Saturday, April 12, 2014

Why is Maine listening to Luxembourg on corporate tax loopholes?


















My Orchids. Phalaneopsis Ying and Yang. Republican and Democrat. 
Photo: Independent Photog

Why is Maine listening to Luxembourg on corporate tax loopholes?

If you haven't yet read your Portland Press Herald this morning, may I suggest you read at least my summary here. It is about the interference of Luxembourg, as a foreign Power, into internal matters of the State of Maine. And it is about Luxembourg taking sides against President Obama's Democratic party and in favor of the local Republican Governor Here is the short of it in two quotes:

"Last month, Gov. LePage and leaders of the Maine Legislature received a letter from Jean-Louis Wolzfeld, ambassador of the Grand Duchy of Luxembourg. What prompted a distinguished individual from the European microstate to reach out to the elected leadership of our state? Simple: He’s insisting on being allowed to continue helping large corporations hide their money from us."
.....

"Rep. Mike Carey, D-Lewiston, did an excellent job of tearing apart Wolzfeld’s claims on the floor of the House this week by simply reading from Luxembourg’s own promotional websites, where they try to entice foreign companies to relocate their profits to the Duchy by touting their “mitigation of taxation on foreign-source income” and the creativity and secrecy of their banks."
......


But please read all of it to discover how complicated political love-affairs can be for Luxembourg.



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