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Keyword: taxavoidance

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  • Socialist NYC Mayor Bill De Blasio is Really Good at Tax Avoidance

    04/17/2014 8:51:04 AM PDT · by SeekAndFind · 10 replies
    Townhall ^ | 04/17/2014 | Mike Schauss
    Suffering from a clear lack of intellectual honesty, the morally bankrupt progressive socialist mayor of New York City seems to have a knack for tax avoidance. (And remember: despite what Harry Reid would have you believe, tax avoidance is not a crime.) According to public records, Bill “punish the rich” de Blasio paid a mere 8 percent of his income in federal taxes. Just to put that in context for any liberal that has accidently stumbled across this paragraph: That’s less than that capitalist pig, Mitt Romney paid in prior years. Of course, to be fair, it is possible...
  • EU nations agree on rules to fight tax evasion (tax avoidance actually)

    03/20/2014 5:43:47 PM PDT · by Olog-hai · 4 replies
    Associated Press ^ | Mar 20, 2014 8:31 PM EDT | Raf Casert
    European Union nations on Thursday agreed on a sweeping policy to fight tax evasion after tiny Luxembourg dropped its reservations to new rules which render its secretive banking culture more transparent. Luxembourg Prime Minister Xavier Bettel confirmed at Thursday’s summit of EU leaders “the willingness of the government to take that road,” a key step to scrap the banking secrecy for foreigners. […] The legislation proposes an EU-wide automatic exchange of data on bank deposits to allow governments to identify and pursue tax evaders with foreign accounts on home soil. Van Rompuy said it would “close down loopholes, promote automatic...
  • Tax Expert: ‘Staying Unmarried Is the Tax Shelter for the Poor’

    09/18/2013 9:28:40 PM PDT · by Olog-hai · 14 replies
    Cybercast News Service ^ | September 18, 2013 - 3:40 PM | Penny Starr
    Federal tax expert Gene Steuerle said at a discussion on low-wage workers on Tuesday at the Capitol that government social welfare programs penalize low-income people for being married. “Staying unmarried is the tax shelter for the poor,” Steuerle, a fellow at the Urban Institute and former deputy assistant secretary of the Treasury for tax analysis in the Ronald Reagan administration, said at an event to release a survey commissioned by Oxfam America on low-wage workers in the United States. …
  • Dolce and Gabbana sentenced to jail for tax evasion (no, avoidance)

    06/19/2013 10:19:26 PM PDT · by Olog-hai · 2 replies
    France 24 ^ | 06/19/2013 | (AFP News Wires)
    An Italian court Wednesday sentenced fashion house duo Dolce & Gabbana to one year and eight months in prison for tax evasion of around €1 billion ($1.33 billion), according to media reports. Lawyers for Dolce and Gabbana, whose celebrity clients include Beyoncé and Madonna, immediately said they will be appealing, and under Italian law the sentence will be suspended in the meantime. Domenico Dolce and Stefano Gabbana were accused of having transferred control of their brands to a shell company in Luxembourg in 2004 and 2005 to avoid paying Italian taxes. …
  • Corporate Tax Avoidance: Where’s the Harm?

    05/27/2013 7:54:05 AM PDT · by SeekAndFind · 7 replies
    Townhall ^ | 05/27/2013 | Chris Edwards
    Politicians are having fun slapping around big corporations for supposedly not paying enough taxes. In this country, Apple is the current target, while in Europe it’s Google, Amazon, and Starbucks, according to the Washington Post today. But there is an elephant in the room that the many reporters and politicians blustering over the issue have been too ideologically blind to see: There is no obvious harm being done by today’s corporate tax avoidance. The first thing to note is that when investment flows through tax havens, it’s not clear that it causes any economic distortions. The Washington Post story...
  • NIGEL FARAGE ON 12% TAX RATE FOR MEMBERS OF EU PARLIAMENT: IT IS TAX FRAUD ON A MASSIVE SCALE!

    05/23/2013 2:30:05 AM PDT · by Maurice Tift · 12 replies
    Silver Doctors ^ | MAY 22, 2013 | The Doc
      The European Parliament met Tuesday to discuss the issue of tax evasion throughout the UK and the Eurozone, and how the European Parliament might clamp down on those attempting to protect their well earned wealth from government confiscation.    All was going according to plan, until UKIP member Nigel Farage was given the floor.    Farage immediately launched into a classic rant against Barroso and the rest of the EU bureaucrats, stating that it is not the average man on the street that is engaging in tax fraud, but the European Parliament members themselves:    If we look at the...
  • EU steps up fight against tax evasion by end 2013 (tax avoidance really)

