Lawrence: As to the tax shelters that help the
rich, as obnoxious as that seems, there
is truth to the trickle-down business.
I wasn't talking about the tax cuts, but about the
practice of offshoring tax shelters to avoid
paying honest taxes. It was a practice that hit
its stride in Clinton's second term, and was
pioneered by Crutchfield, the CEO of First Union
(now Wachovia). Bush has done nothing to prevent
companies from headquartering in 1/2,000th of an
office space in Antigua so they can avoid US taxes.
In fact, in the FRONTLINE special on it, Hedrick
Smith (of _The Russians_ fame) interviewed a
Republican Senior IRS manager appointed by Bush
Sr., who said something to the effect that that if
corporations paid their honest share of taxes,
every single middle-class American would get
$15,000 knocked off their taxes. That may be
inexact, but that's the gist of it.
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