What do Tax Shelters, NatGrid, and the Cayman Islands have in Common?

By Scott Lewis, February 25, 2016

SOUTHAMPTON, NY — Three hours away from here lies a slice of British paradise – a sun-soaked Caribbean island the size of Bognor Regis: the Cayman Islands. Watched over by a Governor appointed from Whitehall, the Caymans are well and truly British, but with one big difference: no-one seems to be paying a penny of corporate or income tax.

Not locals. Not expats. Not big global corporations. And thanks to this tax-free status, Cayman has built a finance industry that’s brought one and a half trillion pounds [$1.396 trillion dollars] into its banks. There are twice as many companies registered here as there are people. But what’s really going on? Is it tax avoidance on an epic scale? President Obama thought so – he described one building here, Ugland House, home to nearly 20,000 registered companies (i.e. National Grid), as “either the biggest building, or the biggest tax scam, on record”. And are our household brand names mixed up in it?

Now Jacques Peretti, BBC Journalist, has been given unprecedented access to Cayman’s politicians and financiers, its millionaires and the ordinary British expats who’ve built a life here in the sun. He’s on a mission to get to the heart of what makes Cayman tick – and to uncover the unexpected truth about what its existence really means for all of us.

On Thursday, February 25th, 2016, the resultant movie titled, “Britain’s Trillion Pound Paradise” was viewed by Mr. Scott Lewis, former Adjunct Prof. at John Jay College of Criminal Justice, Energy Expert and Southampton resident. What he learned from this BBC movie was that National Grid was sheltering monies off shore by way of the Cayman Islands. More importantly, Mr. Lewis learned the consequences of their actions to the local economies. Mr. Lewis easily made the destructive linkage to New York, New England, Long Island and the Hamptons’ economies, as can you. Watch the film on videoneat.com (Depress link below).

The four insurgent ratepayers -- an energy expert, a business strategist (Greg Fischer), union president, and an attorney --- and growing; continue to strive for more truths by way of election law for JUSTICE, and to create elected oversight of LIPA in an effort to change our power, and gas, distribution system to Municipal Power Companies. In addition, open the door to free enterprise.

Movie link 




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