Brian Ladd’s Blog – Notes on Life

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National Healthcare

Thanks to Mark Levin, here is a compilation of the horrors of national healthcare.  For those of you who keep inisiting that national health care is a requirement that the government needs to provide everyone.

Background on problems caused by government intervention in the health care market.
PLEASE NOTE: THIS INCLUDES the UNITED STATES health care industry, which is HEAVILY regulated…with the usual results.

Worldwide Experiments in Socialism
Links, articles and figures detailing widespread and specific problems in countries with varying degrees of socialized health care.

  • Great Britain
  • Other European Countries
  • Canada
  • Former Union of Soviet Socialist Republics
  • Cuba
  • New Zealand
  • Australia
  • Americans Blindly Supporting More Government through so-called Universal Health Care
    Socialist health care system supporters often point to sky rocketing health insurance prices in the U.S. as a problem with a “capitalist” system. However, all of the pervasive problems within the U.S. health care system are a direct result of statism.

  • U.S. health care problems caused by government intervention
  • Economicsyes, it applies to health care, too
  • Straight from the Statist Guide Book…

  • What about those “40 million without health insurance”?
  • Why does “the U.S. spend such a high percentage of its GDP on health care”?
  • Great Britain
    Great Britain’s National Health Service (NHS) was created on July 5, 1948. As with all government programs, bureaucrats underestimated initial cost projections. First-year operating costs of NHS were 52 million pounds higher than original estimates1 as Britons saturated the so-called free system.Many decades of shortages, misery and suffering followed until 1989, when some market-based health care competition was reintroduced to the British citizens2.

    Unfortunately for those requiring care, a mostly socialist health care system has problems. The articles and commentaries in this section identify some disasters caused by government intervention in the British health care system.

    I also recommend reading David G. Green and Laura Casper’s economic report, Delay, Denial and Dilution: The Impact of NHS Rationing on Heart Disease and Cancer to see the inevitable outcome of the necessary rationing of government health care.

    Straight from the newspapers

    Other European Countries

    Parliament unanimously passed the Canada Health Act in 1984 and established a single-payer, publicly-financed health care system. To ensure a true government monopoly (is there any other kind?) Canadian provinces outlawed private health insurance. Chaoulli v. Quebec UPDATE (June 9, 2005): In a 4 to 3 decision, the Canadian Supreme Court struck down Quebec’s law that prohibits private medical insurance.

    U.S. Patients have Greater Access to Advanced Medical Technology Than Do Canadians

    Former Union of Soviet Socialist Republics

    The Cuban Government has implemented a two-tiered medical system (e.g. “medical apartheid”) that caters to foreign tourists while denying native Cubans access to basic medical necessities (at least it is “free” to them). This attempt to draw foreign dollars is one of many programs that were necessary once the Soviet subsidies ended in the early nineties.

    New Zealand
    New Zealand’s Ministry of Health is the New Zealand “Government’s principal agent and advisor on health and disability.”

    Australia’s universal health care scheme is relatively new (introduced in 1983, which built on the 1974 Medibank program). As with all socialized health care systems, there is a mixture of public versus private care (approximately 30% of Australians also retain private health insurance). As a result, the private patients receive better care than their medicare counterparts. The salary caps and artificial increase in demand for care that always occur in a national health care system are resulting in predictable physician shortages.

    U.S. health care problems caused by government intervention
    All of the pervasive problems within the U.S. health care system are a direct result of statism. Unfortunately, most Americans buy into the feel-good soundbites and look to the socialist utopia to provide answers, not understanding that additional government intervention always worsens the problems.Not even the so-called experts who villify capitalism understand the difference between Statism/socialism and liberty (see Dr. Arnold S. Relman’s For-Profit Health Care: Expensive, Inefficient and Inequitable, in which he refers to “HMOs that would be paid by the government” as “care under the private system”).

    Health care is a limited commodity- even if the statists ignore this fact.

    Footnotes [top]
    1 – M. Foot (1997). Aneurin Bevan: A Biography. New York: Atheneum. [Great Britain]
    2 – P. Day and R. Klein, “Britain’s Health Care Experiment,” Health Affairs, Fall 1991, pp. 39-59; and A. Enthoven, “Internal Market Reform of the British Health Service,” Health Affairs, Fall 1991, pp. 60-70. [Great Britain]


    July 2, 2009 Posted by | Politics, World News | Leave a comment

    Stimulus Checks and Obama Voters?

