dagblog - Comments for "Would you park your assets in the Cayman Islands if you had nothing to hide?"

"Once you discover the

jollyroger — Fri, 06 Jul 2012 18:41:31 +0000

In reply to Would you park your assets in the Cayman Islands if you had nothing to hide?

"Once you discover the islands, mon, you'll come back again and again (to visit your money )" (Cue Calypso music )

Give us a break. I guarantee

Cayman Resident — Sat, 21 Jan 2012 16:27:29 +0000

In reply to Would you park your assets in the Cayman Islands if you had nothing to hide?

Give us a break. I guarantee that Mitt pays more in taxes in a week than you do in a year.

Living as I do in the Cayman Islands I can assure you that one cannot make investments in the USA tax free.

There is a 30% withholding tax on ALL dividend income from USA shares. That's right, while a USA citizen pays 15% on dividend income a person or company resident in Cayman pays 30%.

The USA is the only country in the world, along with Eritrea, that taxes its citizens on their worldwide income no matter where in the world they live.

British, French, German indeed citizens of every other country only pay tax in their home country if they live there. Citizenship in the USA includes Green Card holders, who are forever obliged to pay taxes on their world wide income, even if they no longer live in the USA.

And this is why companies are formed in the Cayman Islands, to allow Europeans to legally not pay taxes on the income they earn there. If Bain Capital wants to attract them as investors it better be ready be prepared to keep them out of the USA tax net.

He just likes to keep his

Rootman — Fri, 20 Jan 2012 19:01:23 +0000

In reply to Would you park your assets in the Cayman Islands if you had nothing to hide?

He just likes to keep his assets warm.

Well, a spread, anyway. Vive

jollyroger — Fri, 20 Jan 2012 04:51:42 +0000

In reply to Ah. Patriotism has a price!

Well, a spread, anyway. Vive l'arbitrage!

Ah. Patriotism has a price!

Michael Maiello — Fri, 20 Jan 2012 02:08:52 +0000

In reply to I wasn't blaming the tax

Ah. Patriotism has a price!

I wasn't blaming the tax

jollyroger — Thu, 19 Jan 2012 23:50:25 +0000

In reply to I feel like this blames the

I wasn't blaming the tax haven, I was blaming the tax fugitive...in this instance, since the guy wants to be president, we might usefully deconstruct the word:

"repatriate", as in repatriate money.

The root, of course, shares its origin with "patriotism".

Used, then, in a sentence:

"You can show your patriotism by not placing your funds somewhere from which they need repatriation"

I feel like this blames the

Michael Maiello — Thu, 19 Jan 2012 22:58:58 +0000

In reply to Rebecca J. Wilkins, a tax

I feel like this blames the tax havens. I don't. I shouldn't be telling the Cayman Islands or Turks and Caicos what their policies should be. The U.S. loses this money because U.S. law allows for citizens and companies who primarily due business here to headquarter themselves offshore and to live by the laws of that land (so long as they don't repatriate the money). The U.S. doesn't have to do that. Indeed, it creates a perverse incentives for people to make dollars here and squirrel them away elsewhere.

Rebecca J. Wilkins, a tax

jollyroger — Thu, 19 Jan 2012 21:18:18 +0000

In reply to .Prez: "On the campaign, I

Rebecca J. Wilkins, a tax policy expert with Citizens for Tax Justice, said the federal government loses an estimated $100 billion a year because of tax havens.

Let's do be fair. What

Oxy Mora — Thu, 19 Jan 2012 21:09:13 +0000

In reply to .Prez: "On the campaign, I

Let's do be fair.

What happened to my favorite firebrand?

.Prez: "On the campaign, I

jollyroger — Thu, 19 Jan 2012 20:58:38 +0000

In reply to As long as you're thinking

.Prez: "On the campaign, I used to talk about the outrage of a building in the Cayman Islands that had over 12,000 business — businesses claim this building as their headquarters. And I’ve said before, either this is the largest building in the world or the largest tax scam in the world."

I suppose we should, in fairness, distinguish Cayman Islands headquartered entities from Cayman Island banking customers...