Why the GOP should never rule Warshington

Discussion in 'Economy' started by sealybobo, Sep 12, 2008.

  1. sealybobo
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    sealybobo Diamond Member

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    Morgan Stanley, Lehman Brothers. and other Wall Street giants helped foreign investors dodge billions of dollars in U.S. taxes on stock dividends while the IRS looked the other way, a Senate investigation found.

    The firms worked with shell hedge funds that had little more than offshore mailing addresses in the Cayman Islands and elsewhere. The funds arranged complex equity swaps and stock loans aimed at circumventing U.S. tax laws, a staff report by the Senate Permanent Subcommittee on Investigations said.

    For 10 years, the IRS has neither enforced existing rules prohibiting the transactions nor tried to draft new standards, the 77-page report said.

    “These are gimmicks peddled by American financial institutions to deny Uncle Sam taxes owed under our law,” Senator Carl Levin, who heads the panel, told reporters. “The IRS has pussyfooted on this.”

    Morgan Stanley enabled foreign clients to avoid payment of more than $300 million in U.S. dividend taxes from 2000 to 2007, the report said. Lehman estimated its customers eluded payment of as much $115 million in 2004. UBS helped clients escape payment of $62 million from 2004 to 2007.

    http://www.financialweek.com/apps/pbcs.dll/article?AID=/20080911/REG/809119995/-1/TOC
     
    Last edited: Sep 12, 2008
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    page not found, can u try to link again please? :)

    good morning sealy
     
  3. jillian
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    jillian Princess Supporting Member

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  4. editec
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    editec Mr. Forgot-it-All

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    souce

    I think you have to come in through the home page to access the full article
     
  5. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Where is Warshington?
     
  6. sealybobo
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    sealybobo Diamond Member

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    oh, you got it. Good. I think you work in tax law, right? So you see they make it so confusing so they can slip shit in and give the rich tax breaks.

    Only the Morgan Stanley's and Lehman brothers, basically only the Good Old Boys know about it. So the really rich don't pay taxes.

    Yet for some reason this won't upset the neo kooks on these boards. They'd want to hang you for treason if you didn't pay taxes, but they :eusa_clap: the rich when they do it. :cuckoo:
     
  7. sealybobo
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    sealybobo Diamond Member

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    Oh, is John McCain saying it wrong? You Schee my friends, in Warshington....and that's some schtrait talk for ya.
     
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  8. Gunny
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    Gunny Gold Member

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    Hey poof ... what does this article have to do with your stupid, whacko-partisan thread title? If I was a liberal and still a Democrat I'd be telling you to shut up. You're embarrassing.
     
  9. sealybobo
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    sealybobo Diamond Member

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    :cuckoo:
    :cuckoo: wHATEVER SIR.

    Hey, did you hear because of the hurricane gas in Michigan and a few other parts of the country, gas is shooting up to $5 or even $6 a gallon!!!!

    I knew the GOP would have the balls to push it to at least $5.

    :clap2:
     
  10. dilloduck
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    dilloduck Diamond Member

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    oh man--there must be some kind of punishment for being so fucking dumb !:lol:
     

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