    Seems kinda funny how bureaucracy can inadvertently tell the truth without realizing it.  Seems I may have found the proof that there were too many voters in the election  of Obama.  Seems that some people are now getting stimulus checks who aren’t even eligible.  What would make them ineligible?  How about lack of life.  Yep.  Being dead.

    So dead people are receiving government stimulus checks.  And in at least one case, a person who died in Italy and was never eligible for Social Security received a check.

    And I can’t help but wonder if he voted for Obama, thanks probably to ACORN.   And the next logical question becomes how many others and which ones…

    Thousands of Americans are receiving federal stimulus checks in the mail, this week. Only problem: many of them are deceased.

    Recently, a Long Island, New York woman was shocked when she checked the mail and received a letter from the U.S. Treasury — but it wasn’t for her.

    Antoniette Santopadre of Valley Stream was expecting a $250 stimulus check. But when her son finally opened it, they saw that the check was made out to her father, Romolo Romonini, who died in Italy 34 years ago.

    Romonini was a U.S. citizen when he left for Italy in 1933, but only returned to the U.S. for a seven-month visit in 1969.

    The Santopadres are not alone. The Social Security Administration, which sent out 52 million checks, said some of those checks mistakenly went to dead people because the agency had no record of their death. That amounts to between 8,000 and 10,000 checks for millions of dollars.

    The feds blame a rushed schedule, because all the checks have to be cut by June. But strangely, some of the checks were made out to people — like Romonini — who were never even part of the Social Security system.

    May 15, 2009 Posted by | Politics, World News | Leave a comment

    Green Scam – Windmills

    I saw this on Slashdot and found it funny.  The return on the investment for the windmills was not able to produce enough energy to pay for themselves, let alone power a few homes.  So after proving that small windmills are not able to be cost effective, I can’t help but wonder how long it will be before we start seeing them everywhere.

    “A real-world test by the Dutch province of Zeeland (a very windy place) demonstrates that small windmills are a fundamentally flawed technology (PDF of tests results in Dutch, English summary). Twelve much-hyped micro wind turbines were placed in a row on an open plain. Their energy yield was measured over a period of one year (April 1, 2008 — March 31, 2009), the average wind velocity during these 12 months was 3.8 meters per second, slightly higher than average. Three windmills broke. The others recorded ridiculously low yields, in spite of the optimal conditions. It would take up to 141 small windmills to power an average American household entirely using wind energy, for a total cost of 780,000 dollars. The test results show clearly that energy return is closely tied to rotor diameter, and that the design of the windmill hardly matters.”

    April 20, 2009 Posted by | World News | Leave a comment

    PETA Killed 95 Percent of Adoptable Pets in its Care During 2008

    Hypocritical Animal Rights Group’s 2008 Disclosures Bring Pet Death Toll To 21,339
    WASHINGTON DC – Today the nonprofit Center for Consumer Freedom (CCF) published documents online showing that People for the Ethical Treatment of Animals (PETA) killed 95 percent of the adoptable pets in its care during 2008. Despite years of public outrage over its euthanasia program, the animal rights group kills an average of 5.8 pets every day at its Norfolk, VA headquarters.

    According to public records from the Virginia Department of Agriculture and Consumer Services, PETA killed 2,124 pets last year and placed only seven in adoptive homes. Since 1998, a total of 21,339 dogs and cats have died at the hands of PETA workers.

    Despite having a $32 million budget, PETA does not operate an adoption shelter. PETA employees make no discernible effort to find homes for the thousands of pets they kill every year. Last year, the Center for Consumer Freedom petitioned Virginia’s State Veterinarian to reclassify PETA as a slaughterhouse.

    CCF Research Director David Martosko said: “PETA hasn’t slowed down its hypocritical killing machine one bit, but it keeps browbeating the rest of society with a phony ‘animal rights’ message. What about the rights of the thousands of dogs, cats, puppies, and kittens that die in PETA’s headquarters building?”

    Martosko added: “Since killing pets is A-OK with PETA, why should anyone listen to their demands about eating meat, using lab rats for medical research, or taking children to the circus?”

    CCF obtained PETA’s “Animal Record” filings since 1998 from the Virginia Department of Agriculture and Consumer Services. Members of the public can see these documents at

    In addition to exposing PETA’s hypocritical record of killing defenseless animals, the Center for Consumer Freedom has publicized the animal rights group’s ties to violent activists, and shed light on its aggressive message-marketing to children.

