Re: Well, bears in the woods etc.
"So, Technically, it will be taxed by the US... IF they ever 'repatriate' it to the US from the Bermudan Black Hole."
Which they will only do when they're offered a repatriation tax holiday. Which was why many people argued against Bush 2's 2004 holiday, because it would just encourage corporates to sit on offshore cash mountains and wait for another one.
It's really amazing how many different ways George W Bush's presidency has managed to produce ongoing disasters.