During work today I caught the following on NPR’s Here and Now which comes out of Boston, and while it was a real nice, and comfortable, bright sunny day, My Freaking Rage Level Hit Sky High!!!
IRAQI WAR CONTRACTORS:
The Boston Globe reports today that the largest war contractor in Iraq is skirting hundreds of millions of dollars in US taxes by setting up shell companies in the Cayman Islands. The Globe found that Texas-based Kellogg, Brown and Root (KBR) may have avoided half a billion dollars in payroll taxes by hiring employees through foreign subsidiaries. But those subsidiaries are nothing more than an address, with no phone, fax or offices. The Boston Globe’s Foreign Affairs correspondent, Farrah Stockman, went to the Cayman Islands to investigate.
You can click here to bring up the audio of the show in Real Player. This is the whole hour show, but the report above is the first report and only takes the first 10min. or so.
In the discussion Ms Stockman states they Estimated the loss of payment at some $500million a year!