Tom the Dancing Bug by Ruben Bolling for May 31, 2013

Transcript:

Tom the Dancing Bug by Ruben Bolling Lucky Ducky The Poor Little Duck Who's Rich In Luck in "Gimme Shelter" Aide: Sir, the I.R.S. is here. HOUNDCO PROUDLY AMERICAN Aide; ...and the tax on your corporate income is a simple 35%. Hound: WHAT?! Hound: I'll create a foreign subsidiary to shelter income! Aide: Then I'M writing regulations to ensure it's a real operating company! Hound: Grrr...I'll create bogus contracts between companies to bring back profits, tax-free! Aide: Now I'll write rules to make sham contracts ineffective! Hound: Then I'll create an intermediary company in Bermuda... Aide: On it! Hound: ...owned by a trust in the Caymans... Aide: Writing regs on trusts! And negotiate a preferential tax rate with Ireland... New regulations on low tax jurisdictions... Hound: You know, the whole problem with U.S. tax law is that it's TOO COMPLICATED! Aide: PANT PANT Hound: Well, it was HARD WORK, but I got my rich company's rate down to 8%! Lucky Ducky: Can I buy one with my paycheck? HOT DOGS Vendor: Um, yup. You barely make it... Vendor: ...with the sales tax of 8%! Lucky Ducky: Gotcha! Hound: LUCKY DUCKY!