    The Center for Consumer Freedom is a nonprofit coalition supported by restaurants, food companies, and consumers, working together to promote personal responsibility and protect consumer choices. For media comment, contact our media department at 202-463-7112 ext. 115

    March 30, 2009 Posted by | Politics, World News | 2 Comments

    Green Scam 2

    OK, so a couple of days after my first post on the Green Scam I find the following  articles:
    Heaviest Snow in 18 Years Brings Much of Europe to a Halt

    and the forecast from February 4,2009:

    Chill all the way to Florida
    Tom Moore, Sr. Meteorologist, The Weather Channel
    Feb. 3, 2009 8:42 pm ET
    In the wake of the southern New England snow and wind event, the Northeast will be left with scattered snow showers on Wednesday. A weak storm system over North Carolina by Wednesday morning may send some snow over the lower Chesapeake Bay and the southern Del-Mar-VA Peninsula. Wind chills will be low with temperatures forecast to range from the mid-teens in areas near the Canadian border to the upper 30s in south-central Virginia.
    Much of the Midwest will be quite cold and windy on Wednesday with scattered snow showers extending from the Great Lakes southward into eastern Kentucky and the central Appalachians.  Lake-effect snow will continue overnight across portions of northern Indiana just south of Lake Michigan. Several more inches are likely to fall. This activity will gradually diminish by morning. Gusty southerly winds on the Great Plains will drive temperatures up to near or above average. High temperatures will range from the single digits on parts of Michigan’s U.P. to the low 60s in far western Kansas.
    An Arctic cold front will sweep down through Florida on Wednesday leading to a very cold Wednesday night. Light snow will continue across the southern Appalachians through Wednesday. Some overnight and early morning snow, with light accumulations are likely in the Raleigh, N.C., to the Norfolk, Va., corridor. Above average temperatures will prevail across the southern Plains and Texas, however. Highs will range from the mid- and 20s in central and eastern Tennessee and the southern Appalachians to the mid-70s in extreme southern Texas.
    High pressure aloft will hang on for another day across the West. The result will be dry conditions. All of that will change by Thursday as a storm system pushes into California. The parched state will at least see some much needed rain into Saturday. High temperatures range from the 20s in the northern Washington Cascades and Glacier National Park to the low 80s in parts of Southern California and southwest Arizona.

    There have been a lot of stories this winter about how cold it is.  And there is one on how sunny Florida is expected to have record cold.  Many other places are having a record cold this year too.  Has anyone informed Al Gore or the rest of the eco-scammers?  Oh, that’s right, they’ve started changing their ritualistic religious mantra.  The  environmental scammers have started calling the scam “climate change” in stead of “global warming”.  Le’s look at that for a second, shall we?  What is “climate change”?  Wouldn’t the yearly season changes of spring, summer, fall, and winter, qualify as a “climate change”?   I think it would.  Don’t believe me, grab a dictionary and start reading.  Look up the definitions of the words climate and change.  These people like to redefine things to fit their needs.  But the twisting of the English language and misuse of wording is another rant for another time.

    Here are some of the things that these people don’t take into account when they start their “climate change” scam conversations:

    • What are the Earth’s weather and climate trends for the last 500 years?  How about 1,000, years?  5,000 years? or 10,000 years?  We don’t have a clue.  Why, because the ancient Romans, Egyptians, Mayan or any other ancient culture didn’t keep records.  But these scammers would have us believe that their predictions for the next 20 to 50 years are absolutely correct even though they have no clue about what long term cycles the Earth’s climate may have.

    Enough ranting about the Green scam for now.  I’ll just leave these links here for those that are interested in additional information.

    Freezing Temperatures Follow Al Gore to Harvard!

    More Inconvenient Truths for Al Gore and the rest of the enviro-scammers.,05394.cfm

    February 4, 2009 Posted by | Funny / Humorous, Politics, World News | Leave a comment

    Democrat Empty Suits

    OK, I know I’ve been ranting a bit lately about politics and other stuff, but it has really been irritating the hell out of me.  I was never that into what happened politically until recently.  I think the 2008 Presidential Elections and the media circus leading up to it got me interested in what happens in politics.  So I saw this today and can’t help wondering if this rare glimpse into the workings of the Democrat party aren’t more revealing than the original author intended.  Let’s look for a moment.  We have a Democrat Congressman admitting to a liberal radio talk show that he and other elected representatives are actively encouraged to just vote on legislation without reading it.  He admits to being told how to vote by senior Democrat leaders.

