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60min had a replay of an earlier report on corporate tax havens last night.

Which now raises even more questions especially related to this now infamous remark and backed up by many of like minded ideology:

"Corporations are people, my friend."

Followed quickly by this:

"Of course they are. Everything corporations earn ultimately goes to people."

Which people and where, are these corporate profits trickled down too?

While they renounce their corporate citizenship to dodge the corporate U.S. tax rates they stay on the trading boards of Wall Street as U.S. to be invested in.

Many of these corporations have greatly enhanced their bottom lines on U.S. government contracts, especially the no bids of the previous administration and especially related to the two now long running occupations while the VA budgets weren't enhanced thus staying under funded, No Demand for Sacrifice.

Their corporate execs as well as their wealthy investors have also been reaping greater bottom lines to their personal wealth, now at extreme long running and extended low tax rates, off same occupations either directly or indirectly!

And the 'supreme's' made them individual citizens with individual rights!

A look at the world's new corporate tax havens
August 14, 2011 - Our government is in knots over ways to lower the federal budget deficit. Well, what if we told you we found a pot of money - over $60 billion a year - that could be used to help out?

That bundle is tax money not coming in to the IRS from American corporations. One major way they avoid paying the tax man is by parking their profits overseas. They'll tell you they're forced to do that because the corporate 35 percent tax rate is high in relation to other countries, and indeed it seems the tax code actually encourages companies to move businesses out of the country.

snip

When President Obama threatened to clamp down on tax dodging, many companies decided to leave the Caribbean, but as we first told you in March, instead of coming back home, they went to safer havens like Switzerland.

Several of these companies came to a small, quaint medieval town in Switzerland called Zug.

Hans Marti, who heads Zug's economic development office, showed off the nearby snow-covered mountains. But Zug's main selling point isn't a view of the Alps: he told Lesley Stahl the taxes are somewhere between 15 and 16 percent.

snip

Texas Democratic Congressman Lloyd Doggett questions whether the recent moves of several companies are legit. "A good example is one of my Texas companies that's been in the news lately, Transocean," Rep. Doggett told Stahl.

Transocean owned the drilling rig involved in the giant BP oil spill. They moved to Zug two years ago.

"I'm not sure they even moved that much. They have about 1,300 employees still in the Houston area. They have 12 or 13 in Switzerland," Doggett told Stahl.

"And yet they claim that they're headquartered over there," Stahl remarked.

"They claim they're Swiss. And they claim they're Swiss for tax purposes. And by doing that, by renouncing their American citizenship, they've saved about $2 billion in taxes," Doggett explained. read more>>>

I may be wrong, but my understanding would be they can't be dual citizens, if so they would still be held libel for their U.S. tax rate, so why are they considered U.S. companies for all other purposes but for their fair share to the U.S. treasury!

No Revenues = Still No Sacrifice = That's Called 'Support' For The Troops!!

No Sacrifice now a decade long added to the previous decades!!
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Comment Preferences

  •  Tip Jar (4+ / 0-)
    Recommended by:
    irate, marina, Quoth, wader

    CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

    by jimstaro on Mon Aug 15, 2011 at 05:14:48 AM PDT

  •  Exactly (1+ / 0-)
    Recommended by:
    jimstaro

    Corporations employ people and in that limited sense "are" people, so Romney was technically correct.

    But - corporations are not US citizens.  They don't have any of the obligations of US citizens.  They can be sued by their shareholders if they fail to pursue profit-making opportunities that move jobs away from US citizens.

    Politics is still national, not international.  Corporations do not deserve the same rights as citizens in our political system, much less the right to run roughshod over citizens that the Supreme Court has given them.

    sTiVo's rule: Just because YOU "wouldn't put it past 'em" doesn't prove that THEY did it.

    by stivo on Mon Aug 15, 2011 at 05:34:04 AM PDT

    •  Your First Sentence Is Wrong (1+ / 0-)
      Recommended by:
      wader

      At least to my thinking, if that were the case wherever they hire 'people' they are held to the same standards this country has if they're U.S., wages, safety etc., there is no limited sense, they aren't plantations!

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 05:44:10 AM PDT

      [ Parent ]

    •  Abit Clearer, I think (0+ / 0-)

      If the state owned the corporations and thus for most would dictate where one worked then that argument, as I see it and have since used, would be correct, for then the citizen would work for the state entity not a private entity.

      An employee, whether with contract or not, is a lone being when hired in the private sector, they are expected to contribute to the growth of the private company but can move from one to another, on their own or being fired, and even different professional, thus making the company just that and the employee a citizen of the society.

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 06:16:37 AM PDT

      [ Parent ]

  •  Foreigners can't contribute to campaigns... (2+ / 0-)
    Recommended by:
    jimstaro, ahumbleopinion

    So too foreign companies?  How are they getting around that little technicality?

    "Ich bin ein Dachs!"

    by PvtJarHead on Mon Aug 15, 2011 at 05:34:24 AM PDT

    •  My Thought (2+ / 0-)
      Recommended by:
      PvtJarHead, wader

      Exactly, or actually another of the many that went through my head once again watching this and especially with what the corporate exec was stating!!

