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(Fox News)   Good: Romney releases a year's worth of tax papers. Bad: Media points out accounts in offshore tax havens. Fark: And when I say Media, I mean Fox News   (foxnews.com) divider line 4
    More: Unlikely, Mitt Romney, Fox News, White House, Swiss bank accounts, Walter Mondale  
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2155 clicks; posted to Politics » on 11 Jul 2012 at 2:54 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-07-11 04:57:49 PM
1 votes:

Giltric: So what is the law regarding this? You pay taxes on it when you earned it and you put it offshore but when you try to repatriate that money you pay taxes on it or something ?


For corporations with overseas profits, the practice is the let those profits accumulate for a few years, then lobby for a tax holiday for repatriated funds under the justification that this will spur employment. I imagine similar schemes exist for wealthy individuals, especially when the individual's foreign assets are tied to a corporate form.

See:
Discussion of new tax holiday

IRS report containing analysis of the 2004 tax holiday

Podcast where Jack Abramoff discusses 22,000% ROI for lobbying for TYCO on the last tax holiday.
2012-07-11 03:08:46 PM
1 votes:

AdolfOliverPanties: Ouch. Has the GOP ever hated their own nominee this much?


Has FOX news ever stood to make so much money manufacturing rage for another 4 years?
2012-07-11 01:47:48 PM
1 votes:

kronicfeld: AdolfOliverPanties: Has the GOP ever hated their own nominee this much?

The article is by Joe Trippi, a strategist for Howard Dean and Ted Kennedy.


How did he get in the building at Fox?
2012-07-11 01:45:35 PM
1 votes:

AdolfOliverPanties: Has the GOP ever hated their own nominee this much?


The article is by Joe Trippi, a strategist for Howard Dean and Ted Kennedy.
 
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