[BITList] Barclays bank forced to admit it paid just £113m in corporation tax in 2009 | Business | The Guardian

[s14engine]

yes, mike – you are being naïve.
I’m not sure about UK,  but here MONEY can have laws passed, changed or repealed as required. and money CAN buy you love – the beatles were wrong.
a typical example is the US oil industry – google oil industry profits, taxes and subsidies and you would be shocked to see what they get away with.
I’m sure the banking industry is the same. [is barclays happy paying a whopping 1% tax?]
basically, if you have enough MONEY you can get whatever laws you want. 
an interesting twist here is that a law or change can be attached to any major/minor bill for consideration - and the name of the congressman or senator proposing it is omitted. 
e.g. an un-named senator could slip into major legislation concerning, say the environment - an amendment to the irs tax code which now excludes mike from paying federal income tax. 
it’s such a tiny piece of legislation in the huge environment bill that no one cares or notices..........................now you’re living tax free!!!
or a new road to your summer home might be slipped in, etc. you get the idea. [is this a great place – or what?]
so now I hear you say why does the president not remove or score out these little private goodies?
bill clinton wanted to do just that when he was president – it’s known as a “line item veto”. 
Vested interests objected and took it all the way to the US supreme court. in their infinite wisdom the court opined that the line item veto was UNCONSTITUTIONAL.......
so – vested interests, your little perks are perfectly legitimate....................................
colin t

From: Michael Feltham 
Sent: Saturday, February 19, 2011 2:40 AM
To: BIT List 
Subject: [BITList] Barclays bank forced to admit it paid just £113m in corporation tax in 2009 | Business | The Guardian

Surely the Govt can pass laws that can't be broken or byepassed, or am I being naive ?

Mike
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http://www.guardian.co.uk/business/2011/feb/18/barclays-bank-113m-corporation-tax
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