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View Diary: President Obama's Opening Move: Raise $1.6 Trillion In New Tax Revenue From The Wealthy (222 comments)

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  •  How can we plug this offshore profit loophole? (3+ / 0-)

    Inside story about a leading Oil field services company - starts with letter S with French origins.
    Gets a project in Africa or Middle East. All the personnel are from Houston. Purchases are dictated from Houston but dummy POs are "raised" from the token registered office in Dubai etc. Work is completed. All profits are shown as accruing to the Dubai office since the contract was "signed" by that office. Consulting rates for using Houston personnel are laughably low and travel and training expenses are passed on to the Houston office. Obama tried to plug this in 2010 but was shot down quickly. Any word if this is again on the table?

    If you are for the death penalty, you do not deserve to be called a "pro-lifer". You are anti-choice. Just to make sure, did you support the war on Iraq?

    by Mysoreback on Tue Nov 13, 2012 at 09:11:48 PM PST

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