Slouching Towards Oblivion

Monday, November 05, 2012

Romney The Dodger Extraordinaire

Not that it matters, but here's another clue as to how the big guys like Willard get (and stay) so big.

Via Radio Netherlands Worldwide:
The story goes like this: In 2004, Bain acquired the Irish pharmaceutical company Warner Chilcott, which was originally registered in Bermuda but moved to Ireland in 2009 to avoid President Obama’s crackdown on Bermuda’s lax tax rules.
Then two years ago, Bain registered its interest in Warner Chilcott with the private Dutch company Alter Domus, which provides administrative services for multinational corporations and investment funds. If a Dutch company owns more than five percent of the shares in another company, than that other company is exempt from paying taxes on all capital gains.

Through exemptions like that and a host of other complicated tax treaties, the Netherlands offers huge tax breaks to companies like Bain, which is reported to have evaded 80 million euros in dividend taxes by running through the Netherlands.
It's all "perfectly legal" of course, so Romney can skate on by.  Plus, the rubes believe the Gubmint is evil and so nothing you do to fuck over the Gubmint is wrong.  It's a variation on the rationale they use whenever any Repub gets caught in a lie.  He lied to the Librul Press. The Librul Press is evil.  Lying to an evil entity can't be wrong.  Wink wink; nudge nudge; say no more.

hat tip = Democratic Underground

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