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Tax Havens: Bigger Than You Think, Closer to Home Than You Imagine


Business  (tags: tax havens, Nicholas Shaxson, book "Treasure Islands", huge corporations, corporate behavior, dismantling all regulation, world trade, "developent", crime, secrecy, U.S. a tax haven, U S territories, Luxembourg, U K, politicians, financial crisis )

Judy
- 1366 days ago - thenation.com
There now exists an entire parallel network of business conducted by huge corporations that actually mirrors the behavior of international crime organizations. Over half the world trade is now routed through tax havens.



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Comments

Barbara D. (70)
Friday April 1, 2011, 6:09 pm
Well. phooey! Where are the tax havens for us little folks???!!!
 

Marti Williams (170)
Friday April 1, 2011, 7:46 pm
Noted...thanks Judy...I guess since we never had that much...don't deserve any shelters...
 

John Y. (100)
Sunday April 3, 2011, 9:49 am
Thanks
 

Past Member (0)
Sunday April 3, 2011, 9:57 am
Thanks. That's why you set a rate that is paid rather than one which is avoided.
 

Ian Donelson (149)
Sunday April 3, 2011, 11:16 am
Tax Reform and Upper Class Tax Increase will be required to slash the deficit.
 

Past Member (0)
Sunday April 3, 2011, 2:07 pm
What about the "local" tax havens? Walmart often makes a low, or no, tax deal with localities.
In my home town, a baseball camp opened up. They charge each teen player almost a thousand per week of competition baseball. Each team has about 20 players plus coaching staff. There are a dozen playing fields and the season is about 14 weeks long. This company got a 10 year free pass on taxes for bringing in a hundred local minimum wage jobs, mostly for youth. The cost to our community is worse roads because of a Lot more traffic, strain on our Emergency Response units, (the ambulance hails away injured players, on average of 2 a day). The noise and other pollutions are almost 10 times what they were 10 years ago.
Also, a mini-mall opened shortly after, including Pizza Hut, Family dollar, McDonalds, P&C, etc., and they all received the 10 year no tax deal.
So, "we the people" seem to be the only ones still paying any taxes. Plus, we get to put up with more pollution and traffic and a lot of obnoxious tourists who come with the attitude that 'i paid over a grand for this, so i can do whatever i want and wherever i want in this town.' Well, sorry, but the locals got screwed too, so take your attitude to the owners of the ball park and mall. Oh yeah, that's right, it's some N. Carolina companies that own them. So, even the profits don't stay in the area.
 

. (0)
Sunday April 3, 2011, 2:10 pm
Are there any Fortune 500 companies that haven't been a part of some criminal activity. Just google Verizon, At&T, KPMG, GE, etc, etc and all of them have been caught engaging in criminal activity, bribes, etc. This is what our country was built on. Remember the Reockefeller Ring back in the 1800s, the corporations now are a bit more creative and helped by our government to commit the crimes.
 

Mary Donnelly (47)
Sunday April 3, 2011, 2:39 pm
Thanks Judy.

A universal flat rate income tax with no exemptions, fairly and effectively enforced, might solve the problem. Why would you go to Switzerland for tax benefits if its tax rate is the same everywhere else.
 

Ria T. (6)
Sunday April 3, 2011, 3:16 pm
Robert Orlando
and Mary Donnelly,
You are entirely right.
And ditto the "thanks, Judy".
Ain't it a shame? When I worked for GE the supervisors gathered us together to point out that if we struck to get better working conditions and a raise, the town would collapse and GE would be out of business. I burned my fingers 8 hours a day. Later when I went to be fingerprinted for licences the cops wanted to know why I burned off my fingerprints? (At GE I often asked myself that question.) (And answered myself, to keep up with the production line that made wearing even cotton gloves impossible. Couldn't go as fast as required.) (I guess if I didn't work fast enough, GE would go out of business and the town would collapse.) ;-]
 

Edward M. (8)
Monday April 4, 2011, 2:50 am
They cannot operate without the tacit approval of our Governments, so we had better consider changing our Governments.
 

Judy C. (101)
Monday April 4, 2011, 5:21 am
Thanks to all of you for some good comments! It seems like the corporations and banks realize that they can get by with anything, and the people will keep putting up with it
 
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