Tuesday, February 03, 2004

Who's right on the issue of paying a fair share of taxes:

a) Sharpton
b) Huffington
c) Cheney
d) Bush
e) a & b

Sharpton Speech to Building & Const. Trades--April 9, 2003: "And the hypocrisy of saying it is an honor for young men and women to risk their lives in the military, but it's a burden for the rich to pay their fair share of taxes back home. "

August 5, 2002 - Holding Dick Cheney "Accountable": "Of course, Cheney's reluctance to talk to reporters is understandable, given what has been coming to light about his heretofore highly touted tenure at Halliburton, including the questionable accounting, the offshore subsidiaries, and the revelation that the company did business with Iran, Libya, and -- despite Cheney's denials -- Iraq. Call this his 'Axis of Profits.'

Let's start by looking at the problem of the vice president and Halliburton. During the number two's time as the company's number one, the number of Halliburton subsidiaries registered in tax-friendly locations ballooned from nine in 1995 to 44 in 1999. The result? A dramatic drop in Halliburton's federal taxes, which fell from $302 million in 1998 to less than zero -- to wit, an $85 million rebate -- in 1999.

But, to be fair, under Cheney, Halliburton did end up giving a little something back to America -- in the form of $2 million worth of fines for consistently overbilling the Pentagon. In one case they charged $750,000 for work that actually cost them only $125,000. Despite all this, the company has continued to be awarded massive government contracts, including a new 10-year deal with the Army that, unlike any comparable arrangement, comes with no lid on potential costs. I guess it really does help to have friends -- and ex-CEOs -- in very high places. "

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