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Author: FreeBear Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 54109  
Subject: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 12:47 AM
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More hypocrisy. Caught in the headlights of the historical
record, then send out Ari to weasel:

http://biz.yahoo.com/rc/020731/bush_harken_2.html

In a practice now criticized by the White House and
Republicans, U.S. President George W. Bush and Vice
President Dick Cheney served in leadership positions
at companies that set up subsidiaries in offshore tax
havens, according to documents and an analysis of
company records released on Wednesday.

Democrats said revelations of offshore subsidiaries
created by Harken Energy Corp. (AMEX:HEC - News) while
Bush served as a director and Halliburton Co. (NYSE:HAL -
News) while Cheney was chief executive offered new
evidence that the president and the vice president
failed to practice the corporate policies they now preach.

The White House, in response to a wave of accounting
scandals at major U.S. corporations, has railed against
the practice of setting up subsidiaries in tax havens
like the Cayman Islands and Bermuda to sidestep disclosure
rules and avoid paying U.S. taxes.

Bush called it "a problem" and said, "We ought to look
at people who are trying to avoid U.S. taxes."

[...]

While Bush served on Harken Energy's board of directors
in 1989, the company set up an offshore subsidiary in the
Cayman Islands, the White House acknowledged. But spokesman
Ari Fleischer denied it was a scheme to avoid paying taxes
in the United States.

[...]

Halliburton, which Cheney ran before becoming vice
president, was even more aggressive in its use of
offshore tax havens, according to an analysis of
company filings with the Securities and Exchange
Committee by Citizen Works, a nonpartisan group founded
by consumer advocate Ralph Nader.

The number of Halliburton subsidiaries incorporated in
offshore tax havens rose from 9 to 44 while Cheney
served as chief executive between 1995 and 2000, the
group said.

[...]

* * *

A quote from Dante would be in order here. Another
day perhaps.


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Author: AndrewVare Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47048 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 1:05 AM
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"The White House, in response to a wave of accounting
scandals at major U.S. corporations, has railed against
the practice of setting up subsidiaries in tax havens
like the Cayman Islands and Bermuda to sidestep disclosure
rules and avoid paying U.S. taxes.

Bush called it "a problem" and said, "We ought to look
at people who are trying to avoid U.S. taxes."
"

My feeling is, government shoulld be aware that there are competing jurisdictions for business that are far more tax-friendly, and that the outright confiscation of 40% of one's hard earned dollars needs to be countered with some healthy competition. In Judge Learned Hand's own words, individuals have the right(actually, obligation) to minimise their own taxes.

Bush's words were well-chosen since there is a difference between avoiding taxes and delaying taxes. "Avoiding taxes" is criminal. "Delaying taxes" is our godgiven right and should be vigorously pursued. It's why we buy stocks that have no dividends and reinvest internally. It's why we buy municipal bonds exclusively.
It's why we pursue investment properties that have depreciation allowances.
Capitalism will die a quick death if offshore capital mobility is impaired. Ollie North would never have been able to accomplish what he did without Panama City.

ATV

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Author: FreeCashFlow214 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47049 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 1:45 AM
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I guess Bush and Cheney should blame Britney for everything that goes wrong.

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Author: ClarkePitts One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47050 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 1:59 AM
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there is a difference between avoiding taxes and delaying taxes. "Avoiding taxes" is criminal. "Delaying taxes" is our godgiven right

I think that the US is the same as the UK in that avoiding taxes is in fact not illegal; it is EVADING taxes that is illegal.

Avoiding just entails being tax efficient, 401K, using all the available tax breaks etc.

Evading means lying about your income or faking your entitlement to breaks.

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Author: drebbin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47054 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 8:23 AM
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AndrewVare: My feeling is, government shoulld be aware that there are competing jurisdictions for business that are far more tax-friendly, and that the outright confiscation of 40% of one's hard earned dollars needs to be countered with some healthy competition. In Judge Learned Hand's own words, individuals have the right(actually, obligation) to minimise their own taxes.

Bush's words were well-chosen since there is a difference between avoiding taxes and delaying taxes. "Avoiding taxes" is criminal. "Delaying taxes" is our godgiven right and should be vigorously pursued. It's why we buy stocks that have no dividends and reinvest internally. It's why we buy municipal bonds exclusively.
It's why we pursue investment properties that have depreciation allowances. Capitalism will die a quick death if offshore capital mobility is impaired. Ollie North would never have been able to accomplish what he did without Panama City.


Good grief. This post was so good I can't believe you wrote it. Egg on my face. You've earned another Favorite Fool, if only for a time... ;-)

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Author: JustThis Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47055 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 9:23 AM
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I guess Bush and Cheney should blame Britney for everything that goes wrong.

Nah, the old Bush tried to do that with Murphy Brown and it got them nowhere. The Bushes realize the the best way for them to operate is to blow things up.



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Author: drebbin Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47056 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 9:47 AM
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JustThis: Nah, the old Bush tried to do that with Murphy Brown and it got them nowhere.

Statements like this really make me question your grip on reality.

But anyway, the statute of limitations has clearly run out on this line. Everyone admits that Quayle was right, liberal hyperventilating at the time notwithstanding.

http://www.depauw.edu/news/story.asp?id=374564774884259

10 Years Later, TV's Murphy Brown Says Dan Quayle Was Right

"[Candice] Bergen, who starred in the television series that Quayle criticized, is quoted in an Associated Press report on her speech as saying, "I never have really said much about the whole episode, which was endless. But his speech was a perfectly intelligent speech about fathers not being dispensable and nobody agreed with that more than I did."

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Author: JustThis Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47061 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 4:11 PM
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Statements like this really make me question your grip on reality.

there is no reality, but you have quite figured that is my perspective.

Secondly, it was a off handed joke to make fun of FCF for all of pop culture references.

But if you want to get into it.

Thirdly, Quayle was not right. Murphy Brown was a character(cancled show) and it would be impossible for her to say he was right as the headline says. Maybe Ms Bergen said he was, but who cares? Quayle's and Bush's pop culture attacks were stupid and hurt them in the eyes of many. It went into the whole Bush being out of touch with "real" people. Bush II with his welfare mothers should find a man policies. The do nothing economics. The new and improved gulf war.

Like out of touch father like out of touch son. It is not past the statute of limitations because the same people that organized those policies are the same ones that are doing it now.

It is like some bad time warp where we have to live through a war, recession, and "family values" americana all over again.







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Author: JimiH3ndrix Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47062 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 4:14 PM
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I used to be a young impressionable Murphey Brown viewer. After she had the baby, I too tried to get knocked up.

Now I just walk around town showing my belly button.

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Author: Pituophis Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 47067 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 8/1/2002 5:30 PM
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A quote from Dante would be in order here.

"Abandon all hope ye who enter here."

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Author: taxlibrary Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 54091 of 54109
Subject: Re: Bush&Cheney: Ooops, I did it again! Date: 12/19/2008 6:25 AM
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Setting up a subsidiary in a tax haven does not entail tax evasion.

Lying about the income of that subsidiary, or not declaring that income for tax purposes in the holding company's country of residence is, however, criminal tax evasion.

http://www.taxlibrary.co.za

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