If we assume that the taxes in question are INCOME taxes, then it follows as the night, the day that if they OVERSTATED the company's income they over paid income tax, what ever it eventually came out to, and whether it was in the form of a loss or a net operating loss carryback, which would have resulted in a refund.
It is oxymoronic to state it the way that article did. What you have is a knee jerk buzzword merchant who is more interest in stirring emotion than in conveying FACT.
This is not the way to solve the problem, nes paw?
Lest you leap to the wrong conclusion, let me hasten to add, I am not defending Enron, they themselves, were a dummy trading company set up by who?, Texaco?, some big consortium of banks?, I really don't know, but The American public does not need this, it will appeal to the more venal rather than logical side, and besides that:
It torques my jaws and furthermore....
WE ARE NOT AMUSED.
Thinking like that get's you exactly what we have, a bunch of politician claiming they will stop it.
Arthur Levitt said it best, to paraphase, there is no law that can be passed that can't be circumvented.
What has to be done is to stop bribes from affecting legislation, and not to TIE THE HANDS of the Judicial System to stop this sort of thing on a case by case basis while and before it happens on mass scale as a lesson to others, apriori. Those who believe that a Government agency will solve all these problems will find out how wrong they are. |
