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Standing up against America: an army of mercenaries has enlisted to defend the Bermuda tax loophole. (The Taxonomist).

Publication: The American Prospect
Publication Date: 04-NOV-02
Format: Online
Delivery: Immediate Online Access
Full Article Title: Standing up against America: an army of mercenaries has enlisted to defend the Bermuda tax loophole. (The Taxonomist).(Brief Article)

Article Excerpt
EVERYBODY'S ANNOYED AT BIG AMERICAN CORPORATIONS that renounce their citizenship and move to Bermuda to avoid taxes. The public heat has forced even most Republican politicians to feign outrage. In recent months, PricewaterhouseCoopers Consulting abandoned its plan to incorporate in Bermuda, as did the Stanley Works, the poster child for unpatriotic corporate behavior. Who could defend this disreputable practice? Well, it turns out that quite a few people are weird enough, or have been paid enough, to have done so.

On Aug. 29, a collection of right-wing ideologues sent a letter of praise to House Ways and Means Chairman Bill Thomas (R-Calif.) for introducing legislation generally calling for more offshore tax abuses. But the group expressed...

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