John Kerry Calls for Crack Down on Corporations That Avoid Taxes

[Pez]

Calls for legislation to Ensure No Government Contracts Go To Evaders

October 24, 2003
Exeter, NH -

<snip>

John Kerry said, “We need the courage to stand up to unpatriotic companies that incorporate overseas to avoid taxes here at home. Middle class Americans are having a harder time in this economy. And I say it’s long since time that powerful corporations paid their fair share.

<snap>

“If I am elected President, I will close the loopholes that let these corporate Benedict Arnolds’ turn their back on America in order to make a fast buck. And I will be introducing new laws to stop companies that mistreat their workers from getting government contracts. I say to these companies: when I am president you’ll only get a government contract in this country if you are good to your workers.

“We need to send a clear message to the American people that we favor those who are doing the right thing over those who are doing wrong to their employees, their companies, and their country.”

<snippy>

Too Many Corporations Are Avoiding Responsibility

-Corporations Are Avoiding Paying Billions of Dollars in Taxes... more

-These Corporations Are Still Getting Lucrative Government Contracts... more

Put an End to Corporate Expatriation

It is becoming all too common for corporations to profit by renouncing their U.S. citizenship and setting up shell headquarters in foreign countries to avoid paying U.S. taxes. These companies otherwise continue to operate in the U.S. but shirk their responsibilities as corporate citizens. Four companies estimate tax savings of $525 million a year merely by incorporating in Bermuda. It is estimated that corporate expatriates will drain our federal treasury of an estimated $4 billion over the next decade.

Kerry has already supported legislation to close the loopholes which corporations have unfairly exploited to avoid paying U.S. taxes. Kerry believes that we should treat expatriating U.S. companies as U.S. corporations if former shareholders retain more than 80 percent ownership of the new nominally foreign corporation. Enron had about 800 partnerships to shield their dealings.

What Could $525 Million from Four Companies Buy?
-After-school for tens of thousands of kids
-Wounded Soldiers would not have to pay for their own meals.
-We can help revive manufacturing by doubling Manufacturing Extension Program

New Legislation to Prohibit Awarding Government Contracts to Unpatriotic Corporations more

Other Steps to Improve Corporate Responsibility

Restore Investor Confidence With Strong Enforcement by the Securities and Exchange Commission. John Kerry will provide sufficient funding for the SEC and ensure regulations are enforced.

Assure Corporations Account for Disparities on the Books. A recent Joint Committee on Taxation report found that Enron claimed a $2.3 billion in profit between 1996 and 1999 in reports to its investors, while reporting a $3 billion tax loss to the IRS. John Kerry believes corporations should have to account these kinds of disparities.

End Unfair Protections for CEOs. Executives should not be walking away with millions of dollars in salaries and benefits while their workers are laid off their companies are defaulting on loans. Kerry would tighten the laws that allow corporations to take advantage of tax deductions for performance based executive pay – even when executives do nothing to improve productivity.

[revcarol]

1. Did he stop Mass. corporations from going offshore....???

In a state where he has the most pull next to Kennedy, did he stop big corporations from going offshore? I think not.All he would have had to do is pull a Bernie Sanders: have a town meeting about this, like Bernie did about IBM in Vermont trying to change pensions from defined benefit to contribution only.

He's trying to run away from the DLC a little bit, but not enough to annoy those $2,000 a plate donors.

[Feanorcurufinwe]

5. Sniping and off-topic criticisms won't turn this from a good idea to a bad

Are you opposed to these proposals? Does your candidate have a better plan? Does your candidate have ANY plan? Or just a lot of feel-good platitudes?

[blm]

12. He's been pushing this for years, revcarol.

He has always pushed Small Business over corporate concerns. In fact he lobbied Congress himself to portion a large chunk of the government's business to go to small businesses OVER the usual corporations.

It's sad that few people are aware of this side of John Kerry, who has also been a longtime advocate (since 85) of public financing of campaigns. He and Wellstone wrote some legislation on public financing and were roundly ignored.

[Andy_Stephenson]

2. Did John Kerry vote for NAFTA?

I would really like to know.

[Feanorcurufinwe]

7. Kerry worked to make NAFTA better with the Kerry amendment.

Which did not pass. Kerry did end up voting for NAFTA however.

What about Dean? What was his position on NAFTA?

Dean also took issue with a characterization by a TV interviewer that he had been a "strong supporter" of NAFTA, the 1994 North American Free Trade Agreement. Dean acknowledged that he had supported NAFTA, but took exception to the "strong" part. "I never did anything about it," he said. "I didn't vote on it. I didn't march down in the street demanding NAFTA. I simply wrote a letter (to President Clinton) supporting NAFTA."

