YouTube- Delaware better place to hide money than Switzerland
Ahead of Luxembourg
Switzerland
Cayman Islands and the United Kingdom..
Wow. :shock:
Delaware is well known as a corporate haven. Over 50% of U.S. publicly-traded corporations and 60% of the Fortune 500 companies are incorporated in that state.
Delaware General Corporation Law - Wikipedia, the free encyclopedia
No big surprise.
The reason why most of the credit card companies are located in the state of Delaware is because there are no usury laws, which means there are no limits on the interest rates. They also pay less taxes on their profits.
That's why allowing health insurance to be sold across state lines is a bad idea for consumers. It would allow the the insurance companies to disregard state consumer protection laws and locate their headquarters to the most corporate friendly state in a race to the bottom.
YouTube- Delaware better place to hide money than Switzerland
Ahead of Luxembourg
Switzerland
Cayman Islands and the United Kingdom..
Wow. :shock:
No big surprise.
The reason why most of the credit card companies are located in the state of Delaware is because there are no usury laws, which means there are no limits on the interest rates. They also pay less taxes on their profits.
That's why allowing health insurance to be sold across state lines is a bad idea for consumers. It would allow the the insurance companies to disregard state consumer protection laws and locate their headquarters to the most corporate friendly state in a race to the bottom.
With just a cursory glance it looks like being located in Delaware while doing business out-of-state is the key.Delaware actually has one of the most restrictive usury laws in the nation. You're thinking of South Dakota.
State Interest Rates and Usury Limits
Delaware Usury Laws | Usury
Delaware also imposes a significant corporate tax, in contrast to several states that have no state corporate tax at all.
The Tax Foundation - State Corporate Income Tax Rates, 2000-2009
The reason why so many companies incorporate in DE is because the Delaware GCL is the most well-developed and business-friendly incorporation law in the country, especially in the area of corporate organization.
In the 1980s, then-Delaware Governor Pierre Samuel du Pont IV shepherded the Financial Center Development Act through the Delaware General Assembly. The act was instrumental in eliminating virtually all usury laws in Delaware, giving banks an immediate incentive to start credit-card subsidiaries in Delaware, as Federal law provides that usury limitations, or lack thereof, are limited to those of a bank's home state, irrespective of where the bank conducts business. This encouraged an explosion in competition among banks to issue credit cards with varying rates for various levels of consumer credit. And because of Delaware’s minimal regulation of interest rates charged, banks were able to issue high-interest rate cards to high-risk consumers.
Delaware charges no corporate income tax on companies not operating within the state, though all Delaware corporations must pay an annual corporate franchise tax.
Incorporate in Delaware, Form a Delaware Corporation or LLC.
LOL...Yeah with regulation, I would be receptive to this (along with other things I may be currently opposed to...RightinNYC said:With a total absence of regulation, this is probably true. However, it's quite easy to imagine a set of nation-wide rules that could be put in place and would be stringent enough to protect consumers while still allowing robust competition.
Yep, and yet the US was never put on the same list of "shame" as many countries on the list.
Oh and Russia Today is not exactly an unbiased sourcebut the story is true.
Delaware beats Switzerland as most secretive financial center | Reuters
Neither is any western media an unbiased source :lol:
Delware should be put on the list, no the whole US, that would be like putting all of EU on because of Luxembourg.
No way. Luxembourg is a country, Delware aint. It is part of the USA which is a country.
And Russia Today is as unbiased as Fox News.
No, its as unbiased as CNN. Fox news is far more biased. I suggest you review your view on either western media, or look more at the live broadcasts from Russia today, to see how heavy the bias is in the west. This action will also readjust your center perpsecitive, as oppose to having it reviewed from extremely nationalists biased American media, towards completely western biased focused European media.
Russia today is a great place to get real news that just will not be shown or given focus in western meainstream media.
RT, previously known as Russia Today, is a globally broadcast English-language news channel from Russia, and the first all-digital Russian TV network, sponsored by the state owned Russian news agency RIA-Novosti
Western state and commercial media claim that RT has close ties with the Russian state authorities[10][11][12][13][14] and a few years after the channel started broadcasting, for being a "cheerleader" of the Kremlin,[12] applying positive spin to reports about governmental institutions, refraining from criticizing Prime Minister and former Russian president Vladimir Putin or the government, and deliberately and incessantly engaging in US/NATO/EU-bashing through "interviews" in which only Russian ultra-nationalists or highly critical, anti-western "experts" are interviewed--without any probing questions or challenges by the RT reporters, and without even bothering to hear opposing points of view.[2] RT itself claims to be funded by the Russian government.[15] A CBC News story contains allegations that RT is "a continuation of the old Soviet propaganda services".[2] Western commercial media, including The New York Times, routinely call it "state-run".[16]
During the 2008 South Ossetian conflict between Russia and Georgia, William Dunbar, a journalist at RT, resigned, claiming pro-Russian bias on the channel. He told the Moscow Times that a series of video satellite links that he had scheduled for 11 August had been cancelled because he had mentioned Russian bombing of targets inside Georgia earlier that day. “The real news, the real facts of the matter, didn’t conform to what they were trying to report, and therefore, they wouldn’t let me report it. I felt that I had no choice but to resign.”
According to the June 2009 Freedom House report, RT "mixes sophisticated production with a resolutely upbeat tone on Russia’s image and an invariably pro-Kremlin take on political events."
lol said:YOU ARE ALL BLIND and fallen victim of PROPAGANDA.. Learn the truth people.
Yep, and yet the US was never put on the same list of "shame" as many countries on the list.
Oh and Russia Today is not exactly an unbiased sourcebut the story is true.
Delaware beats Switzerland as most secretive financial center | Reuters
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