Al Gore An Inconvenient Tax Scam

Many have been speculating as to why Gore would establishment Generation Investment Management in England. Thanks to an email, we may now know.

This communication has been issued in the United Kingdom by Generation Investment Management LLP ("GenerationIM") which is authorised and regulated by the Financial Services Authority of the United Kingdom

From taxation web UK - looks like something of a tax dodge.

Investors
Investors in Carbon Credits Partnerships are generally likely to be persons with substantial income or capital gains that they wish to shelter from tax - Premiership footballers, investment bankers and directors of the top 100 companies are prime candidates. The potential savings in any example are calculated on the taxpayer being liable at the 40% tax rate.

Partnerships are effectively transparent for UK direct tax purposes, as is a Limited Liability Partnership, in that each partner, or member of the LLP, is usually treated for tax purposes as if he incurred his proportionate share of any partnership trading profit or loss himself. A member of a trading partnership which incurs a loss would usually be able to relieve his share of the trading losses against his income or capital gains.

Expenditure in the first year will almost inevitably give rise to losses which will be, with most partnerships, close to 100% of the investor’s subscription.

Comments

[TheSpartan]

So now tax shelters are scams? I guess me and my 401k are really pulling one over...

[Darth Malice]

Gore is a socialist,but he wants to stay rich.

[iftheshoefits]

So I guess GenerationIM is about credits and offsets after all. They just don't have to do with carbon.

But it's pretty evident that no one who is defending Gore's actions is all that concerned about carbon and CO2 anyway. Just like "appearance of wrongdoing" we so often hear about, the "apperance of carbon reduction" is all that really matters.

[Darth Malice]

Shoe,it is all about appearence,not fixing anything.

[iftheshoefits]

Of those claiming that global warming is the great catastrophe in waiting of all times, does anyone care that Gore is claiming to buy carbon offsets from a self-owned investment company that doesn't sell carbon offsets? And that the investments he does make go to expand the operation of companies that are not even carbon-neutral in the slightest?

Simple math here: Quantity X time a positive number = a larger positive number. Investing in large, non carbon-neutral corporations (a.k.a. 'big bidness'), even if they happened to get on someone's socially responsible list, means that GenerationIM capital investment will expand their operations, thereby increasing CO2 emissions in the atmosphere.

Someone show me how this is not exactly what is going on. Not that there's anything wrong with investment and economic growth. Just admit that carbon offsetting really doesn't matter to anyone, it's all a shell game that's convenient for the moment.

Wink wink, nod nod.

[Buzzy]

Ecology isn't about the environment these days it's about the rich getting richer and the rest of us getting the shaft. Gore is nothing more nor less than a fat cat corporationist running a scam.

[benrand]

Good thing Gore has all his useful idiots to cover for him when he buys a promise for someone to plant a tree in the third world to excuse his massive energy consumption.

And the science is settled on that.

[Darth Malice]

When will the GOP learn that the MSM is not there friend.No matter how screwed up Gore is the MSM folks will lay down for them.

[Hard Right]

Let me get this straight. A loony leftist who feels we should be taxed more for the benifit of others, is trying to avoid paying as much in taxes despite being rather wealthy. That's not hypocritical at aaaaalllll.

[Andrew]

You mouthbreathers dont know much about investing, do you? This LLP is chartered in the UK so that UK CITIZENS can take advantage of UK tax shelter provisions. It doesnt provide any special benefits to US citizens, including Gore.

Dopes...

[benrand]

"It doesnt provide any special benefits to US citizens, including Gore."

Yeah, and those carbon offsets are real, tactile things that reduce CO2 in the atmosphere.

[yyy]

As usual Dan's entire post is false and misleading.

A tax scam?????????

Scam would appear to indicate something done illegaly.

Since when have limited liability partnerships been a scam either in the UK or the US? Maybe never.

Again, for a group that believes so much in capitalism and in the free market's ability to solve every problem known to man, it seems very strange that the fact Al Gore is using said market to achieve green ends is causing such a ruckus.

