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mnhtnbb

Profile Information

Gender: Female
Hometown: NYC
Home country: USA
Current location: Raleigh, NC
Member since: Sat May 7, 2005, 11:13 PM
Number of posts: 25,639

Journal Archives

River Running Through Ollantaytambo, Peru

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When It Comes to Corporate Tax Havens, Who Needs the Caymans---To Delaware, With Love

This article appearing in the Sunday Business Section of the NY Times is loaded with "I didn't know that" information.
Maybe I'm just clueless, but thought I'd share.

NOTHING about 1209 North Orange Street hints at the secrets inside.

<snip>

But behind its doors is one of the most remarkable corporate collections in the world: 1209 North Orange, you see, is the legal address of no fewer than 285,000 separate businesses.

<snip>

In these troubled economic times, when many states are desperate for tax dollars, Delaware stands out in sharp relief. The First State, land of DuPont, broiler chickens and, as it happens, Vice President Joseph R. Biden Jr., increasingly resembles a freewheeling offshore haven, right on America’s shores. Officials in other states complain that Delaware’s cozy corporate setup robs their states of billions of tax dollars. Officials in the Cayman Islands, a favorite Caribbean haunt of secretive hedge funds, say Delaware is today playing faster and looser than the offshore jurisdictions that raise hackles in Washington.

And international bodies, most recently the World Bank, are increasingly pointing fingers at the state.

<snip>

It is also a great place to reduce a tax bill. Delaware today regularly tops lists of domestic and foreign tax havens because it allows companies to lower their taxes in another state — for instance, the state in which they actually do business or have their headquarters — by shifting royalties and similar revenues to holding companies in Delaware, where they are not taxed. In tax circles, the arrangement is known as “the Delaware loophole.” Over the last decade, the Delaware loophole has enabled corporations to reduce the taxes paid to other states by an estimated $9.5 billion.



To read the entire article: http://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html?pagewanted=1&ref=business

Breaking down the NC Amendment 1 vote: interesting graphic

This is NOT an excuse, but being a resident of NC--Orange County where the vote AGAINST was almost 79%--it is interesting
to see via this graphic how many counties voted in the 40-50% AGAINST range. Higher turnout just MIGHT have made a difference.
We've seen the numbers: only about 20+% of eligible voters were able to successfully change the NC Constitution to incorporate
bigotry and a declaration of unequal rights that will, eventually, be overturned. It probably will take a decision from the US Supreme Court.

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Narrative from the creator of the map:

I created this graphic showing the 2012 vote results against Amendment One because I wanted to understand this beautiful and strange state of North Carolina.

One can easily observe that all of the major centers of education and economic development reflect an awareness of the immoral nature of this amendment and the potentially dire consequences.

I live on an island in Orange County, the only county with over 75% against Amendment 1. I'm personally surprised by the strong showing in Watauga and also Eastern NC. Dare County is the lone coastal county to bust 50%, though New Hanover County was close.

As an activist, a graphic artist and programmer (among other activities) I was compelled to share this information. I saw Jason Baker's original graphic, and utilized my research, statistics, and visual skills to dig a bit more deeply into the details. My additions include county lines and a couple more notations to denote counties that were close to the 40 and 50% lines.

Please share this and extend the Creative Commons license. This work is licensed under the Creative Commons Attribution-ShareAlike 3.0 Unported License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/3.0/ or send a letter to Creative Commons, 444 Castro Street, Suite 900, Mountain View, California, 94041, USA.
— with Kirk Ross, Ruby Sinreich and Jason Baker.

Voter Turnout is KEY --the NC Amendment Results

We had record primary turnout in NC today, but that record was only 34.37% of eligible voters. That's sad, very sad. The turnout when Obama took NC in 2008 was 70% and NC was among the states with the highest voter turnout in the country.

http://results.enr.clarityelections.com/NC/36596/80741/en/vt.html

These counties voted AGAINST the Amendment: Orange 78.9%, Durham 69.8%, Wake 56.8%, Mecklenburg 54%,Chatham 53.9%, Buncombe 51.5%, and Watauga 50.8%

With a larger turnout, it's just possible this thing could have been defeated.

Take a look at the statistics for voter turnout in NC, and it becomes clear (or do you really think it's a coincidence?) why this
Amendment was put on a PRIMARY ballot--when voter turnout is expected to be low. The people behind this Amendment definitely
knew what they were doing.

http://www.ncsbe.gov/content.aspx?ID=70

I listened to it--streaming live through the WH website (why no video?)

after watching the motorcade arrive on campus. Security had EVERYBODY blocked off
anywhere near the building and weren't even letting ticket holders in at noon. He was on fire.
Terrific speech. He said their student loans made them poor--when they got married--and their
payment was more than the mortgage payment on their first condo!

Here's a photo of the Presidential Limo--and I could see him inside as it passed by.

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