    05/22/2013 11:29:08 AM PDT · by Olog-hai · 11 replies
    Associated Press ^ | May 22, 2013 12:33 PM EDT | Juergen Baetz and Raf Casert
    The European Union’s leaders have agreed to push through a major policy to tackle tax evasion by the end of the year. The EU said the 27 heads of state and governments agreed at summit in Brussels Wednesday to an automatic exchange of bank information among the bloc’s tax authorities to catch tax cheats. … European Union leaders on Wednesday sought to advance their fight against tax fraud and close the loopholes for large corporations’ tax avoidance schemes. … According to a draft summit conclusion obtained by The Associated Press, the leaders are urging rapid progress in the “efforts taken...
  • IRS High-Tech Tools Track Your Digital Foorprint

    04/06/2013 4:19:30 AM PDT · by benasawin · 101 replies
    US News ^ | 4-5-2013 | Richard Satran
    The Internal Revenue Service is collecting a lot more than taxes this year--it's also acquiring a huge volume of personal information on taxpayers' digital activities, from eBay auctions to Facebook posts and, for the first time ever, credit card and e-payment transaction records, as it expands its search for tax cheats to places it's never gone before.
  • GREG MANKIW: Warren Buffett Doesn't Tell You About How He's A Master Of Tax Avoidance

    11/26/2012 11:20:51 AM PST · by SeekAndFind · 24 replies
    Business Insider ^ | 11/26/2012 | Joe Weisenthal
    In a NYT Op-Ed today, Warren Buffett argued that the rich should pay a certain minimum tax, and he explained to activist Grover Norquist that it's preposterous to think that businessmen would forgo profitable deals merely because the rate of tax on the profits would go up. But why do people listen to Buffett on taxes? Basically because he's a rich, successful guy (which is why a lot of people are listened to on a lot of subjects). To that end, economist and former Romney advisor Greg Mankiw has a short post talking about Buffett as a master of "tax...
  • Jobs’s Philanthropic Record Is The Subject Of Debate

    10/07/2011 11:02:08 AM PDT · by Lmo56 · 35 replies
    Wa Po ^ | 10/7/11 | Peter Whoriskey
    For one of the nation’s most famous billionaires, Steve Jobs kept a low profile as a charitable donor. Unlike fellow tech leaders Bill Gates of Microsoft and Mark Zuckerberg of Facebook, he did not sign the Giving Pledge, the effort under which the nation’s richest individuals commit to giving at least half of their wealth to philanthropy. His name is absent from the list of gifts of $1 million or more maintained by Indiana University’s Center on Philanthropy. And it wasn’t until after an unflattering media report aboutJobs on the subject over the summer that Apple in September initiated a...
  • GOP accuses (liberal Dem candidate)Dayton of avoiding Minn. taxes

    09/08/2010 10:19:23 AM PDT · by MplsSteve · 6 replies · 1+ views
    Minnesota Republican leaders are accusing Democratic gubernatorial candidate Mark Dayton of avoiding state income taxes with trust funds located outside the state. GOP chairman Tony Sutton pressed Wednesday for Dayton to release more information about his family's trusts and voluntarily pay Minnesota money from earnings on the accounts. Dayton's campaign quickly responded that the GOP was relying on outdated information and he has no current offshore holdings. Dayton has built his campaign for governor on a pledge to raise taxes on Minnesotans with the highest incomes. Dayton's family founded a major department store chain. The GOP used details from the...
  • Do as I say……Barack Obama

    04/15/2010 7:08:54 PM PDT · by scannell · 14 replies · 887+ views
    Next Stop Lauderdale ^ | 4/15/2010 | Steve Cannell
    Obama’s tax return for 2009 was just published today. There is some interesting information that you WILL NOT hear in the mainstream press. Barack Obama made $1.6 million dollars in dividends and investment “income” from “foreign” (as in overseas) investments (providing foreign capital for foreign jobs some likely “exported” from the USA) and only made $12,000 dollars in dividends from US based companies, and even this was because he was the beneficiary of a Trust that made the investment decisions not likely Barack Obama. Obama didn’t pay any US taxes on the $1.6 million in foreign income as corroborated on...
  • Heavenly Tax Havens

    02/26/2008 3:57:18 PM PST · by Tolerance Sucks Rocks · 80 replies · 624+ views
    Cato Institute ^ | February 26, 2008 | Daniel J. Mitchell
    The German government's purchase of data stolen from a Liechtenstein bank has reinvigorated longstanding debates about privacy, law enforcement and international relations. Much of the fallout has followed predictable patterns. Some argue that Germany's richest citizens should be brought to justice for failing to comply with the tax laws, while others point out that it is unseemly for a nation to spy on a peaceful neighbor. The conflict between Germany and Liechtenstein also has triggered a broader debate about tax competition and the role of so-called tax havens. The Paris-based Organization for Economic Cooperation and Development is trying to use...
  • WSJ: Congress and KPMG - The fuzzy line between tax avoidance and evasion - shades of Andersen

