Tax Havens: The Hidden Hand in the Financial Crisis »
Posted By sodakfritz 10 months, 2 weeks ago in Political NewsThe financial crisis seems as if it emerged from nowhere and struck as hard and fast as lightning. How did so many financial institutions crumble with so little warning? There are many reasons, but one that has not been given much attention is how tax havens helped enable the mess â?? and how several of the big companies that have received billions of bailout dollars were also the most active in the shady world of offshore finance.
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flyonthewallzz10 months, 2 weeks ago
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Hi Simonsez:
Reply
I just did a bit of reading about "Fair Tax".
I admit to being a hard to convince liberal, but I do try to reach my own conclusions.
I am a bit of a nut about downloading spreadsheets, although I admit that I do not always understand them.
I think getting rid of the payrole tax would be great.
There are a lot of hidden costs in hiring an employee.
I can not help but wonder though if the concept as it stands now is tailored to eliminate taxes on corporations and capitol gains.
The following spreadsheet contains information that I am not sure if I am reading it correctly.
http://www.gpoaccess.gov/eop/2008/B91.xls
An example of the data looks like this: FY2006
Corporate profits = $1.76 T
Financial domestic = $505 B or 29%
Nonfinancial domestic = $1 T or 57%
Rest of the world = $257 B or 15%
Nonfinacial break down:
Manufacturing = 17%
Transportation = 2%
Utilities = 2%
Wholesale trade = 5%
Retail trade = 7%
information = 5%
Other = 19%
In order for me to come to an opinion I would have to find a gross receipts number for Retail Trade. ( I might have it somewhere) .
I may be off by a couple of $Trillion here: but I think the ratio of Corporate receipts to Adjusted Gross income is some thing like $25T to $7T.
I keep reading that we have the highest corporate tax rate of the OECD countries, but we also do not have a VAT. And if I am reading this data correctly our country delivers 85% of corporate profit.
I am just trying to get a handle on things and I can not help my left side viewpoint.
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4thchance10 months, 2 weeks ago
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I think there's really only one explanation to how all this came down so fast, so wide spread, so hard...it was a CONSPIRACY, closely planed and manipulated. Either that or all these scammers have ESP and were all thinking to do the same thing at the same time. I don't think so! It was planed and executed...That's what I think. How ever, I can't quite figure out exactly WHY this was done!? The answer could be very very DEEP.
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