Comments on: Crisis Pits Vatican Against Offshore Bankers http://thekomisarscoop.com/2008/12/crisis-pits-vatican-against-offshore-bankers/ 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: David Sogge http://thekomisarscoop.com/2008/12/crisis-pits-vatican-against-offshore-bankers/comment-page-1/#comment-10073 David Sogge Thu, 26 Mar 2009 11:19:46 +0000 http://thekomisarscoop.com/2008/12/22/crisis-pits-vatican-against-offshore-bankers/#comment-10073 This is encouraging. But might the Vatican also do a bit of casting of the beam out of its own eye while it pontificates about the motes in the eyes of others? In a 2006 report to the Dutch Ministry of Finance about worldwide money-laundering, economists from the Utrecht School of Economics and the Australian National University ranked the Vatican City as among the world's more active and attractive places for laundering dirty money. url: http://www.cjpf.org/newsletter/spring_06/amountsandeffectsofmoneylaundering.pdf This is encouraging. But might the Vatican also do a bit of casting of the beam out of its own eye while it pontificates about the motes in the eyes of others? In a 2006 report to the Dutch Ministry of Finance about worldwide money-laundering, economists from the Utrecht School of Economics and the Australian National University ranked the Vatican City as among the world’s more active and attractive places for laundering dirty money.
url: http://www.cjpf.org/newsletter/spring_06/amountsandeffectsofmoneylaundering.pdf

]]> By: Stanley Richards http://thekomisarscoop.com/2008/12/crisis-pits-vatican-against-offshore-bankers/comment-page-1/#comment-9065 Stanley Richards Tue, 23 Dec 2008 14:55:13 +0000 http://thekomisarscoop.com/2008/12/22/crisis-pits-vatican-against-offshore-bankers/#comment-9065 This article is right on target. The solution is very simple. If you want to be an American corporation protected by American laws, all corporate income is taxable at a 20% rate. If at least 75% per cent of the product or services are produced in the U.S., all offshore income received by an American company is taxable at a 50% rate with no credit for foreign taxes paid to another government. All offshore entities must be disclosed and subject to regulation by the U.S. government. Failure to do so is subject to criminal penalties. To stop manipulation of commodity markets, all financial speculators, which includes individuals, all hedge funds et al, would be subject to 70% margin requirements. Industry commodity players would only be required to post a maximum of 25%. Stan Richards This article is right on target. The solution is very simple. If you want to be an American corporation protected by American laws, all corporate income is taxable at a 20% rate. If at least 75% per cent of the product or services are produced in the U.S., all offshore income received by an American company is taxable at a 50% rate with no credit for foreign taxes paid to another government.

All offshore entities must be disclosed and subject to regulation by the U.S. government. Failure to do so is subject to criminal penalties. To stop manipulation of commodity markets, all financial speculators, which includes individuals, all hedge funds et al, would be subject to 70% margin requirements. Industry commodity players would only be required to post a maximum of 25%.

Stan Richards

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