Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
March 23, 2009 | The popular urge to claw back the bogus bonuses paid by American International Group is irresistible and fully justified, but should the Treasury someday retrieve every single bonus dollar, that total of $165 million will make no difference to anyone except a few disgruntled traders. From the jaded perspective of the financiers, the uproar over the AIG bonuses may provide a welcome distraction from far more important (and lucrative) abuses in the world's offshore tax havens.
So rather than continue arguing over chump change, it is long past time for the United States, with its international friends and allies, to demand accountability from the long list of tiny countries and principalities, from Andorra and the Cayman Islands to Singapore and Switzerland, where corporations, wealthy clients and unrepentant evildoers hide their assets.
March 23, 2009 | The popular urge to claw back the bogus bonuses paid by American International Group is irresistible and fully justified, but should the Treasury someday retrieve every single bonus dollar, that total of $165 million will make no difference to anyone except a few disgruntled traders. From the jaded perspective of the financiers, the uproar over the AIG bonuses may provide a welcome distraction from far more important (and lucrative) abuses in the world's offshore tax havens.
So rather than continue arguing over chump change, it is long past time for the United States, with its international friends and allies, to demand accountability from the long list of tiny countries and principalities, from Andorra and the Cayman Islands to Singapore and Switzerland, where corporations, wealthy clients and unrepentant evildoers hide their assets.
You're likely chasing your tail here, Obama probably isn't going to back up the proposal from Congress to tax the bonuses, he is just letting you know he feels your frustration, without actually doing anything about it:
You're likely chasing your tail here, Obama probably isn't going to back up the proposal from Congress to tax the bonuses, he is just letting you know he feels your frustration, without actually doing anything about it:
Actually the OP has nothing to do with Taxing the Bonuses (though I would be all for it) the article has everything to do with going after corporations who have their financial assets kept off shore to evade paying taxes.
How about removing or greatly reducing the corporate tax to get rid of the incentive for companies to base themselves overseas?
A corporation has the ethical and fiduciary obligation to reduce its tax liability as much as possible through any legal channel. As long as the U.S. tax code remains hostile to business relative to that of other countries, companies will continue to base themselves outside the U.S., and the U.S. will continue to miss out on potential tax revenues and economic benefits.
How about removing or greatly reducing the corporate tax to get rid of the incentive for companies to base themselves overseas?
A corporation has the ethical and fiduciary obligation to reduce its tax liability as much as possible through any legal channel. As long as the U.S. tax code remains hostile to business relative to that of other countries, companies will continue to base themselves outside the U.S., and the U.S. will continue to miss out on potential tax revenues and economic benefits.
Kind of sick of these corporations getting a free ride and I do relish the fact that the Obama Administration will be going after them.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.