shintao
Take Down ~ Tap Out
- Aug 27, 2010
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Don't blame the rich, blame yourself.
When you go to a foreign country, you learn to do as the citizens there do. You try the chop sticks, buy a kilt, take the trolley, etc. So the question is, why in your own country don't you do what it takes to become rich? How come you haven't learned how to hide your money and assets, avoid taxation, and invest in tax free incomes? If you want to be rich, you have to do what the Rich do to become successful. Here is a lesson in hiding your money in tax free havens, which is completely legal in America. We shouldn't blame the rich, we should blame ourselves.
If you want all the tax breaks denied the individual, you incorporate yourself. You are still the same person, just the name changes of who you are. And once that is done you are ready to open up a tax free heavenly haven.
This article is overly simplified, saying get a PO. Box in the Bahamas or the banking capital of the World, Belize. You may want to change your USDs into a foreign currency that offers more stability, better trading dollars and higher interest rates. Then as the World slides away, your money is protected somewhat from the fall. You might want a foreign lawyer to move your money there and hide your identity, but once you have the deposit account, you are just a bank number among millions of world depositors without ID. You use a debit card in the USA, which again is a number. And it becomes virtually impossible to id you or your business practices. http://www.asset-protection-international.com/offshore-jurisdictions/belize-companies.php
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The middle class, by and large, plays by the rules, then watches as its jobs disappear -- and the Senate takes a break instead of extending unemployment benefits. The corporate class games the system -- making sure its license to break the rules is built into the rules themselves.
One of the most glaring examples of this continues to be the ability of corporations to cheat the public out of tens of billions of dollars a year by using offshore tax havens. Indeed, it's estimated that companies and wealthy individuals funneling money through offshore tax havens are evading around $100 billion a year in taxes -- leaving the rest of us to pick up the tab. And with cash-strapped states all across the country cutting vital services to the bone, it's not like we don't need the money.
You want Exhibit A of two sets of rules? According to the White House, in 2004, the last year data on this was compiled, U.S. multinational corporations paid roughly $16 billion in taxes on $700 billion in foreign active earnings -- putting their tax rate at around 2.3 percent. Know many middle class Americans getting off that easy at tax time?
In December 2008, the Government Accounting Office reported that 83 of the 100 largest publicly-traded companies in the country -- including AT&T, Chevron, IBM, American Express, GE, Boeing, Dow, and AIG -- had subsidiaries in tax havens -- or, as the corporate class comically calls them, "financial privacy jurisdictions."
And while it's as easy as opening up an island P.O. Box, not every big company uses the dodge. For instance, Boeing's competitor Lockheed Martin had no offshore subsidiaries. But far too many do -- another GAO study found that over 18,000 companies are registered at a single address in the Cayman Islands, a country with no corporate or capital gains taxes.
"I'll still live in America, earn my living here, and enjoy the protection, technology, infrastructure, and all the other myriad benefits of the land of the free and the home of the brave. I'm just changing my business address. Because if I do that, I won't have to pay for those benefits -- I'll get them for free!"
CorpWatch*:*Offshore Corporate Tax Havens: Why Are They Still Allowed?
==========
So if reading the article leaves you a lil angery, just kick yourself, because you can do the same thing, just on a smaller scale.
When you go to a foreign country, you learn to do as the citizens there do. You try the chop sticks, buy a kilt, take the trolley, etc. So the question is, why in your own country don't you do what it takes to become rich? How come you haven't learned how to hide your money and assets, avoid taxation, and invest in tax free incomes? If you want to be rich, you have to do what the Rich do to become successful. Here is a lesson in hiding your money in tax free havens, which is completely legal in America. We shouldn't blame the rich, we should blame ourselves.
If you want all the tax breaks denied the individual, you incorporate yourself. You are still the same person, just the name changes of who you are. And once that is done you are ready to open up a tax free heavenly haven.
This article is overly simplified, saying get a PO. Box in the Bahamas or the banking capital of the World, Belize. You may want to change your USDs into a foreign currency that offers more stability, better trading dollars and higher interest rates. Then as the World slides away, your money is protected somewhat from the fall. You might want a foreign lawyer to move your money there and hide your identity, but once you have the deposit account, you are just a bank number among millions of world depositors without ID. You use a debit card in the USA, which again is a number. And it becomes virtually impossible to id you or your business practices. http://www.asset-protection-international.com/offshore-jurisdictions/belize-companies.php
===========
The middle class, by and large, plays by the rules, then watches as its jobs disappear -- and the Senate takes a break instead of extending unemployment benefits. The corporate class games the system -- making sure its license to break the rules is built into the rules themselves.
One of the most glaring examples of this continues to be the ability of corporations to cheat the public out of tens of billions of dollars a year by using offshore tax havens. Indeed, it's estimated that companies and wealthy individuals funneling money through offshore tax havens are evading around $100 billion a year in taxes -- leaving the rest of us to pick up the tab. And with cash-strapped states all across the country cutting vital services to the bone, it's not like we don't need the money.
You want Exhibit A of two sets of rules? According to the White House, in 2004, the last year data on this was compiled, U.S. multinational corporations paid roughly $16 billion in taxes on $700 billion in foreign active earnings -- putting their tax rate at around 2.3 percent. Know many middle class Americans getting off that easy at tax time?
In December 2008, the Government Accounting Office reported that 83 of the 100 largest publicly-traded companies in the country -- including AT&T, Chevron, IBM, American Express, GE, Boeing, Dow, and AIG -- had subsidiaries in tax havens -- or, as the corporate class comically calls them, "financial privacy jurisdictions."
And while it's as easy as opening up an island P.O. Box, not every big company uses the dodge. For instance, Boeing's competitor Lockheed Martin had no offshore subsidiaries. But far too many do -- another GAO study found that over 18,000 companies are registered at a single address in the Cayman Islands, a country with no corporate or capital gains taxes.
"I'll still live in America, earn my living here, and enjoy the protection, technology, infrastructure, and all the other myriad benefits of the land of the free and the home of the brave. I'm just changing my business address. Because if I do that, I won't have to pay for those benefits -- I'll get them for free!"
CorpWatch*:*Offshore Corporate Tax Havens: Why Are They Still Allowed?
==========
So if reading the article leaves you a lil angery, just kick yourself, because you can do the same thing, just on a smaller scale.
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