US loses $100 billion a year in offshore tax havens

[The Rabbi]

Do you think that high income people pay no taxes?

In fact the way it works is, high income people have a greater incentive to avoid taxes because it means more money. You could probably find a tax loophole that will save you $2.50 a year. Would you do that? Probably not.
But if it meant saving $50,000 a year you might well.

If you close the loopholes people will find other ways to shield income, including moving and working less. This is why France is the economic powerhouse it is.
The only way to eliminate loopholes is to eliminate incentives to create and use them. That means lowering rates substantially.

 

[Shogun]

yea.. ok, Wesley Snipes.




don't want to pay the dues then get the fuck out of the club.

 

[Richard-H]

When it comes to these 'Offshore Tax Havens', it isn't just a matter of wealthy Americans and corporations not paying taxes. These provide a safe banking haven for every drug dealer, war criminal, arms merchant, terrorists and every other form of scum that continues to ruin the lives of millions of people throughout the world.

Where do you think Lenin & Stalin did their banking? Switzerland! No Shit!

The French are right - we need strong international banking regulation.

If we could eliminate these safe havens 90% of the world problems would disappear!

 

[Toro]

That is the argument I hear from the right, but I disagree. Sure companies will go offshore if allowed. That's why we have tariffs on imports. Instead the GOP made it more attractive to leave. Why? Oh yea, Haloburton moved overseas.

The GOP House Ways and Means got together, I forgot the year, but it was around 2002. They got together to discuss companies going overseas and when the meeting was over, they passed even bigger tax breaks for companies going overseas. Most thought they were going to come up with something to discourage companies from leaving, instead they made it easier.

I have no idea if you are correct or not, but I do not recall the GOP passing any taxes to make it easier to go offshore. If you could provide a link, it would be appreciated.

What the Republicans did do - and to which you may be referring - is they provided a tax break to companies to repatriate foreign dividends.

 

[sealybobo]

i blame bush.

Remember this? Yes, you should blame Bush and Republicans.

 

[del]

^
little waltky