Setting Up a Shell Company In Panama, So Easy an Intern Can Do It
Public Citizen brings us this video explaining how easy it is to avoid paying taxes on your corporate income. The video was created to explain the impact on tax avoidance if the US signs on to the Panama Free Trade Agreement. Apparently the whole process is streamlined and secret in Panama (John McCain’s home country) and signing the agreement would give away leverage that we have to break Panama’s tax haven ways.
[youtube]http://www.youtube.com/watch?v=5jtsgDBL7Mc[/youtube]
Tags: Corporate America, economics, International
Perhaps you might want to look at the tens of thousands of companies headquartered in Delaware.
If they were not here, we would pay more taxes. A lot more taxes.
Mike Protack
Yes, so let’s have them go to the best legal place to incorporate. Those places pay taxes.
I swear Protack, when you blather things like this I wonder if you always remember to de-ice. Truly, this response is one of the more brain-dead things that you have typed… and that is saying something.
It is funny that all the “eyes” are now on Panama. Do you know who organized the banking industry in Panama back in the 70’s? A U.S. Democrat Senator: Rockefeller, in the times of Omar Torrijos! (according to articles I have read about Panama history). And that’s how the Panamanian banking industry works since then.