The Sovereign Society’s legal expert Bob Bauman says claims that U.S. corporations do not pay any tax are overblown and misleading. Many are not paying taxes in a certain year because they had no taxable profits in that year. And with one of the higest corporate tax rates in the industrialised world, it should be expected that companies are moving their business operations offshore. More from Bob…

The tiny Principality of Liechtenstein may not have Switzerland’s prestige, but its strict bank secrecy laws have made it one of the best places to conduct offshore financial activity. Bob Bauman in The Sovereign Society says Liechtenstien’s proposals to clamp down on tax evasion will not dramatically affect the appeal of this tax haven. Limited co-operation with foreign governments may increase, but an upcoming election will preclude any broad opening of the banking system.

Sovereign Society members and readers often ask me if there’s any U.S. law that forces them to report their gold, silver or other precious metals to the U.S. government – especially if they hold those precious metals in foreign accounts or safety deposit boxes.

Bob Bauman says more Americans than ever are leaving the United States to escape the clutches of the IRS. Those departing are generally wealthy and talented… and they getting younger. The loss of tax revenue may pale in comparison to the future problems of a brain drain…

IRS officials just revealed plans to tighten the rules of their so-called “Qualified Intermediary” (QI) program, says Bob Bauman in The Sovereign Society. Under the QI program, foreign banks have held billions of dollars offshore for American clients without legally having to disclose their names to the IRS.

The US Senate is engaged in a phony war on offshore tax havens, says Bob Bauman in The Sovereign Society. But much of this phony war consists of senators making up higher and higher numbers of how much the IRS loses to offshore tax evasion. Besides, one of the biggest tax havens in the world is the good old U S of A. More from Bob…

“Tax havens are engaged in economic warfare against the United States and honest, hardworking American taxpayers.” Economic warfare? Oh please. That’s the Big Lie U.S. Sen. Carl Levin, (D-Mich) mouthed to the press last week.