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If you are an elected official, and you have to make a choice between raising taxes on your constituents or cutting the number of government employees and their salaries, what would you do? For most of the last few decades, in most places, the politicians would just raise taxes. Now that is changing, and here is why. In recent weeks, what used to be a rare event is becoming commonplace, and that is public employees losing their jobs or having their wages and benefits cut. Government employees are rioting in Greece (as if that does any good when the cupboard is bare) because many of them are losing their jobs. Greece, Spain, Portugal and even the Cayman Islands have announced they will be cutting public-employee wages and benefits. Many state and local governments in the United States ar...
GEORGE TOWN, Cayman Islands (Reuters) - The Cayman Islands are hoping to stem a loss of cruise passenger business by completing a controversial deal with a Chinese firm to build a $300 million dock to accommodate modern megaships. Famed for its coral reefs and duty-free shopping, Grand Cayman Island is alone among the top 10 Caribbean destinations without a cruise ship berth, industry experts said. Tourism is the second biggest driver of the Cayman economy after the financial industry and a big source of income and jobs for small businesses.
We should be ashamed! Every day another revelation of our stupidity is exhibited, and every day the Republicans show themselves to be liars. The biggest lie they tell is that they care about the middle class. They start wars that the middle class and poor fight and die for. They demand huge tax cuts for themselves and charge the bill to your kids and mine. They send your jobs overseas and send their money to the Cayman Islands for tax-free safekeeping. They make sure useless baubles such as Paris Hilton never have to work and try to figure out how they can cut your mom's Social Security.
Without, or With, Offence to Friends or Foes, I Sketch Your World Exactly As It Goes. THEY are called Zero Filers, people who get back every dollar, every dime and every penny they pay in federal income tax. They are not rich fat cats living in the Cayman Islands, but ordinary, everyday people who work at fast-food jobs.
By Farah Stockman The Boston Globe
CAYMAN ISLANDS. Kellogg Brown & Root, the nation's top Ir... assistance should they lose their jobs. In interviews with more than a dozen KBR workers ...
Morriss discusses the reasons behind Cayman Islands' success as an offshore financial center. To attract foreign investors, Cayman Islands adopted a policy of no direct taxation of any kind: no sales tax, no real estate taxes, and no value-added tax.
... industry, in order to shift lucrative jobs to Bahamians, capital fled to the Cayman Islands. ...
Here are some suggestions to increase revenues and decrease expenses to ameliorate our national deficit. First, remove the cap on FICA taxes presently at $106,800 and extend it to infinity.
... the idea of the military as just another jobs program. Abrogate the allowance of postal box addrresses in the Cayman Islands as legitimate origins of business operatio...
Partly in response to the US-led assault on their opaque banking systems and propensity for secrecy, many of the Caribbean financial centers have dramatically tightened up both their regulatory oversight and their attempts to deter money laundering. The result is that the line between "offshore" and "onshore" financial centers has become so blurred that the International Monetary Fund has declared the term "offshore financial center" obsolete. Officials in the Caribbean agree that one result of the greater scrutiny was a stronger financial services regulatory regime, more transparent governance and greater adherence to international best practices by corporations operating there. The islands continue to face other challenges, as well -- from the perennial rebuilding after a severe hurri...
... centers, such as the Bahamas, Bermuda, Cayman Islands and Barbados, actually fared well as inves... the local economies through better-paying jobs and tax revenue that can improve the physical infr...
... It's about creating jobs in poor communities. It's about real universal he... or are setting up tax havens in the Cayman Islands. And as a consequence, we're going to be ...
When politicians complain about "outsourcing" and "off-shoring" they often fill the air with doubletalk and hypocrisy. Outsourcing is when companies "export" jobs traditionally done in the United States to countries that pay lower wages and benefits and have fewer regulations. Off-shoring is when corporations locate their main businesses just out of reach of U.S. tax collectors, in low-tax or tax-free havens like the Cayman Islands.
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