Why the GOP should never rule Warshington

[sealybobo]

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

 

[Care4all]

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

good morning sealy

 

[jillian]

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

good morning sealy

Try this... worked for me.

I-banks helped foreign investors dodge dividend taxes, Senate report says - Financial Week

 

[editec]

I-banks helped foreign investors dodge dividend taxes, Senate report says
Handful of firms peddled equity swaps, stock loans to clients; 'IRS pussyfooted on this'​

By Neil Roland
September 11, 2008

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 the money of U.S.-run hedge funds that used offshore mailing addresses in the Cayman Islands and elsewhere. The Wall Street banks arranged complex equity swaps and stock loans aimed at helping overseas investors circumvent 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.

Among some of the offshore hedge funds, Maverick Capital Management’s arrangements with Wall Street firms enabled it to avoid $95 million in taxes from 2000 to 2007, the report said. Many of the hedge funds had no offices or personnel in their offshore locations, but operated under the control of a U.S.-based manager.

souce

I think you have to come in through the home page to access the full article

 

[RetiredGySgt]

Where is Warshington?

 

[sealybobo]

Try this... worked for me.

I-banks helped foreign investors dodge dividend taxes, Senate report says - Financial Week

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 the rich when they do it.

 

[sealybobo]

Where is Warshington?

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

 

[Gunny]

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.

I-banks helped foreign investors dodge dividend taxes, Senate report says - Financial Week

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.

 

[sealybobo]

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.

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.

 

[dilloduck]

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.

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

 

[sealybobo]

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

There should be a punishment for people who voted for Bush twice and now consider voting for McCain.

How's the GOP economy going?

Retail sales unexpectedly drop in August
Rising unemployment, falling home prices are making shoppers cautious.

Oh, too bad, how about the war on terror?

KABUL, Afghanistan (AP) – An insurgent attack on an eastern compound killed a U.S. soldier on Thursday, bringing the year's death toll to 112 and making 2008 the deadliest for American forces in Afghanistan since the U.S. invaded the country in response to the Sept. 11 attacks.

 

[Zoomie1980]

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.

I-banks helped foreign investors dodge dividend taxes, Senate report says - Financial Week

Well what does that tell you? You can devise all kinds of tax hits to "soak the rich" and the rich will ALWAYS find a way to thwart you because they have vast resources, those than enact these edicts are themselves rich and always leave a loophole for themselves (and everyone else of means), and in the end, no matter who is in charge, even in the heyday of the old Soviet Union, the rich, powerful, and well connected will ALWAYS thrive.

You simply cannot win because what you believe in defies fundamental human nature.

 

[Zoomie1980]

There should be a punishment for people who voted for Bush twice and now consider voting for McCain.

How's the GOP economy going?

Retail sales unexpectedly drop in August
Rising unemployment, falling home prices are making shoppers cautious.

Oh, too bad, how about the war on terror?

KABUL, Afghanistan (AP) – An insurgent attack on an eastern compound killed a U.S. soldier on Thursday, bringing the year's death toll to 112 and making 2008 the deadliest for American forces in Afghanistan since the U.S. invaded the country in response to the Sept. 11 attacks.

The economy is very well. IT is behaving EXACTLY as it SHOULD.

Oh, and we lost over 300 last week to traffic accidents. Afgahnistan is SAFER than our own highways....

 

[CA95380]

Where is Warshington?

It is currently where George W. Bush lives. Soon to be evicted.

 

[editec]

Well what does that tell you? You can devise all kinds of tax hits to "soak the rich" and the rich will ALWAYS find a way to thwart you because they have vast resources, those than enact these edicts are themselves rich and always leave a loophole for themselves (and everyone else of means), and in the end, no matter who is in charge, even in the heyday of the old Soviet Union, the rich, powerful, and well connected will ALWAYS thrive.

You simply cannot win because what you believe in defies fundamental human nature.

They have vast resources when they control government, that's for damned sure.

 

[JimH52]

Read the article N*mb N*ts. While Lehman Brothers pushed for tax breaks for foreign investors, the IRS looked the other way. Now Lehman Brothers is going under and wants US tax payers to bail them out. And this administration may, if not blocked by Congress, throw them a life line.

 

[Care4all]

The economy is very well. IT is behaving EXACTLY as it SHOULD.

Oh, and we lost over 300 last week to traffic accidents. Afgahnistan is SAFER than our own highways....

zoomie....regarding what u said on afghanistan...it is appalling!!!

whenever repubs try to make this claim that our military men at war are in no more danger than if they were stationed here in the usa, i want to SLAP THE SHIT out of them, and i am not a violent person at all!!!!!!

you are slapping our soldiers and their courage and work done, in the face and diminishing their risk and the fear their families are going through*.

Spitting on our soldiers???

please reconsider posting that crap...

thank you,

care

 

[JimH52]

The economy is very well. IT is behaving EXACTLY as it SHOULD.

Oh, and we lost over 300 last week to traffic accidents. Afgahnistan is SAFER than our own highways....

You are an idiot and demagogue. bush will be laughing at you, and all your buddies who voted for him twice, for the rest of his life.

 

[clazona]

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.

Sealybobo, mental health is critically an issue for you. You almost take politics as a fan takes his favorite sports team. If he's on the other team, they must be the bad man. Hopefully someone can provide you with the proper treatment or meds.

 

[jreeves]

Well what does that tell you? You can devise all kinds of tax hits to "soak the rich" and the rich will ALWAYS find a way to thwart you because they have vast resources, those than enact these edicts are themselves rich and always leave a loophole for themselves (and everyone else of means), and in the end, no matter who is in charge, even in the heyday of the old Soviet Union, the rich, powerful, and well connected will ALWAYS thrive.

You simply cannot win because what you believe in defies fundamental human nature.

Omg...get ready for BoBo's speech on Captain America(Obama) will change Washington. Then endless unsupported chants as to how "all" Republicans are 'Bad'. He may even throw some baseless examples of how Mccain really is Bush in his own 'Bush Deranged' opinion of course, that will be touted as fact.