BMI — CBS Anti-Tax Haven Segment Omits Reason for Their Purpose: High U.S. Taxes

Bus and Media Institute:

Attkisson singled out the Cayman Islands, “where there’s no income tax, no corporate tax, no capital-gains tax.” However, she neglected to point out how high those taxes are in the United States. The United States has the second highest corporate tax rate in the world and a capital-gains tax rate that President Barack Obama had threatened to hike during his presidential campaign.

However, Attkisson couldn’t avoid reporting that business is still awfully good in these “tax havens.”

“Whatever the case, the next time you’re reminded the U.S. economy is in shambles, remember there are places where business is still booming, where some bailed out companies are getting your tax dollars and maybe helping others pay less,” Attkisson said.

While Attkisson’s report was undoubtedly designed to outrage, viewers could take away another, more productive lesson: that the place with struggling economy – the United States, could learn from the Cayman Islands with their low taxes and “booming” business. Bottom line: Low taxes attract investment.

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