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Military.com Forums Hot Topics & Current Events Point-Counterpoint War profiteering by tax dodge|
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40 day warning 30 july NEMESIS |
What Fresh Hell is this???
This has got to be one of the most disgusting things that I've ever heard, and if you're not pi$$ed as hell, ther is something wrong. Kellogg, Brown and Root, [the largest contractor in Iraq[/b] and a subsidiary of a company that was ran by Dick Cheney, has set up shell companies in the Cayman Islands to avoid paying payroll taxes and unemployment insurance for America Workers. http://www.boston.com/bostonglobe/editorial_opinion/edi...eering_by_tax_dodge/ FOR YEARS, companies more interested in profits than patriotism have registered overseas or used foreign subsidiaries to avoid US taxes. Now a major Pentagon contractor once managed by Vice President Dick Cheney is using Cayman Islands shell companies to help it and its workers escape US payroll taxes. KBR, the largest private contractor for the Pentagon in Iraq, has two shell companies in the Caymans, that, for bookkeeping purposes, employ about 10,500 Americans in Iraq. Because the companies are offshore, neither KBR nor the workers must pay Social Security and Medicare taxes, allowing the company and its workers to avoid paying about $100 million a year, according to Globe reporter Farah Stockman. The principal losers in KBR's tax dodge are US taxpayers. Even though KBR and the workers do not pay Medicare taxes, the employees still will be eligible for benefits eventually, hastening the predicted depletion of the Medicare fund. The workers themselves stand to lose out if they are laid off. Through its shell companies, KBR also avoids unemployment taxes in Texas, where it is registered, and its employees get no unemployment benefits. When KBR set up the second of its two shells in the Caymans, it was still owned by Halliburton. Halliburton's chief executive then was Cheney. His office referred inquiries into the matter to Cheney's personal lawyer, who has not replied to inquiries from the Globe. --------------------------------------------- At a minimum of $100,000,000 a year, that's half a billion dollars that the American people have been screwed out of...ALL WITH THE KNOWLEDGE AND APPARENT BLESSING OF THE DOD Oh, did I mention that the contract for KBR is paid for by YOU AND I!? Will somebody, anybody hold this mis-administration accountable??? I'm beginning to suffer from outrage fatigue. |
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40 day warning 30 july NEMESIS |
Here's more http://www.boston.com/news/world/articles/2008/03/06/to...s_us_taxes_offshore/ CAYMAN ISLANDS - Kellogg Brown & Root, the nation's top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven. More than 21,000 people working for KBR in Iraq - including about 10,500 Americans - are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands. The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies, and officials said the move allowed KBR to perform the work more cheaply, saving Defense dollars. But the use of the loophole results in a significantly greater loss of revenue to the government as a whole, particularly to the Social Security and Medicare trust funds. And the creation of shell companies in places such as the Cayman Islands to avoid taxes has long been attacked by members of Congress. |
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Everybody hates me, Nobody loves me...  |
That's not a new story. And, taxes is the same reason Halliburton moved to Dubai.
Great patriotic American companies! Run by great patriotic American politicians! |
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40 day warning 30 july NEMESIS |
Nice to see you think patriotism has a price tag. How much would it cost for you to screw over your country? Thanks for proving my point about the Repuke Party |
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Everybody hates me, Nobody loves me... |
Sorry. I should have enclosed my words in (sarcasm on) (sarcasm off) |
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40 day warning 30 july NEMESIS |
I've said it many time before. We need a "dripping sarcasm" smiley. Please accept my apologies! |
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When I say "knock it off" I mean "knock it off".  |
Wait, wait, wait, are you saying that the Republican Vice President is implicitly involved in tax fraud????
