so you have a $2 million profit in the cayman islands. so you pay zero foreign taxes, as the cayman islands doesn't have any tax. and of course under this plan, you pay zero u.s. tax except our republican colleagues said they have a plan to address this problem. and that is in this situation there will be a 10% minimum tax. so on your $2 million profit in the cayman islands, you would actually pay a tax of $200,000. sounds good. i mean at least it's a small fix supposedly. but then in the same bill there's a huge loophole to this fix, and that is that corporations get an exemption from this minimum 10% tax if they move their factories overseas. if you move jobs overseas, you can escape that 10% minimum tax. and that's because in the senate bill corporations get an exemption that equals 10% of the value of all their offshore, of all their offshore factories and equipment. and the house bill is similar. what does that mean? it means if you're a corporation, you get an exemption from that foreign minimum tax by shipping factories and jobs ov

lancaster, the queen's private estate, had invested £10 million in funds based in bermuda and the cayman islands were asked as to whether this should be held the monarch‘s cash is invested. as prince charles toured the far east, the same questions were being asked of his private estate, the duchy of cornwall, as well as investing offshore, the prince was also accused of a conflict of interest in relation to a particular investment. clarence house was robust in their denial of any wrongdoing. the fact that both the queen and the prince of wales voluntarily pay tax on income from their private estates did not stop calls for greater transparency in the royal finances in the wake of these revelations. in times of tragedy, it is the role of the monarch to help console and unite the nation and sadly, this year, the queen and other members of the royal family have been called upon to perform this duty all too often. starting here in westminster in march, when five people were killed.

banks all set up here maybe something in europe something in america something overseas in the cayman islands it will pull these banks are complicit in the kleptocracy we decide to give mccall and say ok i'm ready to do some serious money laundering ok let's see how we did while we got a nice laundry watch for max and for stacy old beautiful jewelry how about. luxury automobile again for max payne owing money laundering is highly illegal. much keyser could. apply for many clubs over the years so i know the game inside guides. football isn't only about what happens on the pitch for the final school it's about the passion from the fans it's the age of the shaper money just kill the narrowness and spend the two to twenty million on one player. it's an experience like nothing else not to because i want to share what i think of what i know about the beautiful guy great so will more chance with. the base it's going to take. snow worm good bridge to come in you stupid twenty. yao's nose to. east. into piqua and the saw in the four colors closer look. at us running insisting that we did not in keepin

banks all set up here maybe something in your something in america something overseas in the cayman islands it will pull these banks are complicit in the tough talk or see we just have to give much gold and say ok i'm ready to do some serious money laundering ok let's see how we did while we've got a nice luxury watch for max and for stacy oh beautiful jewelry how about. luxury automobile again for max they know what money laundering is highly illegal don't be a crook watch kaiser of course. palestine is getting international recognition with the help of israel at least in the world of zoo's him in bill fiddlesticks mission to do it looking like human beings this isn't my cup of tea is going up to study hall maybe you know john does a telescope with gets the most help from its jerusalem counterparts i do think there's some of those so that the commission could not only could give us. and the earth does all of us knowledge to how to display any of the muscle that you have and i'm going to compete in the customs you know do more commitments also don't put this almost. every case isn't a natio

have our three banks all set up something new or something in america something overseas the cayman islands it will do all these banks are complicit in their tough talk or sued to stop the democrats a burning to do some serious mood ok let's see how we did while we've got home and i still dream watch for max and for stacy cole beautiful jewelry and how about. luxury of a bill for my you know what money you want to hire. her. done son is not is not a quick place it is not a good country. because if the minister. loves. a visit as good at that as a disco that is. the statement of the culture. of the culture of the sugar from the secular christmas. falling in trust for the embrace from a fellow muslim of oneself to be little. mostly out of this forceful. play almost anything for the members of the base the dots they cut out a ride that john said i'm based on are much earth tightening can i do not cover mr rice from catholic matter how anomaly came. from michele. to fuck mom i can elude the most solemn almost feeling now we're going to fuck and i'm a. cool sister to my son enough i was going to

list of foy seven jurisdictions was also published this tuesday they include switzerland in the cayman islands and have committed to changing their tax rules to abide by you standards on transparency in the near future. the governor of lebanon central bank says the country's economy will be stabilized but really prime minister's decision troszyn his resignation. the central bank had to shore up lebanese pound after saad hariri announced plans to step down last month. that we had some actual francine fourteen refine that he was confident lebanese economy was prepared to deal with a degree of political instability. we expect the bond. to be stable. under markets have experienced us and they said of scene that. we have it is situation. that you can control anyways you have large. i'm preserves in foreign currencies and we have decreased the supply of labor in his pond in the mark. uncertainty over aung going brexit negotiations has prompted a sharp selloff in the value of pounds sterlin. british currency slightly recovered from earlier sharp losses to shoot his six day low it's still not about pr

