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Old 03-23-2009, 12:28 AM
 
4,459 posts, read 4,195,268 times
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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.


AIG is chump change -- let's find corporate America's hidden billions | Salon
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Old 03-23-2009, 01:18 AM
 
Location: Sacramento
14,044 posts, read 27,126,435 times
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Quote:
Originally Posted by Dukester View Post
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.


AIG is chump change -- let's find corporate America's hidden billions | Salon
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:

washingtonpost.com
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Old 03-23-2009, 01:25 AM
 
4,459 posts, read 4,195,268 times
Reputation: 648
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Originally Posted by NewToCA View Post
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:

washingtonpost.com
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.
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Old 03-23-2009, 01:29 AM
 
68 posts, read 111,349 times
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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.
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Old 03-23-2009, 02:10 AM
 
4,459 posts, read 4,195,268 times
Reputation: 648
Quote:
Originally Posted by gettys View Post
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.
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