On Tue, 15 Jun 2010 03:12:08 -0500, F. George McDuffee
wrote:
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It is suggested that people unhappy with this should
consider moving to Mexico or Kyrgyzstan where the taxes are
lower, or at least the rich don't have to pay.
snip

Or if you are a corporation, just open a "head office" in a
tax haven but keep everything else the same...

http://www.bloomberg.com/apps/news?p...d=a9q7DpbuIjBo
snip
June 15 (Bloomberg) -- Transocean Ltd., owner of the
Deepwater Horizon offshore rig leaking oil in the Gulf of
Mexico, reduced its U.S. tax bill by almost $2 billion since
1999 when it moved its headquarters to the Cayman Islands, a
published report said.
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Transocean moved its headquarters to Switzerland in December
2008.

According to the Tax Notes article, Transocean earned $12.8
billion and paid $2.2 billion in taxes since 2000. Had the
company earned those profits while paying its old 31.6
percent effective tax rate, the report said, it would have
paid $1.9 billion more in taxes.

Its rivals reported similar results, the magazine said.
Noble reduced its average tax rate to 17.9 percent from 27.6
percent and saved $678 million after moving to the Cayman
Islands. Nabors saved $652 million in tax since its move to
Bermuda, and Weatherford saved $923 million.

--

-- Unka George (George McDuffee)
...............................
The past is a foreign country;
they do things differently there.
L. P. Hartley (1895-1972), British author.
The Go-Between, Prologue (1953).