Comments on: Corporate Profits Take an Offshore Vacation http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/ Reports & Analysis by Investigative Journalist Lucy Komisar Sun, 07 Mar 2010 16:35:50 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Richard Gordon CP http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/comment-page-1/#comment-8674 Richard Gordon CP Sat, 22 Dec 2007 12:58:55 +0000 http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/#comment-8674 Dear Ms Komisar: Greetings! I thoroughly enjoy your website and inclusive articles. Two trillion dollars worth of central bank liquidity ( and potentially just as smidgeon of the yet to be determined total ) has flooded banks worldwide just to insure that the cash reserves ( 8% of total loans ) are met ( the 1987 Black Tuesday Wall Street crash and losses were valued @ $500,000,000,000.00 ); and thus the offshore accounts of the numerous CEOs and other investors by this action must certainly be intact throughout the numerous offshore banking centers. The permanent US government is once again in an election cycle. The participants ( less Mr. Kucinich and Mr. Paul ) are well aware that the majority of all US currency is now offshore ( better than 55% ). So who really controls the election process?? Congress is once more a non-participant in uncovering the corruption that so evidently is exposed in the many Bushgates that begin and abruptly end without resolution ( notice that Mr. Paulson's Super SIV once established as a 100 Billion dollar fund is now a mere 20 billion!!!!. Chartered Banks are more interested in accumulating cash reserves than pushing those off books SIVs from the darkness to the light ( on books ) as the year comes to a close ) regardless of the many writedowns and sell offs by investment banks. Your attendance at the CFR lectures and public gatherings is most commmendable. The numbers of dollars involved in your exposees are so vast that it boggles the mind that today there are 800-900 US billionaires and in Mainland China there are now 100-200 billionaires. And the derivative numbers exceed 1200-1500 trillion WOW!!! What a roving crapgame that must be!!!( During the 1930s the # of millionaires was 46!!! ) Doesn't it ever amaze you that so few Rothschilds and Rockefellers make the Forbes wealthiest annual list?? Again you are to be commended for your strength of purpose and conviction. I wonder what it will take for the majority of americans to realize the global fraud that has been perpetrated in their name under color of law?? I am beginning to see the development of an alternative financial architecture to replace the now almost certain bankrupt Anglo-American/Dutch version that we are all so used to participating in. The emergance of the Bank of the South; as well as the alliances of Russia, Iran ( and possibly that of China and Japan )and the numerous Sovereign Wealth Funds who most certainly are hedging their continued investment in dollars by buying up huge chunks of US and other corporate stock; and possibly responsible for the rise in oil, commodity and gold prices. Too few americans know the history of the corporation as a "person" and the rights they ( the corporation ) have usurped over more than 120 years. Welcome to the real world. as always, Richard D. Gordon CP Dear Ms Komisar: Greetings! I thoroughly enjoy your website and inclusive articles. Two trillion dollars worth of central bank liquidity ( and potentially just as smidgeon of the yet to be determined total ) has flooded banks worldwide just to insure that the cash reserves ( 8% of total loans ) are met ( the 1987 Black Tuesday Wall Street crash and losses were valued @ $500,000,000,000.00 ); and thus the offshore accounts of the numerous CEOs and other investors by this action must certainly be intact throughout the numerous offshore banking centers. The permanent US government is once again in an election cycle. The participants ( less Mr. Kucinich and Mr. Paul ) are well aware that the majority of all US currency is now offshore ( better than 55% ). So who really controls the election process?? Congress is once more a non-participant in uncovering the corruption that so evidently is exposed in the many Bushgates that begin and abruptly end without resolution ( notice that Mr. Paulson’s Super SIV once established as a 100 Billion dollar fund is now a mere 20 billion!!!!. Chartered Banks are more interested in accumulating cash reserves than pushing those off books SIVs from the darkness to the light ( on books ) as the year comes to a close ) regardless of the many writedowns and sell offs by investment banks. Your attendance at the CFR lectures and public gatherings is most commmendable. The numbers of dollars involved in your exposees are so vast that it boggles the mind that today there are 800-900 US billionaires and in Mainland China there are now 100-200 billionaires. And the derivative numbers exceed 1200-1500 trillion WOW!!! What a roving crapgame that must be!!!( During the 1930s the # of millionaires was 46!!! ) Doesn’t it ever amaze you that so few Rothschilds and Rockefellers make the Forbes wealthiest annual list?? Again you are to be commended for your strength of purpose and conviction. I wonder what it will take for the majority of americans to realize the global fraud that has been perpetrated in their name under color of law?? I am beginning to see the development of an alternative financial architecture to replace the now almost certain bankrupt Anglo-American/Dutch version that we are all so used to participating in. The emergance of the Bank of the South; as well as the alliances of Russia, Iran ( and possibly that of China and Japan )and the numerous Sovereign Wealth Funds who most certainly are hedging their continued investment in dollars by buying up huge chunks of US and other corporate stock; and possibly responsible for the rise in oil, commodity and gold prices. Too few americans know the history of the corporation as a "person" and the rights they ( the corporation ) have usurped over more than 120 years. Welcome to the real world. as always, Richard D. Gordon CP