    Holy crap.

    If this is actually the case, and I think it is, then why bother to even have this empty suit in the Congress?  He serves no purpose other than to fool the people that he is supposed to represent into believing that their votes matter.  To fool the people of his district into the false assumption that they are being counted for in American politics should be considered criminally fraudulent.  But he’s a democrat so this story will be completely ignored by the mainstream media.   One thing that the 2008 Presidential Elections proved to the entire world:  the American media is corrupt, incompetent and lazy.  But I’ve already made that rant.

    Democrat: Obama Team ‘Encouraged’ Defiance of Pelosi on Stimulus

    A conservative Democrat who voted against the House stimulus package says President Obama quietly encouraged him to oppose
    the “messy bill.”

    Rep. Jim Cooper, a conservative Democrat from Tennessee, told a liberal radio network on Monday that the Obama White House
    encouraged him to defy House Speaker Nancy Pelosi on the $819 billion economic stimulus bill.

    I probably shouldn’t tell you this, but I actually got some quiet
    encouragement from the Obama folks for what I’m doing,” said Cooper,
    one of only 11 Democrats to vote against the economic stimulus plan
    that passed the House last week.

    “They know it’s a messy bill
    and they wanted a clean bill,” he said. “Now, I got in terrible trouble with our leadership because they don’t care what’s
    in the bill, they just want it to pass and they want it to be unanimous.”

    whose startling admission came on Liberadio, was one of about 55 House
    Democrats to sign a letter criticizing Pelosi for suspending debate and
    committee rules on the fiscal package, reported.

    “They don’t
    mind the partisan fighting cause that’s what they are used to. In fact,
    they’re really good at it — and they’re a little bit worried about
    what a post-partisan future might look like,” Cooper said during the
    radio interview. “If members actually had to read the bills and figure
    out whether they are any good or not. We’re just told how to vote.
    We’re treated like mushrooms most of the time.”

    An early supporter of President
    Obama, Cooper is a member of the fiscally conservative Blue Dog Coalition of Democrats.

    February 4, 2009 Posted by | Politics, World News | 1 Comment

    The Green Scam

    I don’t even  know where to begin on this one.  There is so much to cover and I have too many things to say about it.  So I’ll just plunge in and do the best I can.

    Global warming, “going green”, green energy, green cars, green businesses, green eggs and spam, green whatever!

    Green SCAM!!!

    For crying out loud people, get your heads out of Al Gore’s butt and think for your self!   I can’t stand it.

    carbon offsets.   What the hell is a carbon offset?  I’m supposed to pay money to offset the amount of carbon that I use? And how is that calculated? By my astrological sign I assume? Makes about as much sense as any other possible explanation.  What does that money do for the environment?   Does this mythical carbon offset credit actually change the amount of carbon on the planet or does it just line some environmentalist hippie’s  pocket so that he can by more weed and complain about how the earth needs everyone’s help but his?.  I’m leaning toward the hippie’s pocket theory myself.  Ok, lets think about this for a few minutes shall we?

    BANG! I just had a realization. Astrology and global warming are the same thing!!! Both are psudo-science junk that has been continually proven to be without merit or scientifically provable foundations.  Now back to my previously scheduled rant.

    I saw this one on Drudge Report today and had to rage about this one for a while.

    Here is one of my favorite parts:
    Your work on atmospheric chlorofluorocarbons led eventually to a global CFC ban that saved us from ozone-layer depletion. Do we have time to do a similar thing with carbon emissions to save ourselves from climate change?

    Not a hope in hell. Most of the “green” stuff is verging on a gigantic scam. Carbon trading, with its huge government subsidies, is just what finance and industry wanted. It’s not going to do a damn thing about climate change, but it’ll make a lot of money for a lot of people and postpone the moment of reckoning.

