The travesty of storing vast Domestic corporate profit hoards in their overseas subsidiaries

was another tax-cut game specifically engineered by corporate lobbyists and their sycophantic minions to harm our country and make us destitute.

Why are they obligated to spend it here?

Ruining a perfectly good rant with facts and legitimate questions.

his posts. And I thought I had him on ignore.

By the way, there are two sides to this war on American Democracy, the corporatists and We The People. Tell us whose side you are on.

posts supporting CorpAmerica.

(From today's show.) Thanks. 18 of the 20 studied corps. are what he calls "heavy users" of the offshore subsidiary scams. For example, he says that Ebay puts their patents in a box in Zug or somewhere and then pushes all the royalties into Swiss banks by wire transfer. Chances are that all that intellectual property was developed right in San Jose, California. He gives several other relevant examples like the "deferred tax" shell game, too.

http://www.democracynow.org/2011/9/1/as_economy_lags_new_study_reveals"> As Economy Lags, New Study Reveals 25 Top Firms Pay More to CEOs than in Taxes - Democracy Now! (video, ~10 min)

A new study reveals that 25 of the nation’s largest corporations paid more money to their CEOs last year than they did to the federal government in income taxes. Often using overseas tax havens, many of the corporations managed to make billions in profits but paid little to nothing in federal taxes. In many cases the companies received large tax rebates. The list includes some of the country’s best-known companies, such as Ford, Coca-Cola, Verizon, General Electric and eBay. The same study found that the ratio of CEO pay to that of the average worker in the United States jumped to 325-to-1 last year. We speak to the study’s co-author, Chuck Collins, a senior scholar at the Institute for Policy Studies and director of its Program on Inequality and the Common Good. "What these companies do is they use a variety of tax loopholes, corporate loopholes, to game down their taxes. So, these are what I would call the sort of champion in the tax gymnastics department," says Collins. (includes rush transcript)

The company develops a product, then creates an off shore subsidiary in a low or no tax country. Then they sell the rights to the product to the off shore subsidiary. Then they sell the product in this country at what would be a giant profit, except all of the profit is eaten up in licensing fees to - guess who. To the off shore subsidiary they created in the low to no tax nation. So, then because they have earned no profits on their operations here (thanks to the licensing expense) so they pay no taxes here and all of the profit accrues to the subsidiary that never did a thing on the face of this earth to earn anything.

Now, do you understand how it works?