Corporate Loopholes, Fraud and Tax Evasion
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When a Pulitzer Prize-winning journalist bumped heads with S.C. Johnson, one of the nation’s largest private companies, the collision renewed a tax-fairness debate that flared with reports that General Electric had no U.S. tax bill despite billions in profits last year. Reuters columnist David Cay Johnston questioned the corporate tax strategies he said allowed the company to avoid paying even one dollar of Wisconsin corporate income tax -- not just for one year, but nine years running.
Inside the SC Johnson vs. David Cay Johnston dispute on corporate taxes
This article was written by an investment manager who works with very wealthy clients. him from decades ago, but he recently e-mailed me with some concerns he had about what was happening with the economy.
Who Rules America: An Investment Manager's View on the Top 1%
Rupert Murdoch's News Corp made 'profit' of $4.8bn in US gov income tax refunds | Mail Online
Even on an accounting basis - which measures taxes incurred but often not actually paid for years - News Corp. had a tax rate of under 20 percent, little more than half the 35 per cent statutory rate. Trouble: News Corp has been the headlines recently for phone hacking at its now closed British newspaper The news of The World Using 152 subsidiaries in tax havens, including 62 in the British Virgin Islands and 33 in the Caymans, News corp is able to avoid paying certain taxes in the U.S.
Apple is lobbying congress for a "Tax Holiday" so they can dodge $4 billion in taxes. Do we want $4 billion for Apple OR salaries for 90,000 teachers?
Apple | US Uncut
Goldman Sachs Group Inc.
Goldman Traders Tried to Manipulate Derivatives Market in '07, Report Says - Bloomberg
Countries such as the United States and United Kingdom are avoided by large technology companies because of their high income-tax rates. The U.S. corporate income-tax rate is 35%, while the U.K.'s is set at 28%.
The Double Irish - How Companies Bypass the US High Income-Tax Rate
From Rising Tide : A little over two years ago, ..
Tim DeChristopher: A Monkey Wrencher comes to Trial « Climate Denial Crock of the Week
Bank of America to pay $137M in state fraud cases
Bank of America will pay $137.3 million to settle allegations that it defrauded schools, hospitals and dozens of other state and local government organizations, federal officials said Tuesday. The settlement stems from a long-running investigation into misconduct in the municipal bond business that raises money for localities to pay for public services. Bank of America is accused of depriving local organizations of millions of dollars by engaging in illegal behavior when investing the proceeds of municipal bond sales.
Cable Companies' $46+ Billion Robbery -- Subscribers Have Been Ripped off for $5 a Month Since 2000 | Media and Culture | AlterNet
When cable television subscribers open their monthly bills they will not see a charge for the “Social Contract.” Since the mid-1990s, it appears that every cable subscriber has shelled out $1 per month increasing to $5 a month by 2000 to subsidize cable companies’ system upgrades. There has been no accounting for the total monies raised through this subsidy nor a thorough assessment of whether the cable operators fulfilled the system upgrades (including wiring and services to public institutions) the subsidy is suppose to underwrite.Guest Post: Mortgages Were Pledged to Multiple Buyers at the Same Time « naked capitalism
Boa Answer to Freddie Objection in Re Taylor Bean & Whitaker Mortgage Corp.Google 2.4% Rate Shows How $60 Billion Lost to Tax Loopholes - Bloomberg
Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.Banking malfeasance Inside the fraud factory
If you've ever bought a house or arranged for refinancing pre-2003, you know it's a serious process with lots of people in the room including buyers, sellers, lawyers, real estate agents, mortgage brokers, title company agents and whoever else needs to be in the room to sign the paperwork. It's a process that can take anywhere from 30 minutes to an hour or more. Once the paperwork is signed, it's sent to the County Courthouse to be legally recorded.G.E.’s Strategies Let It Avoid Taxes Altogether - NYTimes.com
That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E.Against my better judgement, I've ended up writing a lot about the financial mess that we're currently going through. If you've read that, you know that my opinion is that the mess amounts to a giant pile of fraud.