banks all set up here maybe something in europe something in america something overseas or the cayman islands or do we do all these banks are complicit in the progress we just have to give mccoll and say ok i'm ready to do some serious money laundering ok let's see how we did while we've got home got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury automobile again for max you know what money laundering is highly illegal thank you so much guys of course. across europe municipalities are taking their water supply back from private companies to me to people this is the simple song alone even some company elsewhere they invite private companies to take over the utilities anybody tell us that all posts allowed so mr guys who got on the program had to go by been pieces of us to quote them out . of more use than bill bill if bill brought up locals are ready to stand up for the basic human rights of access to water it's about water but it's also over much more than war it's about to hurt and the redistribution of. this. date downwards the one dollar. russian athle

[inaudible] his millions in locations such as siberia, the solomon islands and the cayman islands , doeshis qualify the minister for donations as a foreign donation? order order i will call on you when there's some order. >> senator cameron, senator korman order honestly, i'm disappointed with you too. i mean seriously. you disappoint me. what an asinine question who by the way praises his lineages back to the first fleet and has been a successful businessman and has earned from australia and various foreign country is somehow a foreign donor. you could do a lot better than that. >> order. >> you been watching question time. it's been a big year in australian politics in 2017. next year could bring an election and we will have more decisions by the high court on how many are eligible or not eligible at all. thanks for watching. ♪ ♪ ♪ ♪ ♪ >> the un security council expected to reconvene its earlier meeting which will include a vote on a resolution regarding the u.s. moving its embassy in israel to jerusalem. egypt put forward a resolution over the weekend calling on member states not to m

banks all set up here maybe something in europe something in america something overseas in the cayman islands it will do little these banks are complicit in their tough talk or sued us up to the pole and say hey i'm ready to do some serious money laundering ok let's see how we did well we've got a nice laundry watch for max and for stacy oh beautiful jewelry how about. luxury automobile from that you know what money laundering is highly illegal don't be so much kaiser of course. mean you don't. see. what in the. head space. let alone. said. let me know. that. you speak french. continued imposable many kids talk of. the cold so this calls. to. come to russia no one's ever no one has ever heard of a country never even heard about most schools. lol .

banks all set up here maybe something in your something in america something overseas in the cayman islandsor do we do all these banks were complicit in the park received a soft or did mccolgan say hey i'm ready to do some serious money laundering ok let's see how we did while we've got home got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury automobile again for max you know what money laundering is highly illegal thank you so much guys of course. about your sudden passing i've only just learned you worry yourself and taken your last abang turn. caught up to you as we all knew it would i tell you i'm sorry i could so i write these last words in hopes to put to rest these things that i never got off my chest. i remember when we first met my life turned on each breath . but then my feeling started to change you talked about war like it was again still some are fond of you those that didn't like to question our ark and i secretly promised to never be like it said one does not leave a funeral the same as one enters the mind gets consumed with death this one

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in the kleptocracy you just have to give my phone and say hey i'm going to do something soon. ok let's see how we did while we've got a nice luxury watch for max and for stacy old beautiful jewelry and how about. the luxury of a bill again for max you know what money laundering is highly illegal thank you so much because of course. altie we have a great scheme we need to strengthen before the free float and your bets have been a legend to keep it so it's at the back. in one thousand nine hundred two that must qualify for the european championships at the very last moment no one believed in us but we won and i'm hoping to bring some of that waiting spirit to the r.c.t. . recently i've had a lot of practice so i can guarantee you that peter schmeichel will be on the best fall since my last will come from that steroids or three. thousand zero zero zero zero hitter here i call russia. nice price. left left left more or less ok stop that's really g

