It is currently Mon Jul 28, 2014 3:39 pm

All times are UTC - 4 hours [ DST ]




Post new topic Reply to topic  [ 6 posts ] 
Author Message
 Post subject: Shell companies in Cayman Islands allow KBR to skirt US tax
PostPosted: Thu Mar 06, 2008 11:53 pm 
Offline
Moderator
Moderator
User avatar

Joined: Thu Aug 31, 2006 10:03 am
Posts: 1469
Location: Bible Belt, MS
Quote:
Top Iraq contractor skirts US taxes offshore

Shell companies in Cayman Islands allow KBR to avoid Medicare, Social Security deductions

By Farah Stockman
Globe Staff / March 6, 2008

CAYMAN ISLANDS - Kellogg Brown & Root, the nation's top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in this tropical tax haven.

When Texas pipe-fitter Danny Langford applied for unemployment compensation after being let go by Service Employers International Inc., he was rejected, he was told, because he worked for a foreign company.

LEFT IN THE LURCH

More than 21,000 people working for KBR in Iraq - including about 10,500 Americans - are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands.

The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies, and officials said the move allowed KBR to perform the work more cheaply, saving Defense dollars.

But the use of the loophole results in a significantly greater loss of revenue to the government as a whole, particularly to the Social Security and Medicare trust funds. And the creation of shell companies in places such as the Cayman Islands to avoid taxes has long been attacked by members of Congress...


More at the link.

http://www.boston.com/news/world/articl ... _offshore/

_________________
You can sing the praises of women all day long, but as long as you put a fertilized egg ahead of [their] welfare, you do not really care about them.-Dori 4/07


Top
 Profile  
 
 Post subject:
PostPosted: Fri Mar 07, 2008 2:20 am 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Mon Oct 29, 2007 11:37 pm
Posts: 1646
Location: Denver
Looks to be part of the plan to bankrupt America.

_________________
"If the people allow private banks to control their currency the banks and corporations will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson


Top
 Profile  
 
 Post subject:
PostPosted: Fri Mar 07, 2008 2:52 am 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Thu Sep 01, 2005 7:03 am
Posts: 844
Location: on the edge
I used to be a pipe fitter in Corpus Christi. in between assignments for Hughes Tool. :wink: :wink:

_________________
Look out kid, They keep it all hid.”
Bob Dylan “Subterranean Homesick Blues”


Top
 Profile  
 
 Post subject:
PostPosted: Fri Mar 07, 2008 3:01 am 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Mon Oct 29, 2007 11:37 pm
Posts: 1646
Location: Denver
Did Hughes become Raytheon?

There were four divisions to Hughes in the 80's.

_________________
"If the people allow private banks to control their currency the banks and corporations will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered." - Thomas Jefferson


Top
 Profile  
 
 Post subject:
PostPosted: Fri Mar 07, 2008 2:15 pm 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Thu Sep 01, 2005 7:03 am
Posts: 844
Location: on the edge
I worked for Hughes in the 70's. As I remember after that they broke down into Hughes Tool [drilling bits] BJ Hughes [oil well cementing] Hughes Aircraft [primarily helicopters] and Hughes Rubber [ down hole tools]. I was assigned to all divisions at one time or another and contracted out to other oil service companies depending on needs. Primary employer remained Hughes Tool International which now has become Baker Hughes International.
I do not know much about business I was a field agent. :wink:

TuT

Raytheon is a separate entity. My ' father' [supposed] was a weapons designer for Raytheon.

_________________
Look out kid, They keep it all hid.”
Bob Dylan “Subterranean Homesick Blues”


Top
 Profile  
 
 Post subject:
PostPosted: Sun May 04, 2008 3:33 am 
Offline
SuperMember!
SuperMember!
User avatar

Joined: Thu Jul 19, 2007 2:02 am
Posts: 1148
Location: Mill Valley, CA
My definition of KBR:

Kerb-crawlers
Black-marketers, &
Robbers

Contractors Gone Wild

Quote:
News: Theft, hookers, melting down Iraqi gold to make cowboy spurs—all in a day's work for private military contractors in Iraq?

By Bruce Falconer | May 2, 2008

Allegations of widespread mismanagement and corruption among private contractors in Iraq are nothing new; if anything, tales of cronyism, over-billing, and embezzlement have become so frequent that our national tolerance for them seems only to have increased as the Iraq War has drawn on. Even so, the testimony earlier this week of three whistleblowers before the Senate's Democratic Policy Committee (DPC) stands out for the sheer outrageousness of their accusations—namely that U.S. private contractors looted Iraqi palaces and ministries, stole military equipment, fenced supplies destined for U.S. troops, and even operated a prostitution ring that may have contributed to the death of fellow contractor. Yet despite its focus on such salacious matters as sex and corruption, the session earned little media attention.
...

What price victory?

_________________
Which way is up?

I haven't used this screen name elsewhere.


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 6 posts ] 

All times are UTC - 4 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Search for:
Jump to:  
cron
Blue Moon by Trent © 2007
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group