The Gephardt campaign subsequently called attention to a transcript of a Jan. 29, 1995 "This Week" show in which Dean told a different interviewer that "I was a very strong supporter of NAFTA."
http://www.n-jcenter.com/NewsJournalOnline/News/Politics/NationWorld/03LegislaturePOL03091503.htm

Hmm, I guess Dean's position changes depending on which way the political wind is blowing.

[DrFunkenstein]

16. The Kerry Amendment To NAFTA

(Nader-founded) Public Citizen:

"The amendment was a modest reform that guaranteed much-needed changes in the NAFTA Chapter 11 investment model in future trade agreements.

Under the model, foreign investors may file a claim in secret NAFTA tribunals to seek compensation when government public interest regulations in any way diminish the value of their investment.

In doing so, the amendment would have instructed U.S. trade negotiators to ensure that future investor provisions do not grant foreign investors rights beyond what the U.S. Constitution provides."

http://action.citizen.org/pc/issues/votes/?votenum=121&chamber=S&congress=1072

The Kerry Amendment to the Baucus-Grassley fast-track trade bill would have limited expansion of NAFTA-style corporate lawsuits to more countries.

Under NAFTA, foreign corporations gained broad powers to sue US taxpayers for financial damages if our environmental, health, or land protection laws interfere with their businesses.

The Kerry Amendment would have ensured that foreign investors have no greater rights than US citizens under the US Constitution.

http://www.sierraclub.org/votewatch/2002/kerry.asp

WASHINGTON - May 21 - Friends of the Earth expressed disappointment in the loss of an amendment to trade legislation that would have protected environmental standards from foreign investor lawsuits. The amendment, offered by Sen. John Kerry, sought to address concerns with investment rules like NAFTA's Chapter 11 that allow foreign corporations to bring suits against environmental laws and regulations.

"By voting against the Kerry amendment, the Senate has paved the way for more backdoor corporate assaults on laws that protect our air, water and land," said David Waskow, Friends of the Earth's trade policy coordinator. "The Senate should be protecting the health and safety of Americans, not watching the backs of wealthy polluters who make big campaign contributions."

http://www.commondreams.org/news2002/0521-13.htm

"The current Fast Track bill is an environmental nightmare," said Carroll Muffett, director of international programs for Defenders of Wildlife. "The Kerry Amendment would have fixed one of the biggest problems with it. Without Kerry, Fast Track is just a license for unchecked environmental destruction."

http://www.charitywire.com/charity51/03074.html

Unlike the amendment sponsored by Sen. John Kerry, the Baucus-Grassley Amendment does not set the U.S. Constitution as the benchmark for the scope of property rights available to foreign investors in the United States.

The Kerry Amendment would repair the investment model of NAFTA. Under the Kerry Amendment, a foreign investor would be required to demonstrate that the policy in question was enacted primarily with discriminatory intent against foreign investors or investments.

The Kerry Amendment is based on U.S. Supreme Court rulings on expropriation in that it would guarantee that future trade agreements improve upon the NAFTA model and restrict such investment protection actions to only those cases where government action causes a physical invasion of property or the denial of all economic or productive use of that property.

http://www.commondreams.org/news2002/0515-04.htm

Dear (Decision Maker),

I am writing to ask you to support the Kerry Amendment to FAST TRACK. The Baucus-Grassley Trade Bill is not good enough. I would appreciate your support for this amendment. Specifically, the amendment will:

1. Ensure that foreign investors don't get greater rights than US citizens or investors. We need to make sure that the US Constitution is the benchmark for investor treatment.

2. Clarify the definition of expropriation in future trade deals to conform with the US Constitution and recent US Supreme Court rulings.

3. Protect US laws on public health, safety and the environment from attack by investor-state lawsuits.

4. Ensures that minimum treatment under international law is defined in a way that follows the US Constitution. We don't want to follow that of some other country.

5. Require diplomatic check. Before a corporation could go into one of the secret trade tribunals to sue for taxpayer compensation (avoiding the domestic court system), they should have to check in with their own government.

This amendment will be voted upon soon. I urge you to vote for it and keep the problems that are already happening with NAFTA Chapter 11 from happening under future trade agreements.

Sincerely,
Your Name
Your Address

http://www.unionvoice.org/alert-description.tcl?alert_id=2005

<>

[FloridaPat]

3. He's going after $525 million while $87 billion goes to

Halliburton. Just wait until the campaign contributions from the Iraqi corporations start pouring into the republican coffers next year - if they haven't started already.

Actually I like the idea of the corporations going to the Bahamas. I am trying to set up a business on the internet that allows me to have an income overseas so I can do the same thing. No luck so far, but it's something to look forward to. However, I will be moving to the Bahamas if Bush is re-elected with my corporation.

[Feanorcurufinwe]

6. Perhaps you are just uninformed.

But Kerry didn't vote for that $87 billion.

Umm -- did you say you like the idea of corporations moving offshore? OK.

