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article imageOp-Ed: Offshore tax havens for wealthy, income tax for the rest?

By Mindy Allan     Aug 26, 2012 in Business
Average citizens of the United States have been dutifully paying their taxes, while wealthier Americans, have followed the lead of multinational mega-corporations, seeking tax havens to shelter their profits.
Even though the U.S. has one of the highest tax rates in the world, global mega-corporations don't pay the supposed 35% corporate tax, and some of the biggest like General Electric don't pay anything at all!
The war on middle-class America continues as jobs are being lost, and homes are being foreclosed on. Small business owners are following big corporations also moving their headquarters overseas
Warren Buffet calls himself one of the lucky ones
. For Buffet, its easy to say that when "Wells Fargo," a company he partially owns, has recorded its biggest reduction in taxes over the last three years.
A study in 2011 by advocacy group, Citizens for Tax Justice finds that in the last three years, over 20 of the United States' largest corporations paid little or no taxes. As it stands now corrupt governments aren't concerned about changing the loopholes in tax laws that continue to allow corporations to escape paying taxes, because they effectively own the governments.
The push to rid the world of the middle-class continues as more and more people lose their jobs and homes. Meanwhile the IRS looks the other way when it comes to corporations it continues the while assaulting the struggling middle-class , causing many distraught citizens to commit suicide, while losing their last dollar trying to defend themselves from a corrupt judicial system.
Tax loopholes were invented by the wealthy to exempt themselves from paying taxes.
Haven't you ever wondered how a business is surviving with high rent and no customers? That's where non-profits have been used for decades as a way for the wealthy to avoid taxes. Almost every top professional athlete in the world has a non-profit organization for this purpose. By the way, Africa is one of the easiest countries to set up a charity, because the money trail is hard to follow.
Now offshore havens have become the craze of more than just the "Smart Money" Why?
On "Today's Financial News" Bob Baubman, an expert on offshore banking and the creation of tax havens, gives an insight on places to put your hard earned money without being taxed to death.
Did you know that 53% of American taxpayer money goes to one cause? Have you ever wondered how taxpayer money gets divided among the various government agencies. Take a peek at this video which shows how your taxes are spent, and hopefully you will be inspired to research more.
Many Americans don't pay income tax because there wasn't a law ever written for them to do so.
Former IRS Agent Joseph R Banister who did not pay taxes, and presidential candidate Ron Paul discuss the illegality of the income tax on CNBC's Special Report.
Ron Paul was the only presidential candidate in 2012, who wanted to eliminate taxes. Here is what an investigative journalist found out about the income tax law.
Lecturing around the country, former IRS Agent Sherry Peel Jackson continues to inform the general public on what she believes is an injustice for the American people.
Here is more information about the "law that never was."
This opinion article was written by an independent writer. The opinions and views expressed herein are those of the author and are not necessarily intended to reflect those of
More about Tax havens, Money laundering, offshore banking, corporate tax evasion, Corporate corruption