Say it ain't so.....  I mean, this administration has only had the best interests of America at heart, right??? It couldn't possibly have been about screwing the public to make a buck.....  Of all escape mechanisms, Death is the most efficient. ~~ H.L. Mencken |
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40 day warning 30 july NEMESIS |
Well, he refered questions to his personal lawyer, "who couldn't be reached for comment". Nothing to see here...move along. Oh look!, Over there! Brittney's not wearing any underwear again.  |
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Everybody hates me, Nobody loves me... |
We certainly do! And, we need a Hand Saluticon! Apology accepted. No harm; no foul. |
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Member |
And the higher taxes go, with all the deception by the socialist candidates and the gullibility of their swooning supporters, the more companies will indeed move overseas. As will the money of the wealthy, amply represented in both parties, especially in this quick-moving digital age. All the geegaws, gollywogs, and campaign promises of CHANGE (yea, right back to the same-old, same-old increased transfer from those who work hard and hand to the non-producers) will rebound doubly hard on those who are not independently wealthy. And yet the fools suck down the swill and mouth the shibboleths of tax the wealthy more and give the middle class a tax cut. Dream on, nitwits.
Unless you have worked for a company that does business overseas and you know personally what transpires for the company and its employees, you are a fool to buy half-truths about this that abound in the media. It is nothing short of wonderful to work for companies that allow you to take YOUR EARNINGS, which would otherwise get sucked into the FICA abyss, and put it into a personal retirement account. Further, all the folks I knew of who worked for firms overseas already paid amply for many years of their lives into FICA and all the other wasteful guvmint crap that passes for "necessary" programs. Being able to save more for themselves and their loved ones by not allowing the guvmint to get its sticky fingers on such money is right and just, no matter the greed and envy of the socialists who resent others getting ahead in life. Those who don't like honest earnings retained by those who geneeate the wealth in the first place can cram it and twirl till their eyes pop out. You don't like profits? Then pretend they don't exist or have utility and go back to hunting and gathering, living in caves, and dying by age 30 if you're lucky. |
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Super Member |
ahhh so thats what dian finstine got indicted on war profiteering.... hehehe funny she is the only one indicted so far....
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40 day warning 30 july NEMESIS |
Can't you even get your facts straight? Please provide proof that Diane Feinstein has been indicted. If you can't, I'll assume you're talking out your A$$ AGAIN. Really gets old after a while. And gzo2, this is a brand new story complete with brand new corruption. I hope you're not saying that since we knew about these treasonous bastards a year ago, there is nothing we could, or should, do about it. I see that the majority of "wing-nuts" on this site aren't touching this story with a 10-foot-pole. Guess there are only a few that have a price-tag on their patriotism. What the hell kind of American are you, if you think that a company...(A DEFENSE CONTRACTOR MAKING UNGODLY AMOUNTS OF PROFITS FROM OUR TAX DOLLARS) is "justified" in setting up bogus shell companies in the Cayman Islands??? I guess some will defend all kinds of corrupt behavior as long as it's their side that's doing it. |
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Super Member |
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I like to fight fire... with gasoline...  |
Just when you think things couldn't get more despicable...they do. War profiteering for the 21st Century. How neat and tidy they have made it AND found a way to blame Democrats for it.
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Super Member |
well after all they are the only ones doing it....
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I like to fight fire... with gasoline... |
It is disgusting no matter WHO is doing it outlaw. I noticed, however, that you provided links to three blog opinion pieces. Got an ACTUAL news source?
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Super Member |
well like i said they are the only ones doing it....
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I like to fight fire... with gasoline... |
Outlaw, you truly never cease to amaze...Have you had a lot of surgery? You may be able to sue. I think they left a sponge in. |
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Super Member |
what someone left the spunge in you... wow thats got to suck....
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40 day warning 30 july NEMESIS |
OMG! So, in your world, an accusation on some obscure "wingnut" website is equivalent to an indictment??? That's what you said, wasn't it? That Senator Feinstein "had been indicted" Thanks for making it clear that your posts should be ignored in the future. For the future, when you say someone "has been indicted", you actually have to have an indictment to prove it. |
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