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

To: E. T. who wrote (477805)	10/18/2003 11:15:41 AM
From: E. T.	Respond to of 769670

Republican tax law at work.... Company Is Foreign at Tax Time, but Seeks Americans-Only Work By DAVID CAY JOHNSTON Published: October 18, 2003 big oil-well drilling company that has used one law to escape American taxes by taking addresses in Bermuda and Barbados is now trying to use another law to qualify for business open only to American companies. Competitors are crying foul, saying they cannot survive if the Bermuda-Barbados company, Nabors Industries, is allowed to vie for contracts while paying little or nothing in taxes. The competitors, most of them family-owned businesses, say that unless Congress acts to level the playing field they will lose so much business to Nabors that they will go broke within a decade or be forced themselves to try to become Bermuda companies so they can also escape taxes. The issue is part of a much larger debate about how a hodgepodge of tax laws enacted starting in 1986 (surely not Reagan's doing! Maybe it's part of that trickle-down thing?) give big advantages to multinational concerns over domestic companies. The debate comes as official reports show that corporate tax revenues are plummeting because of a weaker economy and tax shelters, with the Congressional Budget Office estimating it will raise $136 billion this year, down from $207 billion just three years ago. Nabors Industries is the nation's largest operator of oil-well drilling rigs and has its working headquarters in Houston. But since late 2001 the company has used a Bermuda maildrop as its tax headquarters and a Barbados office as its legal headquarters. There is no corporate income tax in Bermuda and under a treaty with Barbados, profits are taxed at 1 percent. The United States corporate tax rate is 35 percent. The savings to Nabors was $10 million last year. Now Nabors wants to qualify fully for business under the Jones Act, which since 1916 has required that ships engaged in purely domestic trade be built in American shipyards, owned by American companies and operated by American crews. Nabors owns 33 ships serving oil drilling platforms, a tenth of the fleet of about 350 ships that ferry supplies like drill pipe in the Gulf of Mexico. Nabors argues that its American subsidiary qualifies it for business under the Jones Act, and that under a 1996 law that allows foreign financing of such ships, its Bermuda parent is simply providing the money for these ships. Competitors call the arrangement improper, and have some support in Congress. Minor Cheramie Jr. of Golden Meadow, La., whose family operates 18 Jones Act ships, called it "grossly unfair that we pay taxes for certain services and this big corporation goes foreign and they get the benefit of the same services without paying for them." He said that because Nabors pays little in taxes it can underbid competitors, growing until it dominates the industry. If Congress lets Nabors keep its ships and operate more, Mr. Cheramie said, "I won't have a choice but to become a Bermuda company." Each side is seeking a rider to one of the appropriations bills expected to be voted on in the next few weeks that would put its stance into law. No bill has been introduced and Congress has not held any hearings, which is common with special-interest legislation affecting taxes. Calls to Nabors offices in Houston and Barbados were not returned. A Nabors lobbyist, Kenneth J. Kies, expressed confidence that Congress would back the company, but would not say who was taking its case forward. Some senators and congressmen who rivals said were Nabors's supporters said they were not involved. Nabors's opponents are more vocal. Representative David Vitter, Republican of Louisiana, said Congress never intended to create a loophole for foreign companies like Nabors to finance an American subsidiary. "This was for a bona fide bank" to provide financing, he said, calling the Nabors arrangement "an abuse." Representative Gene Taylor, Democrat of Mississippi, said he was "angry that a company that became foreign so it would not have to pay taxes still gets all the benefits the taxpayers provide, with the Coast Guard to rescue their ships if they get in trouble and the Navy Seals if they are attacked by terrorists. "They have an advantage against companies that pay taxes." Last year Nabors paid 7 cents in taxes out of each dollar of profit. nytimes.com

To: E. T. who wrote (477805)	10/18/2003 11:32:28 AM
From: jim-thompson	Respond to of 769670

The Army has never been know for providing lavish living quarters which many of us would prefer to have. In today's don't ask Army it is good to have open living areas and open latrines. Fudge packers normally do not practice their behavior in the open. The guys getting it on at Disney World were an exception. LOL.

To: E. T. who wrote (477805)	10/18/2003 11:54:40 AM
From: jim-thompson	Respond to of 769670

Here are some comments from a military site: Well if this is true I'm surprised their not all committing suicide *********************** Hot Barracks, Oh MY! Welcome to the world of Americas Warriors..We knew what we were getting into when we signed the dotted line. So dont make a big deal out of! I dont know any Sfc or any other SR NonCom who would say that crap. *************** I understand. I asked the medic for an aspirin once, and all he could promise was a codeine! Terrible! and it was wrapped in tinfoil to make matters worse! ************************ Since when has the Army ever been club Med? *********************** I'm heading to Ft Stewart next month for deployment...I'll make sure I look up this "Hell-Hole"... ********************** Hot barracks...sheeeeezzzz...Never had anything BUT hot barracks...Except in the winter..Went through BCT living in Quonset Huts, plenty of tin hooches since then. PHOOEY!!!! ************************** Parts of it may be true...the Guard have been put up in some pretty old barracks because there's not enough room in the regular barracks. A lot of them want to be in their home state and the bases there are not set up to handle the extra bodies. As far as I know - none of the guys injured in my husband's unit have had delays in treatment though. ***************************** Here's another shocking fact, U.S. Soldiers forced to eat crappy K-Rats in the field!!! ********************************* MPWife, the Guard ALWAYS gets old barracks.... I've never seen anything else in 23 years of AD and NG service...We're only there for few days anyway...I haven't been there for a while, but I bet that there are others who know North Ft Hood.. It was a POW camp. Then it was the Guard's cantonment area... *************************** Well, I've never been to Stewart, but if the Army treats us like Knox did when we mobed last year, I'll probably right next door to 'em.. But that's another rant.. ************************** I would guess that investigative reporter Mark Benjamin has never been in the military or any where near it than before scrawling this report. The people that have good medicine are Pro Athletes. **************************** Is this just a political jab at Bush, or are you really concerned about Sgt. Buckels? If your concern is genuine you might suggest that people contribute to a charity that helps military personnel, like the VFW, VA hospitals, military relief funds, etc. Bashing a president that a lot of us around here respect is no way to get help. ***************************** Sure, it is probably true. But is it really news? Anyone who has gone on sick call before has waited half a day to be seen. I waited half a day to be seen for a case of the flu that put me in the hospital, and was literally yelled at for falling asleep while waiting to be seen. That is how the military works, it is nothing like a civilian emergency room. Cinder block barracks? So what? I remember living in open bays at Fort Carson while they were building new barracks, and these were hot as hell. When someone flushed a toilet you better hope you were not in the shower, either. And as far as the military not freely granting benefits to all who apply, has it ever been any different? I'm not saying some soldiers are not getting screwed, but this is the military and it has always worked like this. It aint a perfect world. ********************** Post Commander at Fort Stewart needs to be reprimanded for not coddling his troops. How could he expect these darlings to exist without AC and private bathrooms. These open bays and open bathrooms are much needed in today's military when the fascist liberals have been trying to load us up with fudge packers. ********************* My husband was at Ft. Stewart from March 03 to June 03 yes the barracks are concrete blocks, with bunks shoved in tight, the bathrooms are either across the walkway or a couple of buildings away the bathrms are disgusting saw them 1st hand. no stalls... toilet and then about 3 ft. away you have a sink so you will be sitting while someone else is in frotn of you maybe shaving... Not much privacy but hey... neither is home with kids around. Good Luck at Stewart. my husband did get the run around about Dr. appts before leaving for the Sand Box. but finally got in thank goodness but it took alot of waiting and talking to the right ppl.