“A Luxembourg structure is a way of stripping income from whatever country it comes from,’’ said Stephen E. Shay, a professor of international taxation at Harvard Law School and a former tax official in the U.S. Treasury Department. The Grand Duchy, he said, “combines enormous flexibility to set up tax reduction schemes, along with binding tax rulings that are unique. It’s like a magical fairyland.”
The deals can be so complex that PwC accountants frequently include “before” and “after” diagrams to illustrate how money flows from subsidiary to subsidiary and across different countries and tax havens. The leaked records show that Luxembourg’s 2009 tax deal for Illinois-based Abbott Laboratories – which makes arthritis drugs and Ensure meal replacement shakes –features 79 steps including companies in Cyprus and Gibraltar. Abbott projected it would invest as much as $50 billion via Luxembourg.
More than 170 of the Fortune 500 companies have a Luxembourg branch, according to Citizens for Tax Justice, a nonprofit research and advocacy group. A total of $95 billion in profits from American corporations’ overseas operations flowed through Luxembourg in 2012, the most current statistics from the U.S. Bureau of Economic Analysis show. On those profits, corporations paid $1.04 billion in taxes to Luxembourg – just 1.1 percent.
– From the ICIJ’s report: Leaked Documents Expose Global Companies’ Secret Tax Deals in Luxembourg
The following expose by the International Consortium of Investigative Journalists (ICIJ), at times reads like a movie script. Leaked documents, one of the world’s largest accounting firms, and a retired tax official named Marius Kohl, nicknamed “Monsieur Ruling,” who was described by a Belgian newspaper as “the guardian of the only door through which companies can enter the fiscal paradise of Luxembourg.” This piece has it all.
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One of Liberty Blitzkrieg’s most popular posts in 2013 was titled: 
The following article serves as an terrifyingly poignant microcosm of the entire U.S. economy. It also contains language and practices that are right out of the subprime mortgage industry, which catalyzed the financial collapse of 2008.
Drop that plate right now!
Whichever side emerges victorious, both Republicans and Democrats should face up to a much bigger truth: Neither party as currently constituted has a real future. Fewer and fewer Americans identify as either Republican or Democratic according to Gallup, and both parties are at recent or all-time lows when it comes to approval ratings. Just 39 percent give Democrats a favorable rating and just 33 percent do the same for Republicans. Not coincidentally, each party has also recently had a clear shot at implementing its vision of the good society. If you want to drive down your adversary’s approval rating, just give him the reins of power for a few years.
I thought one of the principles of democracy is listening to people and allowing them to give their opinions. If people can’t express their opinions, then it’s not a democracy of great quality.