Contact Information:

Center for
Freedom and Prosperity
 P.O. Box 10882
Alexandria, Virginia
22310-9998
202-285-0244

CFP Update, 06-11-01

Center for Freedom and Prosperity's Weekly Update

1) Washington Update

2) CFP Strategic Memorandum on Information Exchange

3) Let Washington know that you don't support the OECD

4) Ireland tells the EU "NO THANKS"

5) The Empire Strikes Back: Former tax collectors ask O'Neill to back OECD

6) Bush Administration to review burdensome money laundering laws

7) Could some U.S. states be on the next OECD blacklist?

8) OECD says "uncle" to Senator Gregg and State Department Inspector General

9) France exports pro-tax protesters to Jersey

10) News Reports on Friedman/Buchanan/200 economists' letter to President Bush

11) Attention Economists:  Please join open letter to President Bush

12) Private information abused . . ."but it will never happen again."

13) CFP News Clips

Note:  View this update on our web page at www.freedomandprosperity.org.

 

1) Washington Update

Many of you have asked whether the U.S. Senate switching control to the Democrat Party is a setback. The answer is probably yes, but the impact will be minor. Our strategy, from the beginning, has been to convince the Bush Administration that tax competition, financial privacy, and fiscal sovereignty should be celebrated rather than persecuted. To this end, we have been educating members of the U.S. House and Senate, and our efforts have borne fruit as seen by the large number of letters posted on the Center's website. It does not matter whether any given member is part of the minority party or majority party. Instead, the goal is to show the Administration that there is almost no support for the OECD on Capitol Hill. In any event, we will continue our efforts, spending time on Capitol Hill working with members from both sides of the aisle to build even more opposition to the OECD's proposed anti-competition tax cartel. 

Shifting gears, with the Bush Administration now opposed to the OECD initiative, the remaining fight will be over who can define what is acceptable with regards to "information exchange."  The memo below goes into more detail on our position and where we would like the debate to end.

2) CFP Strategic Memorandum on Information Exchange

CFP Strategic Memorandum to Public Sector and Private Sector Leaders of Low-Tax Jurisdictions on Information Exchange. Full memo linked below:
http://www.freedomandprosperity.org/Papers/m06-11-01/m06-11-01.shtml

3) Let Washington know that you don't support the OECD's ant-privacy information exchange project

Send a free e-mail to your Senators and Member of Congress protesting the OECD's ant-privacy information exchange project.  Link below:
http://www.freedomandprosperity.org/2001/contact/contact.shtml

4) Ireland tells the EU "NO THANKS"

www.washingtonpost.com/wp-srv/aponline/20010611/aponline101936_000.htm

5) The Empire Strikes Back: Former tax collectors ask O'Neill to back OECD

Gee, what a surprise: Seven former IRS commissioners have expressed concerns about the effect Treasury Secretary Paul O'Neill's remarks on the Organization for Economic Cooperation and Development's so-called "harmful tax competition initiative" will have on tax administration. Sheldon S. Cohen, Donald C. Alexander, Mortimer Caplin, Jerome Kurtz, Margaret M. Richardson, Randolph W. Thrower, and Johnnie M. Walters, in a letter to O'Neill, were responding to O'Neill's statement on May 10, 2001. Full NYT's article linked below:

New York Times:  Former I.R.S. Chiefs Back Tax Haven Crackdown
http://www.nytimes.com/2001/06/09/business/09TAX.html

6) Bush Administration to review burdensome money laundering laws

Financial Times: US may ease stance on money laundering
http://www.freedomandprosperity.org/Articles/ft06-01-01/ft06-01-01.shtml

AP: Administration reviewing rules to fight money laundering
www.washingtonpost.com/wp-srv/aponline/20010607/aponline194426_000.htm

Tax-news.com: Senate Tries To Stop Administration's Review Of Money Laundering Rules
http://www.tax-news.com/asp/story/story.asp?storyname=3925

7) Could some U.S. states be on the next OECD blacklist?

