Category Archives: Income tax

How to Repeal the Tax Loophole That Allows Companies to Hide Their Profits in Offshore Accounts

More than a third of a century after Ronald Reagan led America down a costly and unnecessary path into extreme income and wealth inequality, the opportunity to restore broad prosperity is rising before us. This is a moment not for despair, but resolve—and hard work.

Income inequality has become so outrageous that even Republicans vying for their party’s presidential nomination are talking about it, though not their party’s role in creating it or any workable solutions. On television the talking heads wring their hands, saying, “If only we could afford the costs of digging ourselves out of the economic hell most Americans have been shoved into.”

Actually, America has an immense pool of money that can be put to work closing the nation’s extreme inequality gap. Doing so will also improve our health, longevity, level of education, and knowledge…

In effect Uncle Sam loans these companies their taxes at 0 percent interest and then pays them interest on the loan. If you could get a bank to do that for you when you buy a house, after three decades with no payments you would have enough money to pay the bank the deferred purchase price and enjoy three to four times the house’s price in cash.

Of course, no banker is dumb enough to give you that deal. But Congress gives it to multinationals like Apple and GE and to billionaires like Warren Buffett every day. So when their shareholder reports indicate that they paid a tiny percentage of their profits in taxes, they really made a profit and paid Uncle Sam a small fee on their profits from deferring payment.

Here’s the good news buried in that outrage: These huge corporate deferral accounts can be tapped to pay for investments that will move us away from extreme inequality, generate millions of new jobs, and create future wealth through basic research and improved infrastructure…

Read the entire article here: How to Repeal the Tax Loophole That Allows Companies to Hide Their Profits in Offshore Accounts

Federal Reserve: When Lawyers and Bankers Get Together

I found this on theshamecampaign.com.  Her reaction to his line of questioning is kind of autistic.  It’s as though she’s thinking “I know the rules, I played the game, what’s the problem?”   This is what happens when you try to impose rigged word and number games on reality.

The Looting of Greece: Fire Sale of Beaches to Pay “Debt”

One hundred and ten of Greece’s best beaches are on sale by Greece’s privatization agency,  the Hellenic Republic Asset Development Fund (TAIPED) in the name of supposed “development” and “utilization of public assets”. In fact a sale off of Greece best beaches for cash so that the debt-ridden country can pay back its lenders….

http://www.blacklistednews.com/Fire_Sale:_Greece_sells_110_of_its_best_beaches_in_the_name_of_“development”/35406/0/0/0/Y/M.html

Is there an academy award for fraud?   This has to be a candidate.   And don’t think for a minute that it can’t happen here.  The entire monetary system is constructed out of the same fraud.   The US government “manages” huge tracts of land in the southwest that include large mineral deposits and access to solar energy.   What is the collateral on the  national “debt” now that american taxpayers are unable to pay it “back?”

The Looting Of Ukraine Has Begun

It is now apparent that the “Maiden protests” in Kiev were in actuality a Washington organized coup against the elected democratic government. The purpose of the coup is to put NATO military bases on Ukraine’s border with Russia and to impose an IMF austerity program that serves as cover for Western financial interests to loot the country. The sincere idealistic protesters who took to the streets without being paid were the gullible dupes of the plot to destroy their country.

Politically Ukraine is an untenable aggregation of Ukrainian and Russian territory, because traditional Russian territories were stuck into the borders of the Ukraine Soviet Republic by Lenin and Khrushchev. The Crimea, stuck into Ukraine by Khrushchev, has already departed and rejoined Russia. Unless some autonomy is granted to them, Russian areas in eastern and southern Ukraine might also depart and return to Russia. If the animosity displayed toward the Russian speaking population by the stooge government in Kiev continues, more defections to Russia are likely.

The Washington-imposed coup faces other possible difficulties from what seems to be a growing conflict between the well-organized Right Sector and the Washington-imposed stooges. If armed conflict between these two groups were to occur, Washington might conclude that it needs to send help to its stooges. The appearance of US/NATO troops in Ukraine would create pressure on Putin to occupy the remaining Russian speaking parts of Ukraine.

Before the political and geographical issues are settled, the Western looting of Ukraine has already begun. The Western media, doesn’t tell any more truth about IMF “rescue packages” than it does about anything else. The media reports, and many Ukrainians believe, that the IMF is going to rescue Ukraine financially by giving the country billions of dollars.

Ukraine will never see one dollar of the IMF money. What the IMF is going to do is to substitute Ukrainian indebtedness to the IMF for Ukrainian indebtedness to Western banks. The IMF will hand over the money to the Western banks, and the Western banks will reduce Ukraine’s indebtedness by the amount of IMF money. Instead of being indebted to the banks, Ukraine will now be indebted to the IMF….

http://www.prisonplanet.com/western-looting-of-ukraine-has-begun.html

Which means the creditor, the entity which would lose if they default, will now be the US and european taxpayers.  See how that works?