A Quote by Henry Rollins
That's where the economy is going. It went somewhere. Just not to America. And the money made? That went to the Cayman Islands and Switzerland. Not back here. Never to be taxed.
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Corporations are not going to stash their money in the Cayman Islands. We are going to reinvest in America, create jobs, make education available to all.
In the meantime the big corporations are fleeing America for tax havens and places like Ireland, Luxembourg and the Grand Cayman Islands; the rich are finding more tax loopholes to expect; so when are the people going to basically roll up their sleeves and say, we've had enough, we're going to recapture Congress.
I just got back from Switzerland, which I've never been to. I went to Switzerland and Amsterdam.
My mother is Afro-Caribbean and my father is Caucasian-American, and I was born in Pennsylvania and moved to the Cayman Islands when I was about 2. So I grew up there with my mother, and it's really all I know. I grew up there until it was time to go to college, and that's when I moved back to America.
Do away with the corporate loopholes that allow major profitable corporations to stash their money in the Cayman Islands and not pay a nickel in some cases in federal income taxes.
Because of the fact that being a professional actor is not a career that is widely pursued back home in the Cayman Islands, I never thought it was a viable profession. It didn't even cross my mind. So when I knew I wanted to do theater, I didn't think 'actress,' even though I loved to perform.
I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one - stashes their money in the Cayman Islands to avoid paying their fair share of taxes.
I'm convinced we're going to rebuild not only the auto industry, but the economy better and stronger than before. And at its heart is going to be three powerful words: Made in America. Made in America.
When the earthquake hit Haiti in 2010, I was on vacation in the Cayman Islands.
In 1990, about 1 percent of American corporate profits were taken in tax havens like the Cayman Islands. By 2002, it was up to 17 percent, and it'll be up to 20-25 percent very quickly. It's a major problem. Fundamentally, we have a tax system designed for a national, industrial, wage economy, which is what we had in the early 1900s. We now live in a global, asset-based, services world. And we need to have a tax system that follows the economic order or it's going to interfere with economic growth, it's going to reduce people's incomes, and it's going to damage the US.
If you bring [tax] rates down, it makes it easier for small business to keep more of their capital and hire people. And for me, this is about jobs. I want to get America's economy going again. Fifty-four percent of America's workers work in businesses that are taxed as individuals. So when you bring those rates down, those small businesses are able to keep more money and hire more people.
I think it's time we had a President who will provide the only real economic security: good jobs. A President who will provide middle class payroll tax relief to get money in the pockets of workers who will spend it, not more tax giveaways for those at the top to stimulate the economy in the Cayman Islands and Bermuda. A President who will index the minimum wage to inflation and raise it from a 30 year low, not increase the tax burden on the middle class and those struggling to join it.
The Cayman Islands, a British Crown colony in the Caribbean, for instance, is the fifth largest banking center in the world.
What do the 5%, or the 1% actually use their money for? They lend it back to the economy at large, they load it down with debt. They make their money by lending to the bottom 95%, or the bottom 99%. When you give them more after-tax income, it enables them to buy even more control of government, even more control of election campaigns. They're not going to spend this money back into the goods-and-services economy.
Just as the PC bled back into industrial economy, I think the Internet is going to bleed back into our overall economy and have a transformative effect on major sectors that we don't yet foresee.
My ancestry is really weird, because my great grandfather was from the Cayman Islands, and then his father was from England. But I lose track at that point.
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