WHICH TITLE SUITS THIS LUDLUM THRILER? THE CAYMAN INJUNCTION. THE CAYMAN RETRIEVAL. THE CAYMAN PROCESS. THE CAYMAN OBSESSION, THE CAYMAN JOURNEY, The Cayman Inheritance, The Cayman Manuscript, The Cayman Identity, The Cayman Supremacy, or The Cayman Ultimatum—
Too bad Robert Ludlum died six months before 911, the greatest conspiracy freak missed the greatest conspiracy. And he missed the MELTDOWN. I say too bad as I can imagine this wonderful Robert Ludlum novel about a group of Justice guys and Federal S.E.C. investigators who go to the Cayman Islands in their summer weight white linen suits with briefcases and portable hard drives galore to retrieve some ENRON type corporation’s money, maybe a Wall Street LEHMAN Brothers secret fund or some big transnational CORP that had a rabbit warren of subsidiaries with trillions buried away from the light, oddly in the sunniest place in the world…The money fuzz stroll out onto a beach where the owner of the huge office building (seen here, as I imagine him as a Brit as this once was a British territory,) a man who somehow has 18,000 corporations listed as residing there --and he's drinking pina coladas with Bernie Madoff’s mistress, the girl with the numbered accounts memorized, and….well, you write the novel. I’m too busy wondering where all the world’s money went. I believe it is the Caymans and so does this able researcher: http://www.politifact.com/truth-o-meter/article/2008/jan/09/obama-targets-cayman-islands-tax-scam/
Flip there and come back. The Cayman Islands are well known to those seeking sun, sand and sea--and for their hospitality to US corporations seeking to
escape taxes, launder money and use other discreet financial services. The islands' tax dodgers help multinational corporations move jobs offshore; they also give aid and comfort to terrorists, drug dealers and divorcing spouses trying to hide money.
Honest taxpayers have to make up for the revenues lost through this offshore cheating in three ways: we pay more in taxes, we get fewer government services and we incur rising government debt. Interest on that debt, which doubled under the Bush administration, now equals all the individual income taxes paid from New Year's to around June 10. And that cost means less government investment in research, education and the infrastructure on which commerce depends. Untaxed money hiding in the Caymans and other tax havens means the rest of us pay a higher price for less civilization. In short, the Caymans, and other tax havens, are parasites that weaken the United States and other developed nations.
President Obama proposed on May 4 to crack down on offshore tax cheating; that proposal does not go nearly far enough. Instead of settling for a dime on the dollar, as Obama's plan would do, let's get serious about offshore tax cheating, both legalized and criminal. Let's do what we did to halt the imagined threats of communists in Grenada, depose a drug-dealing president in Panama and find those imaginary weapons of mass destruction in Iraq. Let's invade the Caymans!
Here’s a MAP. GO FIND IT!
The islands, which belong to Britain, have no military and just 300 or so police. An invasion force composed of tax lawyers, forensic auditors and a handful of computer technicians could execute a hostile takeover without firing a shot.
The Caymans are not really a country; they are a law firm posing as one. More than 12,000 "companies" operate out of a single building known as Ugland House, home to the law firm Maples & Calder. As Obama put it, "Either this is the largest building in the world or the largest tax scam." Under Caymans law these companies are barred from doing any business in the Caymans except hiding assets and profits. That means shares of stock, bonds and cash may technically be owned in the Caymans--which claims to be the world's fifth-largest center of bank deposits--but are really housed in New York, Greenwich, Houston, San Francisco. There is $1.9 trillion in bank deposits in the Caymans--money actually invested in the United States and other countries but invisible to the IRS. (Read "THE FIRM" by John Grisham This whole place is a main character.)
The Clinton administration enabled this through a rule known as "check the box," which helped companies funnel profits into untaxed havens. US tax rules, liberally expanded by the Bush administration, enabled frauds like Enron to create hundreds of paper companies in the Caymans and other tax havens like Liechtenstein, Turks and Caicos, and the Isle of Man. Enron, as I revealed in a New York Times story in January 2002, paid no taxes because it had created hundreds of paper companies in these places. A subsequent investigation by the Congressional Joint Committee on Taxation uncovered internal documents describing Enron's tax department as a "profit center." Dick Cheney's Halliburton subsidiary, KBR--the old Kellogg Brown & Root construction company--has at least 21,000 employees paid via Caymans subsidiaries to escape taxes. KBR hired executives through these paper companies, enabling them to evade Social Security and Medicare taxes on their salaries and bonuses, much of which the taxpayers provided through Pentagon contracts.
Anita Sand’s reworking of article By David Cay Johnston, The Nation who said” Obama and Congress must get tougher on offshore tax cheats-- prosecute them as criminals and require full payment.
BACK TO DIARY OF A MELTDOWN, the WEBPAGE
BACK TO THE FIX WEBPAGE, A BITE-THE-BULLET FIX AT THAT!
BACK TO THE PIECE. You sure you read this piece?
Nessun commento:
Posta un commento