Wall Street Declares War on America (Yes, this constitutes Conspiracy!)

Oakland Mayor Jean Quan

Oakland Mayor Jean Quan Admits Cities Coordinated Crackdown on Occupy Movement

Embattled Oakland Mayor Jean Quan, speaking in an interview with the BBC (excerpted on The Takeaway radio program–audio of Quan starts at the 5:30 mark), casually mentioned that she was on a conference call with leaders of 18 US cities shortly before a wave of raids broke up Occupy Wall Street encampments across the country. “I was recently on a conference call with 18 cities across the country who had the same situation. . . .”

Mayor Quan then rambles about how she “spoke with protestors in my city” who professed an interest in “separating from anarchists,” implying that her police action was helping this somehow.

Interestingly, Quan then essentially advocates that occupiers move to private spaces, and specifically cites Zuccotti Park as an example:

In New York City, it’s interesting that the Wall Street movement is actually on a private park, so they’re not, again, in the public domain, and they’re not infringing on the public’s right to use a public park.

Many witnesses to the wave of government crackdowns on numerous #occupy encampments have been wondering aloud if the rapid succession was more than a coincidence; Jean Quan’s casual remark seems to clearly imply that it was.

Might it also be more than a coincidence that this succession of police raids started after President Obama left the US for an extended tour of the Pacific Rim?

Occupy Oakland

Apparently, Wall Street doesn’t believe in the First Amendment right to Freedom of Association:

In a side note: apparently the police tried to claim that it was protesters throwing tear gas grenades. They’re not even good liars.

Also, my nephew went there to observe the event. Good thing he went at the wrong time.

How corporations dodge taxes

(CBS News)
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 [another report claims U.S. companies are holding $1.2 trillion overseas] – 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 their businesses out of the country.

Companies searching out tax havens is nothing new: in the 80s and 90s there was an exodus to Bermuda and the Cayman Islands, where there are no taxes at all.

When President Obama threatened to clamp down on tax dodging, many companies decided to leave the Caribbean. But 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 call Zug.

The population of the town of Zug is 26,000; the number of companies in the area is 30,000 and growing at an average rate of 800 a year. But many are no more than mailboxes.

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 [Leslie] 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.

Stahl and “60 Minutes” decided to visit their operations in Zug.

A woman at the door told Stahl, “At the moment my boss is not here.”

She said her boss wasn’t there and we should call someone halfway around the world, in Houston.

“But this is the headquarters,” Stahl remarked.

“I know,” the woman said.

When asked if the CEO was there or is normally at the Zug office, the woman said “No.”

http://www.cbsnews.com/video/watch/?id=7360932n

US Uncut’s Tax-Dodging Protests Go Global

by Allison Kilkenny

The founder of US Uncut is ready to take the movement to the next level. Carl Gibson tells me he wants to help shape a simple piece of legislation to end overseas tax havens. Of course, his would not be the first attempt made at such an endeavor. In 2008, Carl Levin [1] crafted the Stop Tax Haven Abuse Act, legislation then-Senator Obama threw his support behind, and which has, like most bills that make sense, been floating in purgatory ever since.

Reportedly, Senator Levin’s chief investigator, Bob Roach, will present updates on the status of STHA during a session called “US Congressional Offshore Initiatives” at the 9th Annual OffshoreAlert Conference [2] in—why not?—South Beach, Florida April 4-6.

But in the meantime, Gibson, working in concert with the Roosevelt Institute’s Cornell chapter, is drafting a streamlined version of an anti–tax haven bill focusing on a clear message. “Mainly, that we’re losing out on upwards of $100 billion every year in lost revenue because of corporate tax dodging and overseas tax havens,” he says.

He hopes to have the bill ready by Tax Day [April 18 this year]. “This will be legislation that makes it illegal for corporations to move income earned within the United States offshore through corporate tax loopholes, so it would close loopholes and it would also force these companies who already have billions overseas to bring that money back to the United States and pay taxes on it.”

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