Well, the President is concerned about corporations in America who take advantage, set up operations outside of America in an effort to lower their taxes. That's not good for America; that's
not good for workers; and it's something that the President has proposed legislation on that's been sent up to the Hill.
— White House press secretary Ari Fleischer, July
30, 2002
WASHINGTON - Harken Energy Corp. set up an offshore subsidiary in the Cayman Islands tax haven while President Bush sat on Harken's board of directors in 1989, the Daily News has learned.
...
White House communications director Dan Bartlett said, "As a general practice at that time ... international contracts like this one were done through a subsidiary to contain liability. ... In order to save money [on taxes], you would have to make money, and they didn't make any. They found
no oil."
— Timothy J. Burger, Bush co. went offshore
Call it the incompetence defense. Harken tried to weasel out of paying its taxes, but it didn't succeed, because it failed to earn a profit. Yes, your honor, we broke into the bank vault, but since we forgot to take the cash with us, we didn't actually steal any money.
— Jonathan Chait, Stupid Is, Stupid Does