    08/30/2005 6:06:21 AM PDT · by OESY · 3 replies · 456+ views
    Wall Street Journal ^ | August 30, 2005 | Editorial
    KPMG avoided the fate of Arthur Andersen yesterday... over the marketing and sale of "abusive" tax shelters. But the price of survival was high. The accounting firm will pay $456 million in fines and restitution and has agreed to let a federal monitor look over its shoulder. At the same time, no fewer than eight former KPMG executives and an outside lawyer were indicted on conspiracy charges for designing and selling the shelters.... KPMG will survive this "deferred prosecution" by admitting wrongdoing. But it's easy to forget amid the righteous indignation over tax shelters with names like FLIP, BLIP, OPIS...
  • Secretly, tiny nations hold much wealth(NO TAX)

    04/24/2005 5:40:49 PM PDT · by Dubya · 86 replies · 2,141+ views
    The Christian Science Monitor ^ | April 25, 2005 | David R. Francis
    Although they have only 1 percent of the world's inhabitants, they hold a quarter of United States stocks and nearly a third of all the globe's assets. They're tax havens: 70 mostly tiny nations that offer no-tax or low-tax status to the wealthy so they can stash their money. Usually, the process is so secret that it draws little attention. But the sums - and lost tax revenues - are growing so large that the havens are getting new and unaccustomed scrutiny. For example: When London's Tax Justice Network (TJN) reported a month ago that rich individuals worldwide had stashed...
  • Nations join forces on tax avoidance (United Nations task force IMF and World bank)

    04/24/2004 9:43:29 PM PDT · by truth4 · 11 replies · 170+ views
    Nations join forces on tax avoidance An international task force to combat tax avoidance is to be set up by the US, Australia, the UK and Canada. The task force, which is expected to be based in New York, will focus on tax avoidance schemes employed by business and take joint action against such schemes. News of the plan, which is expected to be confirmed by ministers soon, emerged as the spring meetings of the International Monetary Fund and World Bank began in Washington. Senior tax officials from the four countries involved have been meeting over the past two days...
  • Many Firms Avoided Taxes in Boom (60% pay no federal tax)

    04/09/2004 7:06:41 PM PDT · by gd124 · 23 replies · 274+ views
    CNNmoney ^ | April 6, 2004
    <p>WASHINGTON - More than 60% of U.S. corporations didn't pay any federal taxes for 1996 through 2000, years when the economy boomed and corporate profits soared, Tuesday's Wall Street Journal reported, citing the investigative arm of Congress.</p> <p>The disclosures from the General Accounting Office are certain to fuel the debate over corporate tax payments in the presidential campaign. Corporate tax receipts have shrunk markedly as a share of overall federal revenue in recent years, and were particularly depressed when the economy soured. By 2003, they had fallen to just 7.4% of overall federal receipts, the lowest rate since 1983, and the second-lowest rate since 1934, federal budget officials say.</p>
  • Bedford man pleads guilty in tax case (another tax protester bites the dust)

    10/01/2003 6:07:09 AM PDT · by sinkspur · 6 replies · 170+ views
    Fort Worth Star Telegram | 10/01/2003 | Toni Heinzl
    FORT WORTH - Richard Simkanin, the Bedford businessman who cloaked his opposition to the federal income tax in the patriotic language of the Founding Fathers, pleaded guilty Tuesday to failing to collect and pay taxes on his employees' wages. In an unusual move in a plea bargain, federal prosecutors required Simkanin, 59, to post on his Web site the plea documents and, later, the judge's sentencing order. Simkanin was asked to do that because he previously used his Web site to publish anti-government rhetoric, prosecutors said. Simkanin, the owner of Arrow Custom Plastics, had been a thorn in the side...
  • John Edwards: Corporate Tax Evader

    09/09/2003 7:57:45 AM PDT · by TommyDale · 7 replies · 279+ views
    Raleigh (N.C.) News & Observer ^ | september 9, 2003 | Rob Christensen
    In 1995, Edwards set up a professional corporation that became an issue in his Senate Campaign. Edwards was the sole employee and sharholder of the corporation, which derived its income from his legal fees. He paid himself a salary of $600,000 in 1996 and $540,000 in 1997, according to personal financial disclosure statements that Senate candidates must file. At the same time, he collected at least $5 million each year in dividends from his corporation. Edwards was required to pay Medicare taxes on his salary but not on the dividends from his "S" corporation, saving the 2.9 percent Medicare tax...
  • AFL-CIO President John Sweeney Demands Corporate Reform in Major Wall Street Address

    07/30/2002 2:15:08 PM PDT · by GeneD · 5 replies · 302+ views
    Former Enron, WorldCom and Arthur Andersen Workers and Thousands of Working Men and Women Call on Business Leaders for Accountability NEW YORK, July 30 /PRNewswire/ -- "American consumers can shop with more assurance of quality and safety at their corner grocery store than American investors have when they shop for equities in our stock market," AFL-CIO President John Sweeney said in a sweeping address today as he called for business leaders and government to curb "crippling greed" with a five-point action plan. Outside the New York Stock Exchange and surrounded by more than a thousand workers, including laid-off Enron Corp.,...