Gofaster...Kerry has a huge hard-on for companies that have headquartered themselves in places like Bermuda. He referred to them as "Benedict Arnolds".
3 points should be made clear:
1. Kerry accepted huge donations for his campaign from AIG (American International Group) who are in fact headquartered here in Bermuda.
2. His wife made a bundle from one company that moved "offshore" to Bermuda in a corporate "inversion".
3. The huge American reinsurance companies that are situated "offshore" are there for a reason. They need to be able to compete against their competitors in Europe and the Far East. Without the "loophole" that exists to allow these companies to be domiciled in a tax free juristiction the Europeans and Asians would put the US cxompanies out of business. It is why the loophole exists and continues to be a part of the US tax code.
Kerry also likes to mix up the issue of work being moved to India causing job losses in the US with the offshore issue. It really gets American voters all worked up and he hopes it will get him votes. The two issues are totally separate but he treats them as one.
I pray he doesn't get elected.
As to "double taxation", you will find that India has a "Tax Treaty" with the US whereby the company will gain tax credits for the tax they paid in the foreign country and therefore will pay only the difference, if any, on the taxes paid in India and the tax otherwise payable in the US.
