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the smking gun
The PBS program Frontline showed the accountants (believe they may have been Ernst & Young and KPMG) whose senior execs sold massive tax reduction schemes by leasing such things as European cities' subways and sewer systems to companies like Wachovia Bank, if memory serves. These people saved bilions in taxes. Compare their FASB (Financial Accounting Standards Board) reported income and their IRS reported inicome.

The only reason E&Y and KPMG didn't see the same fate as Arthur Andersen (who audited Enron, remember them?) was that it was decided that despite these outfits' shenanigans, they were "too big to fail."

The other place to look is multinational corporations, especially non-US companies doing business in the US, who pay practically no taxes. It'd be interesting to see how much taxes big foreign carmakers pay in the US, or better yet, foreign oil companies like BP (British Petroleum), Shell, and others.

These people can get away with things by moving money around their various international subsidiaries, and the miracle of transfer pricing.

Unlike the little people, big business has hundreds of millions to spend lobbying. Gues who gets stuck with the bill.
Posted by: rosanlo   Posted on: 04/15/07 You are currently: a Guest | Members login | Terms of Use
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Inevitible  AdebisiTheGamer | 04/13/07
"...honest tax forms..."  Henry Miller | 04/14/07
Verifies income, claim expenses on the return  Patanjali | 04/15/07
Capital Gains  Patanjali | 04/15/07
Clarification of proposal  cdgoldin | 04/16/07
The IRS needs the money to buy a clue.  Mr. Roboto | 04/15/07
Non-facts  cdgoldin | 04/16/07
What taxes???  No_Ax_to_Grind | 04/15/07
No  AdebisiTheGamer | 04/15/07
Some people do use it as business  voska | 04/16/07
My point being  No_Ax_to_Grind | 04/16/07
Re:What taxes???  joekus | 04/16/07
This doesn't work in Canada  intrepi@... | 04/16/07
None!  cdgoldin | 04/16/07
eBayers making 100K??????  sandawana | 04/16/07
Taxing the Taxes  sandawana | 04/16/07
You need income tax? End corporate welfare.  No_Ax_to_Grind | 04/15/07
For the first time in recorded history  Ole Man | 04/15/07
the smking gun  rosanlo | 04/15/07
I have to second your thoughts here odd but true  intrepi@... | 04/16/07
Not just corporate welfare...  Henry Miller | 04/16/07
Corporate welfare is another myth!  cdgoldin | 04/16/07
This is the...  AH McGee | 04/16/07
um  tekmonster99 | 04/19/07
The same problem for as long as I've been here  intrepi@... | 04/16/07
To: No_Ax (the Socialist)  bdahl385 | 04/16/07
Why?  bubblesroe@... | 04/15/07
Gee, if it wasn't for that damn 16th ammendment to the Constitution  WiredGuy | 04/16/07
Re:Gee, if it wasn't for that damn 16th ammendment to the Constitution  joekus | 04/16/07
Wishful thinking  cdgoldin | 04/16/07
Simply wrong  frabjous | 05/13/07
Tell that to Al Capone  mpetrides | 04/16/07
Re:Tell that to Al Capone  joekus | 04/16/07
Simply wrong  frabjous | 05/13/07
SSN? Sorry, that's not as secret as anybody thinks  CobraA1 | 04/15/07
Its good and bad  jfp | 04/16/07
Another reason to support the FLAT TAX  mikebellman | 04/16/07
Flat tax would definitely work but not for long  intrepi@... | 04/16/07
no tax is fair  AH McGee | 04/16/07
Tax Upon Tax?  CVB_X2Z | 04/16/07
not really  voska | 04/16/07
False and misleading statistics  terry flores | 04/16/07
Tax on personal items sold?  jmattioni@... | 04/16/07
Its you uncle!  hanamc@... | 04/16/07
Fair tax or national sales tax  rushmore | 04/16/07
NEW 2 LINE 1040 SIMPLIFIED VERSION!!!  hanamc@... | 04/16/07
Selling stuff online? Here comes the IRS  doc.two@... | 04/16/07
I have other reasons to avoid Ebay  intrepi@... | 04/16/07
I concur with you on this one  intrepi@... | 04/16/07
"Revenue Neutral" is the problem  stv@... | 04/16/07
Garage Sales  mikebn | 04/16/07
Garage sales  theforce | 04/16/07
IRS will cause KAOS  hypheru2 | 04/16/07
IRS will cause KAOS  hypheru2 | 04/16/07
IRS will cause KAOS  hypheru2 | 04/16/07
What a joke  TwiddleDee | 04/16/07
About Time!  Enorton42@... | 04/16/07
eBay Is FULL of Crooks .. My Story  Enorton42@... | 04/16/07
ebay tax  starkey97@... | 04/16/07
EBAY IS FULL OF CROOKS?  starkey97@... | 04/17/07
16th Amendment ?????  newsletters@... | 04/17/07
Simply wrong  frabjous | 05/13/07

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