Just Vile: New Leak Reveals Luxembourg Tax Deals for Disney, Koch Brothers Empire

[TheBlackAdder]

Working the system to get a tax rate of 1%.

No other comment other than you need to read this article.


http://www.huffingtonpost.com/the-international-consortium-of/new-leak-reveals-luxembou_b_6295556.html?utm_hp_ref=business

[KansDem]

1. Could someone please explain this statement?

The document shows the corporate parent of Mickey Mouse moving money in circles across the globe while transforming it from cash to debt to equity and back.

How could cash become debt and then equity and then "back" (which I assume means "cash&quot ?

[TheBlackAdder]

2. That's a question for Earnst & Young. Perhaps it's like Money Laundering, but with legal entities?

http://money.howstuffworks.com/money-laundering.htm

[TexasTowelie]

3. If they loan money to another subsidiary

then the second subsidiary is indebted to the first subsidiary.

[TheBlackAdder]

5. Yep. Not as perverse as Bain's Kay*Bee Toys borrowing against equity scheme--still a shell game. nt

[NewDeal_Dem]

4. Traitors, thieves.