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk received a softer didn't phone and say hey i'm ready to do some serious money laundering ok let's see how we did while we've got home got a nice luxury watch for max and for stacy oh beautiful jewelry how about. home luxury automobile again for max you know what money with me is highly illegal thank you so much guys of course. i. this is the boom bust broadcast around the world from washington d.c. i'm feeling you and i be on the scene coming up will eurozone reform be able to take our complicated breath to talk and ongoing negotiations in germany one expert will give us her take plus it looks like there is a showdown over a potential government shutdown present donald trump is squaring off with democrats and perhaps a few republicans over to the government open past midnight on friday can some of the contentious policy issues be resolved west dr marc ford but first let's check the top stories in business in point. not all

banks all set up here maybe something in your something in america something overseas or the cayman islands or do we do all these banks are complicit in their tough talk or suit us up to deal with both say they ever need to do some serious wounds are ok let's see how we did while we've got a nice luxury watch for max and for stacy oh beautiful jewelry and how about. luxury automobile again from that you know what money laundering is highly illegal . much because of course. when you all know it's coming to inspect the pope if somebody would've been told me that i'm going to spend my life to plan committees that are out to destroy kosovo the salt it was clear. every night only we were attacked by the arabs oh really we'll attacking them and we will extremely shocked and saying but that's not possible oh me doesn't do such scenes and then the soldiers send myself in the snippet of the. host with the prisoner with them to go over the day i. believe much second class citizens in the on come. to this day and i think in my head that there is no way to be able to live together without. the strong.

three banks all set up here maybe something in your something in america something overseas or cayman islandto do all these banks are complicit in their tough talk or seem to decide to give mccomas a camera to do some serious money laundering ok let's see how we did while we've got a nice luxury watch for max and for stacy old beautiful jewelry and how about. on luxury on a bill again for max you know what money you want to hire you know thank you so much because. across europe municipalities are taking their water supply back from private companies who have it in me to keep out the cells with simple song alone even cycle niggas from elsewhere though they invite private companies to take over the utilities anybody tell us throw up the laxness you guys you've got to be violent to come up because. i've been this is a map of us to quote them out of office of more use than bill bill if bill brought up locals are ready to stand up for the basic human right of access to water it's about water but it's also over much more the water it's about to hurt and the redistribution of our west purchase thei

banks all set up here maybe something in your something in america something overseas in the cayman islands or do we do all these banks are complicit in their tough talk or say we just have to deal with all and say ok i'm ready to do some serious money laundering ok let's see how we did well we've got only got a nice laundry watch for max and for stacy oh beautiful jewelry how about. luxury automobile again from that you know what money laundering is highly illegal don't be a close watch guys of course. credit is one of the basic instruments to drive an economy but it can also lead to tragedy i did it i took a lying down just i came to god and meant that the debts ty came to and in the spiral not. many lives have been broken like excess in the banks got you into trouble and all the big bankers got big prize from the government about the banks but i just didn't think of the. last morning through the back under don't buy creditors people see no future bad things happen you know you become ill you do to job your relationship breaks down you become a casualty is death a life long trip or is the

when they turn around, they had no way to get to the cayman islands from atlanta and they will the goingscratch. they had been looking forward to that vacation. if there is a silver lining, it's the fact that it happened in the delta hub. be able toopefully get staff and equipment to the airport as quickly as possible. we have got a flight coming in at 7:14 this morning and we will try to catch up with passengers to find out their situation overnight. reporting live, suzanne kennedy. autria: chick-fil-a workers, delivering meals on a sunday. that's how you know it was serious there. they are usually closed on sundays, as you know, but they made an exception last night to help the people stranded in atlanta. abc 7 is staying on top of every development, including the impact it will have on you if you try to grab the flight. we will have the latest as soon as it comes in. new overnight, a massive response and fairfax county. flames tearing through a home. this is the scene last night. in the last few minutes we learned the fire started on the porch. two people were inside of that home, but

ot cayman islands had a bit you could behave w. who'd in what all the slightly alstom it is about you send me gimme a darwinian e a little bit later salafi home it down homey ball to inhale a little maybe news that they may day. is a nice is what i can jani i tell my shiny stolen out of we stole a month ago and it's you know she do. think it's a messy tune i just had b.c. don't believe he second one helicopter which means him and l.f.s. need a second one will feed him and saw him once the collar. is too confides to be. yoked it got to a needle you kind of got to you you have to bust a month to get paid a bit saloon month to get a thirty year month to get. to his that will you relook at all luckily the limb now. at the cottage and done its a limb now enormous saw that of a month ago bill came in coney how month to get the thought of what the ha what the . he has been a been caught and what the model was seen em our mess at home i let the jetty you hide well why not take that feed him full turning want total. yeah don't let us i don'