All the right wingers know how to do is lie and smear, apparently. Even when Gore embraces a traditionally conservative, pro business solution to a problem, you smear him.

[ET]

here's the problem: Gore has invented a problem so he can appear to solve the problem and enrich himself in the process. His science is junk, his solution is fake. Gore is the problem.

[yyy]

Gore didn't invent global warming or man's contribution to it.

Every major scientific body except the geologists or geophysicists who make their money drilling oil wells is on record as endorsing Gore's position. Please spare me the random PH.d's who don't agree as 'evidence' that there is still a debate among qualified scientists. There isn't.

Gore offers many solutions, not just one, not just carbon trading.

It is certainly possible that the scientific consensus IS wrong, but the results for the planet if they are right are too monumental to ignore. An ounce of prevention, as they say.

There is no real downside to moving toward renewable energy, no real downside to refraining from polluting and destroying the natural environment.

It is a lie that sustainable energy policies and conservation will force us to live in mud huts and that is why Gore's lifestyle and his use of the free market to advance his cause are so unpalatable to conservatives. He proves that we do not need to destroy our economy or anyone else's to do the right thing, and that's what the nutters can't stand and that is why they keep on attacking him for using the existing system in a positive way.

[ET]

yyy, I suggest you read "The politically Incorrect Guide to Global Warming and Environmentalism." Pick it up at Amazon. The book asserts that the methods of gathering and presenting climate trends are flawed and that the issue has been hijacked by politicians. You seem like a thoughtful person, and I must say that many of my assumptions have been challenged by the information presented in that book. It might cause you to ask some deeper questions, as well. If 50% of the info is correct, then Gore is guilty of overblowing the issue for personal gain. See what you think.

[Oregonian]

"Ecology isn't about the environment these days it's about the rich getting richer and the rest of us getting the shaft."

Oh, darn it all! Buzzy has uncovered our secret scheme and there's no use trying to hide it anymore. You might as well head over to our top-secret web site, and see the whole nefarious plan laid out in detail:

http://globalwarming-facts.info/50-tips.html

Isn't it just deliciously evil?

For instance, there's number 3: "Move your thermostat down 2° in winter and up 2° in summer." I can almost hear the anguished wails of the suffering children! (cackle, cackle)

Or how about number 23, "Reuse your shopping bag"? That'll really give the shaft to the working poor!

You want to talk about the rich getting richer? Take a look at our dastardly number 17, "Use a clothesline instead of a dryer whenever possible." That's just going to send a fortune to the wealthy clothespin manufacturers.

And how about number 12, "Get a home energy audit"? Energy companies are just making money hand over fist on the free home energy audits they offer. And, as I've always said, there's no better way to screw over the average american than by lowering his electrical bill.

In fact, more than half the things on this list will immediately start saving you money on your fuel and electrical bills, and that's surely what Buzzy means by "the rest of us getting the shaft."

So you're totally right, Buzzy. You've uncovered our plan. Save yourself now or you could someday be living in a nightmarish world of lower bills, cleaner air, and a healthier environment. The horror...

[Zifnab]

"In fact, more than half the things on this list will immediately start saving you money on your fuel and electrical bills, and that's surely what Buzzy means by "the rest of us getting the shaft.""

What does any of this have to do with carbon credits? Just like you stoopid libruls to change the subject.

[Dan Riehl]

What the librul idiots can't explain is, why would a group of Americans go to England to start an LLP if that only benefitted Brits. On top of that, Gore's party has been screaming about Bush's tax breaks. SO, why start an enterprise to lower the tax rates for the well of anywhere - the UK or the US? The whole scam reeks of hypocrisy.

[yyy]

You can't stand the idea of "liberals" making money, because according to your delusions liberals are all closet communists who want to bring down the economy. Thus, any liberal who succeeds in making money has to be attacked as corrupt.

Pathetic.

[Hard Right]

Pathetic.

Yes YYY, you are.

