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GAO Reports Bailout and Tech Firms Love Tax Havens
theodp writes "Most of America's largest publicly traded corporations and Federal contractors — including those receiving billions of dollars from US taxpayers to finance their recovery — have set up offshore operations that could help them avoid paying US taxes, according to a GAO study released yesterday. Of the 100 largest public companies, 83 do business in tax-haven hot-spots like the Cayman Islands, Bermuda, and the British Virgin Islands. The report found that Citigroup, a recipient of $45B in bailout funds so far, has set up 427 subsidiaries in tax-haven countries, including 91 in Luxembourg, 90 in the Cayman Islands, and 35 in the British Virgin Islands. Household names on the lists from the tech sector include Apple (1 tax haven subsidiary), Cisco (38), Dell (29), HP (14), Intel (6), IBM (10), Microsoft (8), Motorola (4), and Oracle (77)."
dude, when you do... the coincidence is gonna blow your mind!
-- 'The' Lord and Master Bitman On High, Master Of All
Well if you had both read the fine article before it was overloaded and had to be changed, you would have find that it had a perfect system for getting rich whilst meeting beautiful girls (or boys or non-determined goth types, depending on your taste) which unfortunately I can follow but can't explain. So don't make this mistake next time.
=~ s,(.*),<sarcasm>$1</sarcasm>,g if any_point_you_wish();
Wrong. The solution is mass genocide, so that the United States is just as sparsely populated as Luxembourg and our taxes go down to similar levels.
Vote Genocide in 2010!
Hail Eris, full of mischief...
E pluribus sanguinem