger programs, forcing workers to work for any wage just to take care of and feed their families.

15. Support global free trade and work to prevent countries from denying companies the right to sell their products despite the brutal conditions, environmental destruction, and exploitation of their workers.

16. Don't restrict or limit immigration and encourage high levels of unemployment in order to force workers to compete by working for lower and lower wages.

17. Limit and restrict local and national government control over their economies. Encourage global bodies to set economic standards that will benefit TNCs.

18. Limit the ability of workers and citizens to challenge the TNCs and their own government's economic programs which help the TNCs at their expense.

19. Create massive national debts in order to bankrupt governments and force them to be even more at the mercy of the TNCs. Governments can thus say they have no choice but to accept these conditions.

20. Force your citizens to accept lower standards of living and quality of life in order to guarantee higher profits for TNCs.

[Tandalayo_Scheisskopf]

3. You know, we have a very effective tool to deal with this:

Something called "The U.S. Marines". The beaches at Cayman Brac are beautiful, gently sloped and perfect for a large-scale amphibious landing, to seize these illegally off-shored assets.

It would be a damned site better use of them than killing brown folks for being brown folks. The British would get over it. Someday.

[Mari333]

2. Dornan and Levin eh??? SIC em!

hopefully the corporate lobbying interests who run the politicians wont hang the sword of Damacles over the heads of their bought and paid for boys and girls in the senate and house.
we can see how honest they are about 'change' now.