Offshore tax havens and how they only exist to save us money

I don’t have enough time right now to prepare a whole big post on the Obama administration’s newly announced plans to close loopholes on offshore tax havens, but I did want to pass along the following… Yesterday evening, as I was walking through the lobby of an office building in Ann Arbor, I passed a television set tuned in to CNN. Lou Dobbs was on, and, as he was visibly agitated, I paused for a moment to listen to what he had to say. After watching him sputter for a few seconds, they cut to Congress, where an elected Republican official – I can’t remember who – had the following to say. He said that if we shut down foreign tax havens, as Obama is suggesting, companies would have no choice but to raise prices on all of those things that we need in order to survive… That’s right – apparently these benevolent corporations, that only exist to serve us, are in the habit of passing along any profits that they retain by making use of such loopholes, to us, the American people… And, no doubt, some poor saps out there will believe it.

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7 Comments

  1. Ol' E Cross
    Posted May 5, 2009 at 10:46 pm | Permalink

    The only reason I’m in favor of high taxes is so that companies don’t have to pay them and I can spend what little’s left on their products so that those products can be sold at lower prices so I can pay higher taxes.

  2. Sonic Reducer
    Posted May 5, 2009 at 10:50 pm | Permalink

    …can’t they just become a non American business and avoid American income taxes completely?

  3. Posted May 5, 2009 at 10:57 pm | Permalink

    Companies want to do business in America. They like the infrastructure. They like the ready access to good employees. They like the airports and the highways. They just don’t want to pay for any of it.

  4. Robert
    Posted May 6, 2009 at 11:11 am | Permalink

    In case there was any doubt left in anyone’s mind as to who the Republican Party works for.

  5. Paw
    Posted May 6, 2009 at 2:42 pm | Permalink

    Individuals who hide their earnings from the people of America should be treated as traitors.

  6. Robert
    Posted May 6, 2009 at 2:48 pm | Permalink

    …or at least as illegal aliens, Paw.

  7. diziizle
    Posted April 15, 2011 at 12:10 am | Permalink

    There should be heads on stakes.

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