    What’s this!  Even an environmentalist has noticed the scam.  Shocking I tell you.  And have you ever noticed that the celebrities that make the most noise about saving the environment fall into one of two categories?  Either they are some of the biggest threats to the enviroment, or they are out to make as much money as possible from spreading the Green Scam.  Here’s some things to look at:

    So, could someone explain to me how having so many cars and private jets helps the environment?  I’m really supposed to take advice on how I need to recycle from someone who is that far removed from the reality of day to day life.    But my view of celebrities and their crimes against humanity are another rant all together.   I guess that is enough ranting for today.   But before I finish, here is some further reading for anyone who wishes to actually educate themselves:

    35 Inconvenient Truths

    Mr. Gore: Apology Accepted

    Just do some searching via your favorite search engine:

    February 2, 2009 Posted by | Politics, World News | Leave a comment

    While nobody is looking…

    During the inauguration of the United States of America’s 44th President Barrack Obama, while no one is looking and the media is flooded with coverage of the event and every possible detail, the Washington Post decides to publish this article about a massive data breach where millions of credit card transactions may have been compromised.  Why post this during the inauguration?  Couldn’t they have posted this the day after so that other news agencies and media outlets could pickup the story and get the word out that the compromise of a credit card processing company had happened?

    Well, the short version is Heartland Payment Systems was infected with a sniffer application on their network and had millions of transaction recorded.
    “Brian Krebs over at the Washington Post just published a story that Heartland Payment Systems disclosed what may be the largest data breach in history. Today. During the inauguration. Heartland processes over 100 million transactions a month, mostly from small to medium-sized businesses, and doesn’t know how many cards were compromised. The breach was discovered after tracing fraud in the system back to Heartland, and involved malicious software snooping their internal network. I’ve written some additional analysis on this and similar breaches. It’s interesting that the biggest breaches now involve attacks installing malicious software to sniff data — including TJX, Hannaford, Cardsystems, and now Heartland Payment Systems.”

    January 21, 2009 Posted by | General Computer Tech, Politics, Security, World News | Leave a comment

    Journalism is dead and the journalist are starting to notice…

    Journalism is dead and the journalist are starting to notice… Obama and the journalists that are in bed with him are starting to scare the other journalists. I find it kinda funny. Many conservative talk show hosts such as Levin, Rush and Hannity have been talking about the mass media and their bias for Obama for months now and finally other ‘journalist’ are noticing. I’m can’t help but wonder how much longer this media love of Obama can last.

    Sun-Times: Journalists Being Shut Out by Obama

    According to Sun-Times columnist and long-time Chicago journalist, Carol Marin, journalists at Barack Obama news conferences have come to realize that Obama has pre-picked those journalists whom he will allow to ask him questions at the conference and many of them now “don’t even bother raising” their hands to be called upon.

    One wonders why journalists are allowing this corralling of the press? Would they have allowed George W. Bush to pre-pick journalists like that? Would they meekly sit by and allow themselves to be systematically ignored, their freedom to ask questions silenced by any Republican? Would journalists so eagerly vie with one another for the favor of Bush like they are Obama’s?

    For her part, it seems that Carol Marin is starting to wonder at the “bizarro world” that is being invented by the pliant and smitten Obama loving press corps.

    As ferociously as we march like villagers with torches against Blagojevich, we have been, in the true spirit of the Bizarro universe, the polar opposite with the president-elect. Deferential, eager to please, prepared to keep a careful distance.

    The Obama news conferences tell that story, making one yearn for the return of the always-irritating Sam Donaldson to awaken the slumbering press to the notion that decorum isn’t all it’s cracked up to be.

    The press corps, most of us, don’t even bother raising our hands any more to ask questions because Obama always has before him a list of correspondents who’ve been advised they will be called upon that day.

    Will the rest of the press retake their manhood and again become the tough guys they have always claimed to be or are they going to stay so smitten by Obama and their love for The One that they will allow themselves to continue being forced into a subservient role?

    One has a sinking suspicion that the press is allowing itself to become Obama’s lapdog extraordinaire.

    January 14, 2009 Posted by | Politics, World News | Leave a comment

    Microsoft to hide Irish Tax Haven data of subsidiaries that have saved it billions of dollars in US taxes

    I can’t help but wonder if our new President Barrack Obama would keep his promise of making US corporations keep jobs in this country after reading this article.  While the article is not really about job, it does speak volumes about Microsoft’s business practices when they use Ireland as a way to dodge US taxes and remove millions of dollars from the US economy.  Between the contemptible thieves of Wall Street and the horrendous leadership that allowed the Fannie Mae and Freddie Mac disasters to happen, I can’t be too surprised to discover this one.  And the next logical question that comes to mind is:  How can I pull this off?  Could I somehow hide my earnings from US tax interest by moving it off shore to some other location.  I’m sure there probably is, but I just don’t make enough money yet to get away with it.

    US software giant Microsoft has taken steps to shield from the public, the value of Tax Haven transactions of two Irish-registered subsidiaries that have enabled it to save billions of dollars in US taxes.