be off cayman islands had a bit you had behaved audio would in her out all the. hey i'll sum it is about you sent me gimme a darwinian e it has to be a lady salafi home it down homey ball to inhale a little maybe news that they may day. is a nice is what i can jani to my shiny stolen out of we stole a month ago and it's you know she do. think it's a messy tune i just had b.c. don't believe he second one helicopter which means him and l.f.s. need a second one will feed him and saw him once the collar. is to confide to be. yoked it got to a lawyer collar got to you you have to bust a month to get paid a bit saloon month to get a thirty year month to get. to his that will you look at all luckily the limb now. that the casita done its a limb now normal saw that of a month ago bill came in coney how month to get the thought it was what the weed haarlem on. him he had been a been caught and what the model was seen him our mess at home i had left the jetty you had a woman all think that see them spoke to me and want to talk. i don't let us get on the one thing that i'm

be off cayman islands had a bit you had behaved audio would in her out all the slightly alstom it is about in the senate gimme a darwinian e has hit a bit late salafi home it down homey ball to inhale a little maybe news that they may day. is a nice is what i can jani i tell my shiny stolen out of we stole a month ago and it's you know she do. think it's a messy tune i just had b.c. don't believe he second one helicopter which means him and l.f.s. need a second one will feed him and saw him once the collar. is to confide to be. yorkville . any law you call a car to you you have to bought a month to get paid a bit saloon month to get a thirty year month to get. to his that will look at all of his a little i'm now. at the cottage and done its a limb now enormous saw that of a month ago bill came in coney how month to get the thought of. what the weed haarlem on. him he had been a been caught and what the model was seen him our mess at home i had left the jetty you had a well why not take that feed him opening want total. i don't let us i don't mean i got them at a not even when they pu

pay 10% in a high tax country and tax havens where taxes are zero percent in places like the cayman islandsd and bermuda and so if you actually get into the details that differential taking the tax rate down to 21% here is under mined by all the goodies they give to the multi nationals who offshore. >> so, alan, this plan remains pretty unpopular with american voters. why do republicans insist the cash to corporations and rich will do the way of the trickled down economics theory when there is absolutely no evidence of that happening in u.s. history. it seems to be a theory yet to be proven. >> i think there is abundant evidence that corporate investment is responsive to the ensi ens incentives and having a 21% rate instead of 35% rate is going to make the united states a more attractive investment -- >> alan, does it work its way down to people's wages? does it hire more employees? do people feel it? do the middle class workers feel it? >> sure, because there is more capital in the country and drives up the market level of wages. so i mean, you know over the long haul, there is no possible

you can't just ship your money from russia like wire it to the cayman islands or cypress or new york or london. you'll get caught doing it that way if you're a russian crook. instead, what you do is say i don't just want to send my money abroad to park it somewhere, i don't just want to open an account in a foreign country and move it there. i can't do that with money like this. instead, i want to buy something. so you need to have something you're going to buy for a lot of money. so you have somebody abroad go to the bank and i have this highlighter and the price of this highlighter i want to sell is $10 million. miraculously, simultaneously at that same moment you pop up in moscow with your $10 million in ill gotten rubles and say hey, office, do you know anybody selling something i might be able to buy for $10 million. i was thinking of investing in a highlighter. do you know anybody selling one for $10 million. the bank says we can do that transaction for you. we can handle that. think about how the money moves. i'm the dude in russia. i hand $10 million in dirty rubles into the

debt include, get ready for this, the cayman islands work $260 billion and india and saudi arabia with between $135 billion and $248 billion and that's a conservative estimate. $86.2 billionolds of -- of our debt. ur closest ally in europe -- america best be careful, we are ending up in foreign servitude to the ownership of the u.s. debt. defeating the republican tax plan is one way to start righting the ship of state. i yield back my remaining time. the speaker pro tempore: the chair recognizes the gentlewoman from north carolina, ms. foxx, for five minutes. ms. foxx: thank you, mr. speaker. recently, "forbes" magazine reported something we north carolinians have known for some time. north carolina is the number one state for business. to give credit where it is due, the tar heel state's successful business atmosphere is in large part due to the north carolina legislature which has cut corporate and personal tax rates since republicans assumed the majority in 2010. this year, the legislate chur enacted a budget that reduces -- the legislature enacted a budget that reduces the state's

if you are below the threshold in sun country, like the cayman islands, you can invest in another country like germany, averagely two, and not have to pay any tax against that provision. that was a design choice in the veil. i know it was not written that way. >> you have followed the paradise papers. like the panama papers before them, they show an immense amount of tax dodging. this bill would appear to only reward those people with more loopholes >> thank you for having this hearing. it has already been said that we are doing this tax bill and there has not been a single hearing and the house. this will have incredible implications to every american and this is the first time we have been able to hear from yourt witnesses, so thank all for being here and sharing your expertise with us and the american people. time that we encountered this was almost 30 years ago. indication, we will not be revisiting this for another 30 years. writing a tax bill that could potentially do with us for that long, without having hearings, is shameful. so thank you. and sir, thank you for your and to thecom

