On Mon, 2 Jan 2006 19:45:49 -0500, "Proctologically Violated©®"
wrote:

Uncle,

I shore wish I could unnerstand you!! I get the gist (financial PV'ing,
no?), but the details sound pretty intriguing, if you could spell them out.
Along w/ how they effing get away with it.
---------------------------
Mr. P.V.'d
formerly Droll Troll
snip
Primary method [other than actual robbery] is by setting their
own wages.

Newest gimmick is called "grossing up" were the corporation pays
all federal, state, and local income/earning taxes so that a ceo
that makes $1,000,000 per year takes home $1,000,000 per year in
addition to the corporate provided apartments, etc. In many
cases where the benes are taxable such as private use of the
corporate jet, or country club memberships, the corporation picks
up the taxes on these also.

Outright robbery is becoming more frequent through self-dealing
with SPEs [special purpose entities] Multi-nationals are
particularly susceptible to this. "Official"
corporations/divisions at both ends of a transaction lose money
while a "ghost" corporation in a tax haven or money laundry,
owned/controled by management makes all the money.

One especially egregious example is the management team that ran
the corporation into chapter 11 now wants 15% of the stock of the
new corporation to be formed when the reorganized corporation is
discharged from bankruptcy. The original stockholders get zip.

Uncle George