]]> By: Tony Johnson http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/comment-page-1/#comment-8651 Tony Johnson Sun, 16 Dec 2007 05:18:12 +0000 http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/#comment-8651 Re: Offshore tax scams--a travesty and blow to American taxpayers!!!! The Congress and other Federal law enforcement officials will need to increase their manpower due to many outrageous tax scams played by big corporations-- leaving the average and some middle class fox the entire tax burden of the nation! While the big corporations would insist in their federal pleadings that they are also "persons" under the laws--as any American Citizen individual--with "equal protections under laws", they are showing serious signs of moral failures when they "take a hike" (to offshore-of course!) from the federal tax responsibilities and leave behind the average American taxpayer to shoulder their tax burdens! It is unprecedented (and shocking to conscience!) in American business history what is happening inside the minds of the CEOs who manage the big (tax offending) corporations mentioned by ex-Treasury Secretary, Mr. Sullivan! To be sure, there is absolutely NO EXCUSE under American Legislative (tax) history for any "person" of the "corporate" type to stealthily set (shop)(office and) IBC, Trust, Bank Accounts, in the offshore (low--or tax free) jurisdictions! I hope that that they will pay attention from now on...seeing that a Texas tycoon 83 years of age has been successfully sent to the Federal prison, much the same as the "Hotels Queen" of New York Helen Helmsley (and her husband) has been some years ago! Stealthy corporations caught setting shop outside the United States ought to be punished more seriously, as provided by Federal criminal laws, including their CEO and other related co-conspirators! It is a devastating shame and disgrace what these (mentioned) corporations are doing to our gracious country and its nice (tax-paying) people! Congress should therefore increase the manpower and resources to the respective law enforcement departments to detect and prosecute many more corporations and co-conspirators (there are a lot, are there not?) which set shop in (low-or tax free) jurisdictions...leaving the national tax burden upon the average hard working American! This is unfair, unlawful, inequitable and a travesty, under Constitution and laws! Re: Offshore tax scams–a travesty and blow to American taxpayers!!!!

The Congress and other Federal law enforcement officials will need to increase their manpower due to many outrageous tax scams played by big corporations– leaving the average and some middle class fox the entire tax burden of the nation!

While the big corporations would insist in their federal pleadings that they are also “persons” under the laws–as any American Citizen individual–with “equal protections under laws”, they are showing serious signs of moral failures when they “take a hike” (to offshore-of course!) from the federal tax responsibilities and leave behind the average American taxpayer to shoulder their tax burdens!

It is unprecedented (and shocking to conscience!) in American business history what is happening inside the minds of the CEOs who manage the big (tax offending) corporations mentioned by ex-Treasury Secretary, Mr. Sullivan! To be sure, there is absolutely NO EXCUSE under American Legislative (tax) history for any “person” of the “corporate” type to stealthily set (shop)(office and) IBC, Trust, Bank Accounts, in the offshore (low–or tax free) jurisdictions!

I hope that that they will pay attention from now on…seeing that a Texas tycoon 83 years of age has been successfully sent to the Federal prison, much the same as the “Hotels Queen” of New York Helen Helmsley (and her husband) has been some years ago!

Stealthy corporations caught setting shop outside the United States ought to be punished more seriously, as provided by Federal criminal laws, including their CEO and other related co-conspirators! It is a devastating shame and disgrace what these (mentioned) corporations are doing to our gracious country and its nice (tax-paying) people!

Congress should therefore increase the manpower and resources to the respective law enforcement departments to detect and prosecute many more corporations and co-conspirators (there are a lot, are there not?) which set shop in (low-or tax free) jurisdictions…leaving the national tax burden upon the average hard working American! This is unfair, unlawful, inequitable and a travesty, under Constitution and laws!