    Ha’penny Bridge, Dublin – Microsoft’s Round Island One is Ireland’s biggest company. It operates from the offices of corporate lawyers and reported  €3.23 billion ($3.88 billion) in fiscal 2004 pretax profit and paid $308 million in Irish corporate tax.

    The company applied to the Irish Companies Office on Monday to re-register its Round Island One and Flat Island Company subsidiaries as companies with unlimited liability. Unlimited companies have no obligation to file their accounts publicly. The two companies operate from the Dublin offices of corporate lawyers Matheson Ormsby Prentice.

    The move to change the legal status of the subsidiaries follows a November 2005 report in The Wall Street Journal and weeks after the US Treasury Department said it was developing new rules to prevent US groups transferring intellectual property and patents abroad as a way of minimising their exposure to US tax.

    Last November, The Wall Street Journal wrote that “a law firm’s office on a quiet downtown street [in Dublin, Ireland ] houses an obscure subsidiary of Microsoft Corp. that helps the computer giant shave at least $500 million from its annual tax bill. The four-year-old subsidiary, Round Island One Ltd., has a thin roster of employees but controls more than $16 billion in Microsoft assets. Virtually unknown in Ireland, on paper it has quickly become one of the country’s biggest companies, with gross profits of nearly $9 billion in 2004.”

    Flat Island Company made a profit of $802.4 million in 2004 on sales of $2 billion, but paid no tax. It issues licences for software in Europe, the Middle East and Africa.

    Ireland’s low corporate tax rate of 12.5% on trading profits has been a magnet for multinational companies who are responsible for 90% of Irish exports and a significant contributor to the success of the modern Irish economy, commonly known as the Celtic Tiger.

    In addition, an Irish tax exemption on patent income, has promoted the parking of US multinational company overseas profits in Ireland, through transfer pricing and other accounting measures. Ireland is the most profitable location of US multinationals and in the period 1998-2002, the profits of US companies with Irish facilities doubled.

    Ireland’s annual corporate tax revenue is about €5.3 billion ($6.3 billion). The Wall Street Journal said in its report that a Microsoft Dublin-based company that is used for routing patent a royalty income from overseas operations, paid the Irish Revenue $300 million in taxes last year.

    Up to 50% of Irish corporate tax revenue may relate to taxes paid on income earned by US multinationals outside Ireland.

    Microsoft’s effective global tax rate fell to 26 percent in its last fiscal year from 33 percent the year before. Nearly half of the drop was attributed to “foreign earnings taxed at lower rates,” Microsoft said in a Securities and Exchange Commission August filing. Microsoft leaves much of its profit in Ireland, including $4.1 billion in cash, avoiding U.S. corporate income taxes. But it still can count this profit in its earnings.

    Microsoft did not explain why it chose to re-register the two subsidiaries when questioned about the move. “As part of our strategy to facilitate and support future business growth, Microsoft is re-organising some of its legal entities within the group,” it said in a statement to The Irish Times. “Microsoft Ireland Operations Limited (MIOL) is the primary operating legal entity in Ireland, employing over 1,200 people in four operations based in Sandyford. MIOL remains unaffected by any changes and will continue to publicly file its financial statements.”


    Ireland is the world’s most profitable country for US corporations, according to analysis by US tax journal Tax Notes. In a study by the journal’s Martin Sullivan that was published in 2004, it was found that profits made by US companies in Ireland doubled between 1999 and 2002 from $13.4 billion to $26.8 billion, while profits in most of the rest of Europe fell. In his analysis Sullivan termed Ireland a ‘semi-tax haven’ for US firms, because firms are involved in real productivity in contrast with locations such as Bermuda.

    Between 1999 to 2002, US multinational corporations increased profits in countries with no taxes or low rates by 68% while sharply reducing profits recorded in countries where they engage in substantial business activity, the study published in the journal Tax Notes shows.

    In 2002, US companies reported $149 billion of profits in 18 tax-haven countries, up 68% from $88 billion in 1999, according to Tax Notes, which analyzed the most recently available Commerce Department data. This compares with a 23% increase in total offshore profits earned by US multinationals during the same period-total profits of US multinationals’ foreign subsidiaries around the world stood at $255 billion in 2002.

    January 1, 2009 Posted by | Copyright / P2P / Law, General Computer Tech, Windows / Microsoft, World News | Leave a comment