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 05:45:41 AM PDT

      [ Parent ]

    •  They Also (1+ / 0-)
      Recommended by:
      PvtJarHead

      Should be listed on the trding boards of the countries they now say their 'citizens' of, to be invested in there not on Wall Street and not part of the lists covered in the daily reports.

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 05:47:24 AM PDT

      [ Parent ]

  •  Corporations should be considered their Executives (0+ / 0-)

    and major shareholders.  Those people obtain the roles with greatest rewards, which in the USA is far more disproportionate in comparison to the company's workers than in Europe, from what I've read.

    Regardless, they are people in a practical sense, in terms of their benefits, how their lobbying against unions, equal rights, industry regulations, determination of ultimate financial management of their business, etc. occur.  If corporations are gaining the rights of regular people, then certain levels of ownership in their ranks should be treated as individuals who represent the corporations, I feel.  They can't gain the benefits without the liabilities forever, except in a permanent class war.

    "So, please stay where you are. Don't move and don't panic. Don't take off your shoes! Jobs is on the way."

    by wader on Mon Aug 15, 2011 at 06:18:48 AM PDT

    •  Nope (1+ / 0-)
      Recommended by:
      wader

      Read what I wrote above to same thought, they aren't people, and if they now claim to be wherever they have set up headquarters they are no longer U.S. entities.

      Just like people who live here, I've known a number of Canadians, who never renounced their Canadian citizenship nor became U.S. citizens, similar for some, had a few friends while serving years ago, who joined our military, served in, but decided to not become citizens of and stayed as from wherever they originally were from.

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 06:25:14 AM PDT

      [ Parent ]

      •  Should Add (0+ / 0-)

        I'm not as bright as the supreme's and what they say, corporate owned or not, is law, so we got what we got, just don't want one standing next to me at a public urinal.

        CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

        by jimstaro on Mon Aug 15, 2011 at 07:04:27 AM PDT

        [ Parent ]

      •  I think my point did not come through (0+ / 0-)

        My feeling is that corporations are already being considered people in law, but in a highly selective fashion.

        I agree that they should not be considered such, but that notion isn't being rolled back with a Stevens Court any time soon.

        So, let's ensure that the true, practical face of corporations are given the liabilities of people - and, identify those people.  That is, the same people I mentioned above who financially represent the corporations.

        "So, please stay where you are. Don't move and don't panic. Don't take off your shoes! Jobs is on the way."

        by wader on Mon Aug 15, 2011 at 07:51:00 AM PDT

        [ Parent ]

        •  As The Man Above Says (1+ / 0-)
          Recommended by:
          ahumbleopinion

          If they say they're Swiss then they're Swiss and cannot participate in anything as they would if Still considered and called American, no matter what the Supreme's say, unless the Court is now calling itself of another country as well!

          CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

          by jimstaro on Mon Aug 15, 2011 at 08:07:53 AM PDT

          [ Parent ]

          •  Why not? I'd like to see them as liable for their (0+ / 0-)

            business in the USA, regardless of where they live.

            You don't agree with such a sentiment?

            "So, please stay where you are. Don't move and don't panic. Don't take off your shoes! Jobs is on the way."

            by wader on Mon Aug 15, 2011 at 02:00:43 PM PDT

            [ Parent ]

  •  My car carries people, so cars are people. (0+ / 0-)

    Corporations employ people and they are made up of people, but all of those people,  are people.  If we count the corporation as a person as well, now you have an extra person.  This person can live forever.  They have special rights above what normal people have, otherwise, why incorporate?

    It's not that complicated.  Romney relies on people not being able to think very well.   If five people incorporate,  how many people do you have?  6?

    Prove me wrong and I'll change my mind.

    by willbjett on Mon Aug 15, 2011 at 07:15:57 AM PDT

    •  Huh?? Thy'in (0+ / 0-)

      To be a Romney, that reads as wackie as he sounds!!

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 08:09:42 AM PDT

      [ Parent ]

    •  Look (0+ / 0-)

      If you're a troll then read the point of, and it ain't about them bein people or citizens except the supreme's say they are, if you're not a troll you should stop reading them then parroting, that reads similar to others I've caught.

      The point is, they say the Corporation is of another entity, i.e. Country of origin, which makes the people who work for here working for a foreign company, yet in every other way but taxes they're treated as if still U.S. Corporations!!

      It's that simple!!

      CCR:"If you're a torturer, be careful in your travel plans. It's a slow process for accountability, but we keep going."

      by jimstaro on Mon Aug 15, 2011 at 08:17:16 AM PDT

      [ Parent ]

  •  Corporations are not people Corporations are (1+ / 0-)
    Recommended by:
    jimstaro

    mobs and the people who run them are mobsters.   Treat them as such.  

    DK4 makes me lonely.

    by tarminian on Mon Aug 15, 2011 at 07:38:57 AM PDT

  •  If corporations are people, (0+ / 0-)

    why do they not have a heart?

    “when Democrats don’t vote, Democrats don’t win.” Alan Grayson

    by ahumbleopinion on Mon Aug 15, 2011 at 08:22:55 AM PDT

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