]]> By: Richard Gordon CP http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/comment-page-1/#comment-8444 Richard Gordon CP Fri, 05 Oct 2007 10:24:47 +0000 http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/#comment-8444 Dear Ms Komisar: This morning I awoke to the CNBC cable show Squawk Box and they are aghast that a US prosecutor's probe has been initiated into the recent Bear Stearn's Hedge Fund collapse. Clearly they are unaware that the Funds tried to fall under Cayman Island Law but formally the US Bankruptcy judge denied this claim; and the federal courts now have jurisdiction into ALL investigations of offshore Hedge Funds and other ( ? ) offshore tax havens that might become under the jurisdiction of US courts. This disclosure might have an impact on investigations that you have interest in. Respectfully, Richard Gordon CP Dear Ms Komisar: This morning I awoke to the CNBC cable show Squawk Box and they are aghast that a US prosecutor’s probe has been initiated into the recent Bear Stearn’s Hedge Fund collapse. Clearly they are unaware that the Funds tried to fall under Cayman Island Law but formally the US Bankruptcy judge denied this claim; and the federal courts now have jurisdiction into ALL investigations of offshore Hedge Funds and other ( ? ) offshore tax havens that might become under the jurisdiction of US courts. This disclosure might have an impact on investigations that you have interest in. Respectfully, Richard Gordon CP

]]> By: Geoff http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/comment-page-1/#comment-8438 Geoff Sun, 30 Sep 2007 02:53:52 +0000 http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/#comment-8438 Nick, it's fairly widely known that they established there for tax reasons. Even the WSJ did an article about it a couple of years ago http://www.law.wayne.edu/mcintyre/text/in_the_news/WSJ.com%20-%20Irish%20Subsidiary%20Lets%20Microsoft%20Slash%20Taxes%20in%20U.S.pdf In this era of increasing globalisation, lowering business tax is one of the main ways that countries attract foreign investment. Nick, it’s fairly widely known that they established there for tax reasons. Even the WSJ did an article about it a couple of years ago http://www.law.wayne.edu/mcintyre/text/in_the_news/WSJ.com%20-%20Irish%20Subsidiary%20Lets%20Microsoft%20Slash%20Taxes%20in%20U.S.pdf

In this era of increasing globalisation, lowering business tax is one of the main ways that countries attract foreign investment.

]]> By: Nick http://thekomisarscoop.com/2007/02/corporate-profits-take-an-offshore-vacation/comment-page-1/#comment-8393 Nick Sun, 02 Sep 2007 21:33:36 +0000 http://thekomisarscoop.com/2007/02/23/corporate-profits-take-an-offshore-vacation/#comment-8393 Google and Microsoft "may have some minimal operations in Ireland"? What on earth are you talking about? Dublin hosts Microsoft's second largest base outside Seattle, which deals with all sales from the EMEA region and virtually all localisation for the company. Shortly it will be hosting its entire on-line services there, from one of the largest data centres in Europe. The story is much the same for Google, which has massive server farms, and a very large number of staff based in the country. Your comment is grossly misleading. <em>Editor: That makes the point. Why Ireland? </em> <em>Microsoft has a base in Ireland so that it can adjust its books to ascribe a large percentage of profits to this tax haven (12% vs US 35% corporate tax). Second, Microsoft has transferred ownership of intellectual property, developed in Seattle, to Ireland, where it cheats America of taxes on its prime source of income: royalties. Same for Google. Do you believe that if Ireland had a 35% tax that those companies would be shifting their profits out of the US?</em> Google and Microsoft “may have some minimal operations in Ireland”? What on earth are you talking about? Dublin hosts Microsoft’s second largest base outside Seattle, which deals with all sales from the EMEA region and virtually all localisation for the company. Shortly it will be hosting its entire on-line services there, from one of the largest data centres in Europe. The story is much the same for Google, which has massive server farms, and a very large number of staff based in the country.

Your comment is grossly misleading.

Editor: That makes the point. Why Ireland?
Microsoft has a base in Ireland so that it can adjust its books to ascribe a large percentage of profits to this tax haven (12% vs US 35% corporate tax).
Second, Microsoft has transferred ownership of intellectual property, developed in Seattle, to Ireland, where it cheats America of taxes on its prime source of income: royalties.
Same for Google. Do you believe that if Ireland had a 35% tax that those companies would be shifting their profits out of the US?

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