Corey Pein

Corey Pein is a former Prospect intern and a writer living on the West Coast.

Recent Articles

My Tax Paradise

I counted on a $200 tax refund this year. But the Internal Revenue Service, perhaps sensing that I had vast hidden assets, adjusted my return, and I only got 129 bucks. As a magazine intern and a college student, I make a little less than the average citizen of the Bahamas, who earns about $15,000 per year. The economy of that commonwealth orbits around tourism, smuggling and international finance. Smugglers, of course, don't pay taxes. And in the Bahamas, pretty much nobody does -- there are no income, sales, inheritance or withholding taxes. Which is why the islands are so attractive to multinational corporations seeking to do what all good wealthy institutions do: hoard their fortunes. Legally, if possible and convenient. For now, the tax-dodging scheme called a "corporate inversion" is perfectly legal. (Congress might change that eventually, because the embarrassingly simple process has been getting some bad publicity lately.) Here's how it works: A corporation sets up another...

Terror and Hate:

"I don't believe the American government's reports because they are confusing," Mostafa Mahfouz told the Boston Globe recently. Mahfouz's nephew, Hesham Mohamed Hadayet, killed two people on July 4 at the Los Angeles International Airport and was shot dead by a security guard. Mahfouz, a retired Egyptian general, is probably not slow. Nor is he alone. The question as to whether his nephew was a terrorist -- or something else -- would confuse anyone. The FBI has so far refused to call the shooting a terrorist act because it did not know Hadayet to be affiliated with any terrorist groups. The bureau is investigating the attack as a possible hate crime, or as the desperate act of a depressed man. The American press, for the most part, has accepted the FBI's shrugged-shoulders classification. But the Israeli government, along with many commentators in America and abroad, calls the Independence Day shooting an obvious terrorist attack. Indeed, some reports suggest that Hadayet may have had...