[yyy]

Ooooh good one. I feel really, like, wow, put in my place with hurt feelings and everything.

Maybe someone wants to try and explain how investing money in a UK based LLP is a SCAM.

Is it a scam because anyone who opposed Bush's tax cuts is not allowed to invest in anything that provides a tax shelter?

Is it a scam because the purpose of the investment vehicle is to support environmentally conscious businesses?

Or is it a scam because it involves a belief in global warming and Al Gore is involved? Ding. Ding. Ding. I think we've got a winner here.

[Hard Right]

Yes, why should we suspect a corrupt politicion and liar as being up to no good? DUH!

[yyy]

Got a link Al Gore being corrupt.

Nope? Didn't think so.

[Hard Right]

"Tea" with Buddhist some monks ring a bell for you? Not to mention the political favors he did for them.

[Zifnab]

No. Sadly it doesn't.

[yyy]

No, it doesn't ring a bell.

I am though looking forward to the right wing blogs starting a grassroots movement to make LLP "scams" illegal in the US and to prevent American citizens from investing in "scam" LLP's incorporated in foreign countries.

I won't hold my breath though.

[benrand]

Pure as the driven snow.

http://en.wikipedia.org/wiki/1996_United_States_campaign_finance_controversy

"I did not know that it was a fund-raiser. But I knew it was a political event, and I knew there were finance people that were going to be present, and so that alone should have told me, 'This is inappropriate and this is a mistake; don't do this.' And I take responsibility for that. It was a mistake — Vice President Al Gore on NBC TV's Today show, Jan. 24, 1997."

In response, the U.S. Senate Governmental Affairs Committee that investigated the controversy said:

"The Vice President's staff... knew that the Temple event was a fundraiser. In March 1996, Deputy Chief of Staff David Strauss had helped arrange a meeting in the White House with the head of the Temple, Master Hsing Yun – a meeting which Strauss believed would 'lead to a lot of $.' The White House staff repeatedly referred to the event as a 'fundraiser' in internal correspondence, and assigned to it a 'ticket price' of '1000-5000 [dollars per] head'."

[yyy]

That's the big Al Gore corruption evidence?

That's all you numbnuts have on him, other than he's rich, knows what an LLP is and believes global warming is a significant problem?

Come back when he gets investigated for taking bribes, gets indicted for taking bribes, gets indicted for illegal financial dealings, gets indicted for taking kick backs, perjures himself before a government body or lies to the American public in order to enter into a war of choice and profit.

[Hard Right]

Actually there is more, but I wanted to keep it short. Just because he isn't in jail doesn't mean he isn't corrupt. Based on the Buddhist Monk incident he is definitely dirty.

[Oregonian]

I think this thread shows very clearly why the Democrats should nominate Al Gore for the presidency.

After twenty years of intensive searching into Gore's past, the hard right hasn't been able to dredge up anything more serious than a parking ticket. You could add up every supposed "scandal" in Al Gore's resume and it wouldn't amount to a single average day in the current Bush administration. (Think of Abu Ghraib, mushroom clouds, slam dunk intelligence, "Mission Accomplished," Guantanamo Bay, habeus corpus, Terri Schivo, Hurricane Katrina, "heck of a job" Brownie, "dead or alive" bin Laden, Jack Abrahmoff, Katherine Harris, Walter Reed hospital, four-time-felon Scooter Libby, etc, etc, etc.)

By November 2008, the american people will have endured almost eight years of the worst U.S. president in history. They will be ready for a new president with intelligence, integrity, and the courage to lead. They will be ready to (re-)elect Al Gore.

[benrand]

"That's the big Al Gore corruption evidence?"

Sooo, you were asleep during the 90's...

NO CONTROLLING LEGAL AUTHORITY.

