Should American businesses reincorporated offshore to avoid taxes be allowed to sell products or services to local, state or federal agencies?
Hell no.
Yet the Homeland Security Bill approved this week by Congress lets the department secretary patronize such scofflaws to save money or prevent loss of American jobs.
Any American corporation can open a small office in Bermuda or some other tax-free island, pay a nominal incorporation fee and then avoid thousands, millions and even billions of dollars in taxes.
Leaving individuals and small businesses in the United States to foot the bill for tax-supported services—including homeland security—at local, state and national levels.
Forget the billions of dollars in losses suffered recently by employees, stockholders and customers of criminal corporations.
The biggest corporate rip-off is the offshore loophole. Close it. (24 NOVEMBER 2002)
