"F. George McDuffee" wrote in message
...
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.
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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
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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.

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-- Unka George (George McDuffee)
..............................

Of course the administration intends to make up the lost revenue
buy putting the bite on small S-corporations that dont have the
resources to relocate. Meanwhile back at ranch wallstreet is
doing business as usual.

Since corporations have been granted the same rights as a
real person in recent court rulings we should simply
tax them in the same manner as ex-patriots are taxed.
Locating corporate headquaters in a forgien country to
evade taxes would become mute. There should also be
a corporate exit tax of 99% when they change thier
national allegience.

Best Regards
Tom.
Rant/off