Contact Information:

Center for
Freedom and Prosperity
 P.O. Box 10882
Alexandria, Virginia 22310-9998
Phone: 202-285-0244
Fax: 208-728-9639
                                            

CFP Update, 05-30-01

Center for Freedom and Prosperity's Weekly Update

NOTE: I apologize for the delay in receiving (posting) this update and also if you have received this for the second time. This update should have been e-mailed Wednesday of last week.  Due to technical difficulties and my travel schedule (more below), I was unable to complete the update. We will email this week's update in a couple days. Thank you.

1) Twenty-two Congressman Ask President Bush to Oppose OECD's anti-privacy tax cartel.

2) More than 200 economists, including two Nobel Laureates sent a letter to President Bush condemning the OECD's HTC plan.

3) CFPF delegation in the Cayman Islands

4) CFP launches Grassroots e-mail campaign

5) Steve Forbes Praises Secretary O'Neill on his OECD HTC Decision

6) The Empire Strikes Back: The hard-left New York Times sides with OECD

7) Financial Times (London): CLASSIFIED RECRUITMENT: OECD accounts' bitter aftertaste EXTRAORDINARY ITEMS

 

1) Twenty-two Congressman Ask President Bush to Oppose OECD's anti-privacy tax cartel.

Twenty-two members of the House of Representatives sent a letter to President Bush asking him to oppose the OECD's attack on tax competition, financial privacy, and fiscal sovereignty. The letter was organized by Robert Ney , Chairman of House Administration Committee. Signers include a member of the Leadership (Chris Cox, Chairman of the Republican Policy Committee), the Chairman of the Treasury/Postal Appropriations Subcommittee (Ernest Istook), Chairman of Small Business Committee (Don Manzullo), and Chairman of the Financial Services Committee (Mike Oxley). Link to letter below:
http://www.freedomandprosperity.org/ltr/ney052101/ney052101.shtml

 

2) More than 200 economists, including two Nobel Laureates sent a letter to President Bush condemning the OECD's HTC plan.

More than 200 economists, including two Nobel Laureates, Milton Friedman and Jim Buchanan, sent a letter to President Bush condemning the OECD's attack on tax competition, financial privacy and fiscal sovereignty.
http://www.freedomandprosperity.org/ltr/economists/economists.shtml

 

3) CFPF delegation in the Cayman Islands

The Center for Freedom and Prosperity Foundation currently is in the Cayman Islands with a delegation from Washington discussing the battle for tax competition, financial privacy and fiscal sovereignty.  While in the Caymans, the delegation is meeting with Government lawmakers and financial regulators. The Center also was the featured attraction at the annual meeting of the Cayman Islands Chamber of Commerce.  At the Chamber event, CFP shared our perspective on international tax competition and the recent decision by Treasury Secretary Paul O'Neill to oppose the OECD's so-called "Harmful Tax Competition" Project. If you would like to contact or meet with us while we are here (we leave Sunday morning), please contact us at 1-345-949-8100.

See AP article below:

Associated Press:  June 1, 2001, by Gretchen Allen:
http://www.freedomandprosperity.org/Articles/ap06-01-01/ap06-01-01.shtml

 

4) CFP launches Grassroots e-mail campaign

CFP has launched an email campaign sending messages to more then 230,000 demographically targeted Juno e-mail subscribers.  CFP hopes to generate thousands of e-mails to Capitol Hill and Treasury against the OECD's anti-tax competition and unlimited information exchange proposal. To receive a copy of the e-mail messages please contact us.

 

5) Steve Forbes Praises Secretary O'Neill on his OECD HTC Decision

June 11, 2001
Forbes
by Steve Forbes
Fact and Comment (Excerpt)

Torpedoing Global Tax Nannies

     Another constructive move by our Treasury Chief has been to kibosh an initiative of high-tax countries to force low-tax countries to raise their levies. The Paris-based, 30-member Organization for Economic Cooperation & Development (OECD), known to nonmembers as the rich man's club, wants to impose sanctions on "money-laundering tax havens." Its real purpose: to wage war against low-tax entities. Or as OECD bureaucrats put it, "to eliminate harmful tax practices." The Bush Administration rightly saw the OECD move as an attempt to become the world's tax policeman and to force high-tax regimens on sovereign states. Naturally, France was the prime mover. It and other European tax-happy, welfare nations have long cast a jaundiced eye on those who don't squeeze their citizens' pocketbooks sufficiently. Look at the European Union's constant berating of Ireland for its policies of cutting taxes.

     O'Neill made clear the U.S. would vigorously pursue genuine tax cheats and fight criminal money-laundering efforts. But he rightly saw the distinction between those laudable goals and the less-than-laudable efforts to force low-tax countries to impose more exactions on their citizens. . .

 

6) The Empire Strikes Back: The hard-left New York Times sides with big government, editorializing against tax competition, financial privacy, and fiscal sovereignty

We now know that we are doing the right thing. The Washington Post and the New York Times are two of the most statist newspapers in the world. As such, when they editorialize in favor of a certain position, it is very safe to assume that the other side is correct - even if one is completely unfamiliar with the issue. Not surprisingly, this is the case with regards to the OECD's anti-tax competition campaign. The New York Times has joined the Washington Post in editorializing against tax competition, financial privacy, and fiscal sovereignty. (link below)

The New York Times:  Editorial, May 26, 2001, A Retreat on Tax Havens
http://www.nytimes.com/2001/05/26/opinion/26SAT3.html

 

7) Financial Times (London): CLASSIFIED RECRUITMENT: OECD accounts' bitter aftertaste EXTRAORDINARY ITEMS

     The Organisation for Economic Co-operation and Development claims it is well on the way to updating an archaic accounting system that has brought it well deserved criticism.

     The OECD says it has gone beyond changes recommended in a stinging report last year by Arthur Andersen, the professional services firm.

     At least one potential note of contention remains, however: the question of how the organisation accounts for the stock of wines held at its Paris headquarters. (Link to full article)
http://globalarchive.ft.com/globalarchive/articles.html?id=010524001621

 

Kind regards,

Andrew Quinlan
Center for Freedom and Prosperity
President
202-285-0244
603-971-9137 (efax)
quinlan@freedomandprosperity.org
www.freedomandprosperity.org

 

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