Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (278818)	7/22/2002 1:32:29 PM
From: jlallen	Read Replies (1) \| Respond to of 769667

Yep. Classically to the point and very salient...., Texas Boob

To: Arthur Radley who wrote (278818)	7/22/2002 1:55:05 PM
From: SeachRE	Respond to of 769667

When Srub talks, people panic. Heheheh Shrub's expertise is in Tequilla, Aguardiente, Vodka and the like.

To: Arthur Radley who wrote (278818)	7/22/2002 1:57:30 PM
From: SeachRE	Respond to of 769667

EXCELLENT sum-up on Bush's CV. Right on target!

To: Arthur Radley who wrote (278818)	7/22/2002 2:06:04 PM
From: DuckTapeSunroof	Read Replies (1) \| Respond to of 769667

Re: "fiscal policy is sound" >>> With trade and budget deficits out to the horizon? What's he smoking?

To: Arthur Radley who wrote (278818)	7/22/2002 2:23:40 PM
From: stockman_scott	Read Replies (1) \| Respond to of 769667

House GOP Kills Effort to Plug Offshore Loopholes thedailyenron.com The discovery that Enron had maintained nearly 1000 offshore "entities" in the Caribbean to hide assets and avoid taxes shocked many Americans. But, the real shocker is how common the practice has become. Hundreds of large American corporations have either reincorporated offshore or maintain offshore subsidiaries solely for the purpose of avoiding US corporate taxes. The IRS estimates these corporate offshore tax shelters cost the US Treasury over $70 billion a year in lost revenues - twice the annual cost of the war on terrorism. Democrats in Congress have tried to pass legislation to close these loopholes only to see their measures blocked by House Republicans. Republicans claim the problem is not with the offshore tax havens, but with US corporate taxes, which they say, are too high. Again last week, House Republicans successfully killed a measure that would have punished companies that moved offshore to avoid US taxes by denying those companies federal contracts. The measure was part of an appropriations bill, but Republicans killed the measure in its crib. By citing procedural rules, they were able to stop the measure before it could come to a vote. Republicans did not want to have to vote down a measure they feared would cast them as pro-corporation at a time when voters were in a distinctly anti-business mood. The insistence on strict compliance with House rules was mocked by James P. McGovern (D - Mass), who said that rules were "treated like the skunk at the garden party" when they were inconvenient for Republican leaders but strictly adhered to when "siding with the greediest and most self-serving." House Majority Leader, Dick Armey and House Majority Whip, Tom DeLay, both Republicans from Texas, have been fierce opponents of closing any offshore corporate tax loopholes. Both men have written letters and testified that low-tax and no-tax offshore havens represent legitimate "tax competition" needed to pressure US lawmakers to further lower corporate taxes. One of the most galling cases of corporate tax flight is Accenture - the former consulting arm of Arthur Andersen, which is incorporated in Bermuda. Though sheltered from US corporate taxes by its Bermuda incorporation, Accenture holds a multi-million dollar contract to update the IRS's website. "Fine," responded Democratic strategist James Carville. "Let these companies move to Bermuda. Then the next time one of their foreign subsidiaries gets in trouble overseas and wants help tell them to call the Bermuda navy to come to their rescue."