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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (5753)	3/1/2002 2:09:28 PM
From: hugh thorne	Read Replies (1) of 33421

Hey John, i know you only posted the following article. "Thanks to David Cay Johnston of The New York Times, we learn that for a few thousand dollars in a paper transaction, a U.S. drilling company like Cooper Industries of Houston (which bills itself as "a responsible corporate citizen," because, "we believe giving back is good business") will reduce its tax bill by 40 percent or $54 million" It is always amazing how we question the press when they publish ideas we don't like, yet embrace the same group when they publish articles like the above. To suggest that a couple thousand dollars of paper work is all that is required to move significant profits offshore is on the verge of reckless reporting. The US were much quicker on the ball than our tax system at making the "off shore hoops" quite a hurdle. Now, that is not to say it cannot be done, that being rather self evident, but it requires significanlty more presence in the other jurisdiction then is implied by our NYT writer. regards,

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