[Abe Linkman]

4. Day late and a billion dollars short

Why now, Senator Kerry? Why didn't you do something to prevent the problem from happening? You've been in the Senate for a long time. You knew or should have known about the problems caused by your unpatriotic supporters in corporate America.

[Feanorcurufinwe]

8. Uninformed criticism won't make our country or party any stronger.

Despite your efforts to malign and smear Senator Kerry, his voting record in the Senate is one to be proud of. While Kerry was fighting for his constituents in the Senate Howard Dean was inviting foreign-owned factory farms into Vermont and then telling the affected residents "This isn’t my problem".

[DJcairo]

9. Dude-Kerry single handedly brought down BCCI

He fought for the Kerry amendment to NAFTA. One Senator cannot simply control all the levers of tax policy. Kerry has fought for his beliefs in this regard to the extent one Senator can. What the hell was Dean doing? He's a big supporter of NAFTA. His tenure in Vermont was notable for it's pro-business at any cost outlook.

Kerry has had real successes in this regard but you all are too jealous to admit that a candidate with a record of success, a policy and a plan to get it done is inferior to a no-neck witha lot of money.

[Octafish]

11. Sen. Kerry fought to expose the BFEE and their offshore money laundering..

You must not know Sen. Kerry officially investigated this problem in the mid-1980s and early 1990s. In doing so, he turned up evidence that Ollie North and the Iran-Contra operators working out of the Reagan-Bush White House were doing business with terrorists and drug smugglers. Using BCCI around the world (and Nugan Hand Bank in Australia, for another) they moved their money offshore and from their put it into bank accounts in Switzerland and paid off terrorists of all political persuasions around the the world — from Iran to Panama. For his trouble, Ollie the gap-toothed traitor sicced the FBI's crack counterterror squad on Kerry. How much help did Sen. Kerry get in taking this investigation to the next level? Almost zero, from either party or any branch of government. The corruption is that widespread. Or haven't you noticed?

CIA Drugs: The Record Ignored

- by Joe Horman , October 22, 1996

In their rush to mask the crimes of government and CIA officials, the LA Times and Washington Post predictably omitted salient and persuasive evidence that clearly supports the findings of the San Jose Mercury News that the CIA's contra army smuggled tons of cocaine into the United States. What follows are some of the published reports, congressional findings and testimony all of which, when taken in their entirety, amount to a preponderance of both direct and circumstantial evidence that persuasively support the central contentions.

UNITED STATES SENATE SUBCOMMITTEE FINDINGS.

That investigation, directed by Sen. John Kerry, D-Mass., established that the administration gave contra-supply contracts to four companies that were either under indictment for drug trafficking or listed as suspected smugglers in law enforcement computers. Kerry's probe also confirmed that pilots used for contra arms flights carried cocaine into the United States as well as guns to Central America. And Kerry found that drug kingpins had contributed heavily to the contra cause, in hopes of gaining favor with Washington.

IRAN CONTRA SWORN TESTIMONY

The Iran-contra testimony of CIA officer Alan Fiers, "with respect to the Resistance Forces it is not a couple of people. It is a lot of people." Friers was the CIA's Central-American Station Chief and contra coordinator.

OFFICIAL FINDINGS OF COSTA RICA CONGRESSIONAL INVESTIGATION

In July 1989, North and other major contragate figures were barred from Costa Rica. The order was issued by none other than Costa Rican President Oscar Arias acting on recommendations from a Costa Rican congressional commission investigating drug trafficking. The commission concluded that the contra resupply network in Costa Rica that North coordinated from the White House doubled as a drug smuggling operation.

SNIP...
KERRY COMMITTEE FINDINGS ON JOHN HULL

John Hull was a central figure in Contra operations on the Southern Front when they were managed by Oliver North, from 1984 through late 1986. Before that, according to former CostaRican CIA station chief Thomas Castillo's public testimony, Hull had helped the CIA with military supply and other operations on behalf of the Contras. In addition, during the same period, Hull received $10,000 a month from Adolfo Calero of the FDN--at North's direction.

http://www.assumption.edu/WebVAX/Mena/Horman22Oct96.html

GOOGLE: Kerry + Ollie North + Iran-Contra + Drugs in most combinations and you'll be surprised at what you learn.

[blm]

13. Abe...you have no clue about Kerry, do you?

Before you make such an assinine declaration, do some homework.

[George_Bonanza]

10. Lay down the Hammer, John

Show them you are unique. You are part of the DLC, you are insanely rich, you did go to the best schools, but that doesn't mean you toady up to the world's robber barons.

[MrPeepers]

14. Yep.

It means you're better equipped to take them down.

Peepers

[w4rma]

15. These are extremely good proposals, IMHO. I like the rhetoric, also (n/t)

[Pez]

17. "Put an End to Corporate Expatriation"... traitors! harharhar

coulter, eat your gucci loafers. not a day goes by when i don't fantasize about publicly humiliating the harpy.

ok well maybe two days go by sometimes.