The Wall Street Journal, June 6, 2001, Money & Investing: Offshore Banking Arrives in U.S., With Traditional Baggage in Tow
www.freedomandprosperity.org/Articles/wsj06-06-01/wsj06-06-01.shtml

NOTE:  Please see Bruce Zagaris' paper linked below. Bruce does a great job explaining why the US would be targeted if OECD initiative succeeds.
http://www.freedomandprosperity.org/Papers/bz04-25-01/bz04-25-01.shtml

8) OECD says "uncle" to Senator Gregg and State Department Inspector General

Accountancyage.com: OECD assisting US senate probe
http://www.accountancyage.com/News/1121956

9) France exports pro-tax protesters to Jersey

Guardian Unlimited: Jersey braced for tax haven riots
http://www.guardian.co.uk/Archive/Article/0,4273,4197104,00.html

money.telegraph.co.uk: Jersey poised to thwart French anarchist protests:
http://money.telegraph.co.uk/money/main.jhtml?parentRefresh=false&xml=/money/2001 /05/19/cnjer19.xml&firstEmail=true

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10) News Reports on Milton Friedman's and Jim Buchanan's letter with 200 of their colleagues to President Bush against the OECD project.

Tax-News.com: Milton Friedman Asks President Bush To Dump OECD
http://www.tax-news.com/asp/story/story.asp?storyname=3849

momey.telegraph.co.uk: Friedman leads plea to Bush on OECD tax
http://money.telegraph.co.uk/money/main.jhtml;$sessionid$5LODU1AAAJ5ILQFIQMF SFFWAVCBQ0IV0?xml=/money/2001/06/06/cnoecd06.xml

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11) Attention Economists:  Please join Milton Friedman and James Buchanan and 200 of their colleagues and sign on to an open letter to President Bush

At the request of several people who were not able to e-mail their approvals in time, we have decided to make this an "open" letter to President Bush on the OECD so-called "harmful tax competition" project. In other words, additional economists will be invited to sign the letter, a master list of which will be maintained on our web site at www.freedomandprosperity.org. As such, feel free to forward this note and the letter to economists who may not have seen the letter when originally circulated.

Please email me at to add your name to the letter.  Link to economist's letter below:
http://www.freedomandprosperity.org/ltr/economists/economists.shtml

12) Private information abused . . . "but it will never happen again."

An example of why there are legitimate concerns about privacy and any wholesale exchange of info with the Europeans, let alone other countries like Iran, Algeria, and China. This article is proof that all the concerns about indiscriminate information exchange are well-founded.

Daily Telegraph: Euro police HQ raided in fraud inquiry
http://www.telegraph.co.uk:80/et?ac=002549632124328&rtmo=rQtD92QX&atmo=rrrrrrrq &pg=/et/01/6/2/wpol02.html

[This email address may be too long for one line.  Make sure to add back remaining web address to browser,  Thank you.]

13) CFP News Clips

South Florida Sun-Sentinel: Bush Administration opposes crackdown on Caribbean tax havens
http://www.sun-sentinel.com/business/local/sfl-zoecd08jun08.story

The Wall Street Journal Europe, June 1, 2001, International Commentary: Clintonism in France
http://www.freedomandprosperity.org/Articles/wsje06-01-01/wsje06-01-01.shtml

A Dow Jones Newswires Column:  EurOpinion: Offshore Laundromats Have Little To Fear
interactive.wsj.com/fr/emailthis/retrieve.cgi?id=BT-CO-20010606-002341.djml

The Taipai Times, Taiwan, June 3, 2001: Money-laundering crackdown reveals hypocrisy of rich
http://www.taipeitimes.com/news/2001/06/03/story/0000088492

Financial Times: UK rejects EU tax plan
http://www.freedomandprosperity.org/Articles/ft05-29-01/ft05-29-01.shtml

Tyranny Laundering, by Pierre Lemieux
http://www.zolatimes.com/V5.21/tyranny_laundering.html

The Black World Today: Economic Balancing Off The Backs Of Caribbean Blacks, By Rhea Mandulo
http://www.tbwt.com/content/article.asp?articleid=767

AP: Offshore Company Registrations Rise 36% in British Virgin Islands
interactive.wsj.com/fr/emailthis/retrieve.cgi?id=SB991001496908394810.djm

Tax-News.com: Monaco Growing Despite Attacks By France And The OECD
http://www.tax-news.com/asp/story/story.asp?storyname=3674

Good intentions that could kill e-commerce
http://www.freedomandprosperity.org/Articles/ft05-31-01/ft05-31-01.shtml

Reuters: ANALYSIS-Offshore havens pressed as US taxman comes calling
http://biz.yahoo.com/rf/010524/l23160139_2.html

The Observer (Manchester UK): The kindest cuts of all
http://www.observer.co.uk/business/story/0,6903,493295,00.html

 

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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