[BillO]

I've been reading posts to blogs for some time now. It amazes me how quickly they devolve into sniping about peripheral junk. Al Gore is entitled to shelter as much income as he likes. He's entitled to make money, even become rich. He is not entitled to tell me I can't and that I should pay more in taxes. He is not entitled to use "carbon offsets" to "shelter" his own huge carbon footprint while telling all of us that we are bad, bad people if we drive an SUV. That's the issue and the point of hypocrisy here. Were he really concerned, he'd tear down his huge house, build an underground home that generated energy from wind and sun or something other than fossil fuels. He could afford to do this (most of us could not) and build a model home for the rest of us to follow (if we only could). Carbon offsets are a pure scam. There is absolutely no way to verify that he has purchased enough to offset his output. It seems very unlikely that the offset is even happening. How many trees would need to be planted and mature fully? Anyone know? A small forest? Or maybe he can just buy a swath of rain forest and preserve it. I'm not sure that would work for everyone, though. Maybe we need phyto-plankton farms? Vast ones that would absorb gobs of CO2 and emit gobs of O2. Wait, that might be bad because O2 is actually a greenhouse gas too. Darn it. Well, I'm sure there is a way to make those offsets work. Al Gore can invent a way I'll bet. If he can't we can form a UN organization to do it. One way or another, we can, we will, save the planet - at least until an asteroid hits it.

[yyy]

All you do is set up a false decision to perpetuate the far right's hysterical propaganda that in order to do anything about global warming we all have to give up our houses and our cars. It's either or and that is a lie.

It's too bad Al isn't running for president since by the frothing at the mouth Gore bashing going on by the right wing retards it would seem that he might have a good chance to win [again].

It is sooo much easier to disbelieve global warming is a significant threat though isn't it and to trash out Al Gore as a hypocrite.

But not to worry, history can be a hard task master as Dubya is going to learn. Al Gore may end up as one of history's big questions marks..what if...what if he had challenged the vote in 2000....what if people had listened to him about global warming...what if....

[BillO]

Why, yyy, do you persist in missing the point. Al Gore wants us to believe he cares more than everyone (hence that documentary). Maybe he does care a whole bunch, but actions speak volumes. His example would lead more people if he actually sacrificed a bit (instead of paying his own corporation). Richard Branson put up some money, for example. I don't think he's going to give up his big house(s) or that airline he owns, but at least he is willing to put up some skin. Al Gore wants to have it both ways. He wants to talk all of us into believing that a) the planet needs saving, b) it needs saving because humans are killing it, and c) the very same humans can save it if we only switch to compact fluorescents, change our thermostats, open a window (or close it depending on the season). But Al wants to keep his massive house, that uses 20 times the energy of the average house while claiming to be carbon neutral through the carbon credit shell game. It may not be bald-faced hypocrisy, but it is in practice. I'm not bashing Gore as a person (or calling him names), BTW, but I am calling into question his actions and statements. That's fair. In fact, for the sake of argument, I'll even grant that anthropogenic global warming is a fact (though I don't believe that in fact, it's beside the point regarding the hypocrisy argument). I don't think there's any "rabid Gore bashing" going on here, nor any name-calling (of him or others in this discussion) from the "right wing".

[angry sheep]

I think we should protect and conserve the environment but Al Gore is the biggest hypocrite on the planet. He does not walk his talk. He says this is a moral issue while he lies through his teeth about his phony carbon credits trading agenda. People need to wake up. The fact that when Al Gore ran for president and lost in his own home state of Tennessee tells you a lot about the man - it's like your own family telling you they don't trust you.

I worked in an environmental conservation organization for 2 years and yes, humans are impacting our environment but not in the way that Al Gore is trying to make us believe. He's trying to bulldoze his views and policies through the popular media now so that he can take credit if the world cools in the next 5-10 years, or say "I told you say" if the planet gets warmer. Remember, this is the man who supposedly invented the Internet -- or so he said.

In any case, he's hedging his bets so that he can't lose. We should protect and care for the environment, but don't fall for Al Gore's phony carbon credits scam. Carbon credits trading is like trying to make up with your wife after you've screwed her best friend; it doesn't change the fact that the damage has already been done.

algoreisafraud.blogspot.com

take care, angry sheep