be a need for the splc to have offshore accounts reported up to $69 million in areas like the cayman islands as a tax exempt nonprofit organization, splc has no need for lawful tax avoidance. so what would be the legitimate reason that the splc would have millions and millions of dollars deposited in offshore accounts? >> i appreciate the question. i think there's been some confusion in the press about this. it's common for nonprofit organizations, including universities, big foundations, to have money in offshore accounts. it avoids two things. first, it avoids a lot ofcertain -- a lot of certain kinds of filings. and it avoids unrelated business income tax. if i could finish very quickly. >> i appreciate your answer. will you state before this congressional committee definitively that all splc funds are received, held and used for lawful persons under u.s. law? >> i will. >> thank you. does the splc receive foreign money? >> not that i know of. we may have had some donors in foreign countries. i'm sure we have donors in english, for example. but we don't have any other governments. >> have

so that if you are below the threshold in some country like the cayman islands, you can then invest in another country, like germany, average the two against, and not have to pay any tax against that provision. and that was a design choice in the bill. it didn't need to be written that way. >> well, i know you followed the latest release of the paradise papers, like the panama papers before them. they show immense amount of tax-dodging by wealthy individuals, and multinationals. and this bill would appear to only reward those people with more loopholes and tax breaks. i thank you, mr. chairman. >> thank you, mr. dogget. with that, i would like to recognize mr. thompson. >> thank you, mr. chairman. and thank you for having this hearing. >> it's already been said that we're doing this tax bill, and there hasn't been a single hearing in the house on a tax bill that's going to have incredible implications to every american. and this is the first time we've been able to hear from expert witnesses. so thank you all for being here to share your expertise with not only us, but the american peo

have the most advanced and strongest military in the world if we use the same tax code as the cayman islands. this year our country experienced a tragic loss of life. in fact, more than one loss of life needlessly, preventably. 17 sailors perished on the u.s.s. john mccain and u.s.s. fitzgerald. two of them were from connecticut. i attended ceremonies in their honor. those deaths are attributable largely to lack of resources. there may have been other caus causes. but this tax bill is a moral choice about our military. the failure to invest in those ships, in the training and necessary rest that's required for our men and women in those positions will be aggravated by the debt that we see here. our national security is more than just military spending in the face of russian cyberattacks in our elections, horrific hurricanes hitting puerto rico and texas and florida, fires still burning in western states. we know that our military alone is not enough to keep us safe and secure. those natural disasters and those challenges from our adversary require investment as well. and again, the loss of t

facilitiesave offshore in ireland or the cayman islands, does this give them an incentive to bring thoses and people back? guest: you have hit on one of the most complicated parts of the bill. the short answer is that is a big debate. we will see what actually happens. the number one incentive they will have to bring those profits back is the corporate tax rate is going lower. that is one of the reasons this attempt got started, to address that circumstance. you mentioned ireland. they have a rate of 12.5%. companiesy a lot of try to read their income through ireland. if the u.s. moves its corporate , theyte down to 20% narrow that quite a bit. the thought is they won't engage in much like that. that is one part. there is a whole section that relates to the treatment of profits earned by companies overseas. there is a lot of different parts of that that would affect that decision you are talking about. josephark, talking with lawler. good morning. caller: thank you for taking my call. hopefully after net neutrality you will still get c-span. income.150,000 i live in new york, which we ha

to put it in ng the cayman islands. information to the u.s. treasury agent and he nailed him. never made it out of the lincoln post office. host: okay. morning reports this for women will call congress to investigation, women to demand a probe and share details of the allegations against the president, according release, the conference is being hosted by brave new film, the filming campaign organization that works progressive causes release film about the allegations against president trump in a dozen more than women came forward with allegations of sexual misconduct against president trump during presidential campaign. right now we take you to an event here in washington, d.c., sponsored by center for strategic and international studies, a discussion taking a the u.s. and pulling out of nafta, we take you to that now.rsation [captioning performed by the national captioning institute, which is responsible for its caption content and accuracy. visit ncicap.org] [captions copyright national cable satellite corp. 2017] [indistinct chatter] >> just got the thumbs up, will begin. t